Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

AML, Banking, CFT, Compliance, EU/Europe, Financial Crime, Financial Services, Regulatory

NEWS: ‘Serious deficits’ found in Bitcoin’s German bank, futurum; BaFin issues deadline to fix failings

Premium November 28, 2023

AML: Germany's Federal Financial Supervisory Authority (BaFin) ordered futurum bank AG to remedy shortcomings in its precautions for the prevention of money laundering and terrorist financing. Serious deficits were identified in internal controls and safeguards, in the fulfilment of due diligence requirements and in suspicious transaction reporting at the bank, owned by Bitcoin.

Premium

REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

 Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

 Premium

NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

By AML Intelligence Correspondent GERMAN financial watchdog BaFin found serious AML deficiencies at Bitcoin’s bank, futurum. The regulator has found fault with the bank’s due diligence requirements and in suspicious transaction reporting. The Federal Financial Supervisory Authority (BaFin) said it has ordered futurum bank AG to remedy the shortcomings in its AML/CFT precautions. The institution…

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in
Premium

REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

 Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

 Premium

NEWS: PEPs law make politicians, families ‘guilty until proven innocent’ MPs claim in Ireland’s parliament

Regulatory Watch News

  • SIRIUS and An Garda Síochána advance collaboration in cross-border access to electronic evidence

    Europol

    On the 25 and 26 April 2024, over 47 representatives from 25 law enforcement authorities (LEAs) across Europe as well as 29 representatives from 15 companies met in Dublin, Ireland, at the invitation of An Garda Síochána and the SIRIUS project, at the The SIRIUS SPoC Network Meeting. The meeting served for participants to share the latest developments, best practices, common challenges and possible solutions in the area of cross-border access to electronic evidence. Countries with no Single Point of Contact (SPoC) in place attended the event as observers, to assess if any of the established methods could possibly be of interest and put in place within their own agencies.

  • U.S. Department of the Treasury’s Federal Insurance Office Launches New Partnership with the National Science Foundation on Terrorism and Catastrophic Cyber Risks

    US Department of the Treasury

      WASHINGTON – This week, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) hosted the 2024 International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) Annual Conference.  IFTRIP is a forum of 15 nations, including the United States, supporting initiatives for closer international collaboration among sovereign-backed terrorism reinsurance pools.  FIO began serving as chair of the IFTRIP in 2024.

  • Head of NCA calls for reform on defensive reporting
    Four arrested in UK in joint NCA-French operation targeting alleged Vietnamese Facebook people smugglers

    National Crime Agency

    Four Vietnamese nationals have been arrested by the National Crime Agency in Deptford, Croydon and Leicester as part of a major joint UK-French investigation into alleged small boats people smugglers advertising crossings on Facebook. NCA officers arrested a 23-year-old woman at an address in Heathfield Road, Croydon and a 64-year-old man at an address in Abinger Grove, London on Monday morning. A man aged 34 was arrested in Grasmere Street, Leicester.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us