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NEWS: Terror groups, Russia and NK expanding use of crypto, warns US Treasury; need for more legal powers

Premium April 9, 2024

CRYPTO WARNING: Deputy Secretary of the Treasury Wally Adeyemo told a US senate committee today (Tuesday): "While we continue to assess that terrorists prefer to use traditional financial products and services, we fear that without congressional action to provide us with the necessary tools, the use of virtual assets by these actors will only grow."

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LATEST: Search for AMLA chair to begin September when powerful new job is advertised

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NEWS: Seven arrested in money laundering probe involving King Gaming on Isle of Man

AML COMMUNITY: Danske’s Milda Olencevičiūtė inspires with her Monday morning social post

The US Treasury Department believes terrorist groups will increase their use of virtual currencies and other digital assets unless Congress approves new regulatory tools, Deputy Secretary Wally Adeyemo says. In testimony for today’s (Tues) hearing of the Senate Banking, Housing and Urban Affairs Committee on Tuesday, Adeyemo warned groups like al Qaeda, Hamas and even…

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Premium

LATEST: Search for AMLA chair to begin September when powerful new job is advertised

 Premium

NEWS: Seven arrested in money laundering probe involving King Gaming on Isle of Man

AML COMMUNITY: Danske’s Milda Olencevičiūtė inspires with her Monday morning social post

Regulatory Watch News

  • April 29, 2024 – FINTRAC advisory: Financial transactions related to countries identified by the Financial Action Task Force

    Fintrac

    High-risk jurisdictions subject to a call for action

    The statement on high-risk jurisdictions subject to a call for action identifies jurisdictions for which the FATF has called on its members to either apply countermeasures (Democratic People's Republic of Korea (DPRK), Iran) or enhanced due diligence measures proportionate to the risks arising from the jurisdiction (Myanmar).

  • FinCEN to Host Webinar on Beneficial Ownership Information Reporting Requirements

    FinCEN

    The Corporate Transparency Act requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative for a virtual information session on beneficial ownership information reporting requirements and how to comply with the law. WHAT: Webinar on beneficial ownership information reporting requirements WHEN: Tuesday, April 30, 2 p.m. ET WHERE: www.youtube.com/@fincentreasury

  • Financial sanctions update: ISIL (Da’esh) and Al-Qaida

    OFSI

    On 29 April 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. Enacting the UN’s decision to amend this entry on 25 April 2024, the following entry has been amended under the ISIL (Da’esh) and Al-Qaida financial sanctions regime and remains subject to an asset freeze:

    • Sanaullah Ghafari (Group ID: 14169)

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