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RISKY BYTE April 20, 2018

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RISKY BYTE
20 April 2018
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Business World Science Politics Stories Environment #aml #moneylaundering
How Chinese gangs are laundering drug money through Vancouver real estate
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Laundering Money
thumbnail globalnews­.ca - Criminal syndicates that control chemical factories in China’s booming Guangdong province are shipping narcotics, including fentanyl, to Vancouver, washing the drug sales in British Columbia’s casino…
Vietnam PM Calls For More Gov’t ‘Management’ Of Cryptocurrency Following Scam ICOs
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nomad #Traxion
thumbnail www­.ethnews­.com - After a Vietnamese company known as Modern Tech Joint Stock Company allegedly perpetuated two ICO scams relating to tokens called iFan and Pincoin, the country's prime minister, Nguyễn Xuân Phúc, ins…
Iceland Needs To Better Fight Money Laundering | PYMNTS.com
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EquinitiKYCSolutions
thumbnail www­.pymnts­.com - Iceland’s efforts over the last decade to focus on crimes that were associated with the financial crisis around the globe has hurt its law enforcement of money laundering and terrorism financing, rep…
Identifying and Verifying Ultimate Beneficial Owners - Corporate Compliance Insights
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corporatecomplianceinsights.com
thumbnail www­.corporatecomplianceinsights­.com - Comprehensively identifying and verifying corporate hierarchies and ultimate beneficial owners (UBOs) has become increasingly important since the implementation of 4MLD and MLR2017. However, achievin…
Sri Lanka Govt to ensure continued progress of financial inclusion: Fin Min
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Thilina Withanage
thumbnail www­.lankabusinessonline­.com - Apr 18, 2018 (LBO) – Minister of Finance Mangala Samaraweera says it is important for the Sri Lankan financial system to have robust access and engagement with the global financial architecture. The …
EU urges Moldova to hunt down cash from $1 billion fraud
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KYC360
thumbnail kyc360­.com - The European Union has called on Moldova to retrieve funds from a one billion dollar banking fraud and bring to book the criminals behind the scam. In a report discussing the issue of reform in Moldo…
Compliance officer confessions: How I handled dodgy demands
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KYC360
thumbnail kyc360­.com - A London-based compliance officer looks back at some of the requests he came across and tells KYC360 how he reacted on the occasions he smelt trouble. He did not wish to disclose his name and details.
Cryptocurrency funds down nearly 30 percent in March
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KYC360
thumbnail kyc360­.com - Cryptocurrency funds were down 29.2 percent in March amid an ongoing slump caused by increased scrutiny from global regulators of the virtual assets, according to a new index launched by data provide…
Amber Rudd to announce crackdown on dark web
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HighFrequency
thumbnail www­.theguardian­.com - Home secretary Amber Rudd is to announce a crackdown on criminals who exploit the dark web in pursuit of drug deals, child pornography, guns, credit scams and other illegal activities. About £9m has …
MEPs approve stronger instruments to prevent and monitor money laundering in Europe
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ALDE Group
thumbnail medium­.com - Members of the European Parliament today approved the review of the 4th Anti-Money Laundering Directive, which constitutes the main legal instrument in the prevention of money laundering and terroris…
The UK Refused To Raid A Company Suspected Of Money Laundering, Citing Its Tory Donations
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Kieran Beer
thumbnail www­.buzzfeed­.com - Part Five of a BuzzFeed News investigation. Part One: Tory Donor's Cash Drops Caught On Film Part Two: Lycamobile Is Embroiled In Sri Lanka's Hunt For Stolen Assets Part Three: Lycamobile Reported To…
How new technologies can enhance anti-money laundering efforts and provide financial access
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ACAMS ml.com
thumbnail www­.brookings­.edu - The current system for global funds transfers is based on old and outdated technology, employed primarily by a shrinking network of correspondent banks. Payments moving through the correspondent bank…
Bitcoin is an asset, not a currency - Israel's central bank
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Mark Hanna
thumbnail www­.reuters­.com - JERUSALEM (Reuters) - Israel’s central bank said on Monday it would not recognise virtual currencies such as bitcoin as actual currency and that it was difficult to devise regulations to monitor the …
Iran switches from dollar to euro for official reporting currency
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KYC360
thumbnail kyc360­.com - Iran will start reporting foreign currency amounts in euros rather than U.S. dollars, state media said on Wednesday as part of the country’s effort to reduce its reliance on the U.S. currency due to …
Trump’s Russian Laundromat
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Sarah Smith
thumbnail newrepublic­.com - Over the years, Trump and his sons would try and fail five times to build a new Trump Tower in Moscow. But for Trump, what mattered most were the lucrative connections he had begun to make with the K…
Opposites attract – fintechs and incumbents
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ditrendia
thumbnail www­.cio­.com - The banking industry is experiencing tremendous change as customers opt for superior digital service delivery and better value from traditional products and services. This shift has resulted in a not…
