Category: Money Laundering

Canada Presents Three Possible Cryptocurrency Regulations In Anti-Money Laundering Committee – Justine Pope

Content Marketing, CryptoCurrency, Cryptocurrency News, Money Laundering

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Earlier this week, the Canadian House Finance Committee met and discussed the role of cryptocurrencies. As part of their regular meetings as required by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), cryptocurrencies became a hot topic, as regulators see them as an easy way to launder money. The usual reasons, according to iPolitics, came up: cryptocurrencies are anonymous, difficult to trace, and have a history of being used by risky personalities such as Edward Snowden and Julian Assange……….

Read more: https://www.cryptoglobe.com/latest/2018/11/canada-presents-three-possible-cryptocurrency-regulations-in-anti-money-laundering-committee/

 

 

 

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The Banks That Helped Danske Bank Estonia Launder Russian Money – Frances Coppola

Banking Tech, Business Hacks, Business Reputation/Reputation, Content Marketing, Future Finance/Banking, Money Laundering

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Money laundering is a multi-bank phenomenon. Danske Bank Estonia has been revealed as the hub of a $234bn money laundering scheme involving Russian and Eastern European customers. But Danske Bank Estonia couldn’t do this by itself. Much of the money was paid in U.S. dollars, and for that, it needed help from other banks. Banks that had access to Fedwire, the Federal Reserve’s electronic settlement system. Big banks, in other words. It appears that four big banks helped Danske Bank Estonia make its dodgy transactions. J.P. Morgan, Bank of America and Deutsche Bank AG all made dollar transfers on behalf of the Estonian branch’s non-resident customers. And according to the Wall Street Journal, Citigroup’s Moscow branch…….

Read more: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/#67c5600b7319

 

 

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