An Open Source Protocol for Digital Sovereign Identity

  Ashley Brooke Taylor cooperative systems for a circular economy September 7, 2017 Blockchain holds the potential to be a powerful accounting system for many transactions taking place today. Most importantly it can be a tool to account for sustainability and impact investment, things that money has had trouble accounting for truly. The decentralization blockchain…

Virtual currency offerings banned

By Wu Yiyao in Shanghai 2017-09-06 Initial coin offerings, raising funds through the launch of token-based virtual currencies, have been banned in China, according to an announcement made by several authorities on Monday. Analysts said that authorities move to ban ICOs is not surprising given that ICOs, with strong liquidity and great risk exposure, have…

UK at centre of secret $3bn Azerbaijani money laundering and lobbying scheme

The Guardian   Exclusive: Leaked data reveals thousands of covert payments, including to European politicians and journalists Some of the money went towards an international lobbying operation to deflect criticism of Azerbaijan’s president, Ilham Aliyev, pictured with his wife Mehriban outside 10 Downing Street. Photograph: Luke MacGregor/Reuters Luke Harding, Caelainn Barr and Dina Nagapetyants Monday…

Public Statement – 23 June 2017

  Valencia, Spain, 23 June 2017- The Financial Action Task Force (FATF) is the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). In order to protect the international financial system from money laundering and financing of terrorism (ML/FT) risks and to encourage greater compliance with the AML/CFT standards, the…

First Australian conviction for unregistered remittance service

24 May 2017   In the wake of an historic court conviction, AUSTRAC, the Government’s financial intelligence and regulatory agency, has warned that legal action will be taken against unregistered remitters who engage in deliberate and systemic breaches of the anti-money laundering and counter-terrorism (AML/CTF) laws. The first ever conviction in Australia for operating an…

Banamex USA Agrees to Forfeit $97 Million in Connection with Bank Secrecy Act Violations

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, May 22, 2017 Today Acting Assistant Attorney General Kenneth A. Blanco of the Justice Department’s Criminal Division announced that Banamex USA (BUSA), a financial institution based in Los Angeles, California, and a subsidiary of Citigroup Inc., agreed to forfeit $97.44 million and entered into…

Panama Papers: has transparency improved a year on?

Inside Financial & Risk    –     Thomson Reuters James Swenson    04 Apr 2017   A year since the Panama Papers data leak sparked worldwide controversy around the use of offshore companies, has transparency increased and is it any easier for compliance officers to identify Ultimate Beneficial Owners (UBOs)? Following the release of the Panama Papers one year…

British banks handled vast sums of laundered Russian money

The Guardian Exclusive: Billions of dollars were moved out of Russia in ‘Global Laundromat’ operation, with anonymously owned UK companies playing major role Luke Harding, Nick Hopkins and Caelainn Barr Monday 20 March 2017 14.00 EDT Last modified on Monday 3 April 2017 09.06 EDT   Britain’s high street banks processed nearly $740m from a vast money-laundering…