Citigroup Lists Multiple Job Openings for Certified Bitcoin Professionals
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GigaɃitcoin
thumbnail themerkle­.com - Even though the public’s interest in cryptocurrency has not slowed down in the slightest, there are still risks associated with it. Citigroup acknowledges the potential impact of Bitcoin, yet it aims…
should senior partners be involved in KYC for client onboarding? | encompass blog
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RISKY BYTE
thumbnail www­.encompasscorporation­.com - Increased focus on Anti-Money Laundering (AML)/Counter-Terrorist Financing (CTF) regulation has escalated the importance of such checks within law firms, but at what cost? Fee earners are important b…
To Address De-risking and Comply with AML/CFT Regulations, Banks Are Turning to Artificial Intelligence and Other New Technologies
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RISKY BYTE
thumbnail www­.fintech­.finance - ”RegTech May be the Solution to Some De-risking Woes,” Says Center for Global Development’s Vijaya Ramachandran Today, the Center for Global Development released a new study that finds that financial…
Money laundering review finds most law firms doing well but urges others to comply
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RISKY BYTE
thumbnail www­.sra­.org­.uk - Our review of 50 firms has shown that although most law firms are doing what is needed to tackle money laundering, some need to do more. The review of firms – large and small – explored the professio…
AML Best Practices Should Focus on Proactive Detection, Not Defensive Monitoring
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RISKY BYTE
thumbnail www­.financialexecutives­.org - It is estimated global money laundering transactions are in the $1 trillion to $2 trillion range – numbers that, if measured as a country’s economy – would rank in the top 10 economies in the world. …
Five Third Party Risks The Regulators are Focusing On
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RISKY BYTE
thumbnail blog­.aravo­.com - It’s the billion-dollar question – what is on a regulator’s mind when they walk through the door of a firm? What kinds of things are they looking for – and is the firm prepared? The focus on third pa…
Latvia overhauls banking amid money-laundering accusations
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RISKY BYTE
thumbnail www­.businesstimes­.com­.sg - EUROZONE member Latvia is scrambling to reform its banking sector after US authorities accused its third-largest lender of large-scale money laundering with connections to North Korea's nuclear weapo…
Five key risks for firms in 2018 | Thomson Reuters
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RISKY BYTE
thumbnail blogs­.thomsonreuters­.com - Forward-thinking firms will pay attention to these critical risk areas in the coming year. Strong, well-resourced, business-specific risk and control infrastructures have always been a required core …
Business
Wendt and Sultan: How ‘oral downloads’ created a work-product protection waiver - The FCPA Blog - The FCPA Blog
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FCPA
Paytm: Where it pays to pay the bills — Trulioo Blog
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trulioo.com
G20 countries moving too slowly to combat financial crime
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Andromeda
Understanding the new EU measures on bank registers, cross-border access
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KYC360
Upward Trend in Iran-UAE Trade Transactions
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Raja
Apartheid's Bankers To Face Official OECD Complaint
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HuffPost SouthAfrica
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World
On the Reaction to the U.S. Strike in Syria. No Anti-War Movement. What Comes Next?
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#marketdata News
Can US Sanctions on South Sudan Rein in a Nation of Warlords?
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Global Issues Web
‘U.S. to Fine Turkish Banks Over Iran Trade’
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Sevenrays
Nikki Haley Finally Realizing She Works in the Trump Administration
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GQ Magazine
Action needed now to prevent South Sudan genocide, says UN chief
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Tom Hiddleston
Oman Needs to Prevent Iranian Weapons Shipments to Houthis
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Mishikiville7☠️ ∞
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Photos
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Science
Amazon wins patent for data feed marketplace that could include bitcoin transactions
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ACAMS Today
Artificial Intelligence May Know You Better Than You Know Yourself
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ACFCS
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Politics
Trump May Face Heat for Campaign Finance Crimes
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FierceFeline #StopRush
Pastors react to report that govt plans to probe their sources of wealth
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Laksh
Nigerian government plans to regulate, profile NGOs | Civil Society Newspaper
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Risky Byte
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Stories
Where Cuban government can't provide, sisters and Catholic organizations fill the gaps
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Rev Eric Michel
AML 360 | Going Beyond the Basics - ACFCS | Association of Certified Financial Crime Specialists
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ACFCS
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