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Governments and international organisations issue sanctions as part of international trade and politics. Today, they are one of the common means of exerting foreign policy and economic pressure....

Among the global anti-money laundering (AML) watchdog’s recommendations, the FATF Travel Rule received a wider attention ever since it became applicable to the cryptocurrency sector. The Travel Rule...

According to the United Nations, 2-5% of the global GDP, totaling between $800 billion to $2 trillion, is laundered annually. The social consequences of money laundering are far-reaching and...

Violations of OFAC Sanctions: What Are the Consequences? The United States sanctions are created, implemented, and enforced by the Office of Foreign Assets Control (OFAC). OFAC sanctions and...

The United Nations is an international organisation devoted to promote global peace and security as well as long-term economic growth. In order to achieve these goals, the UN seeks to combat...

Banks and other financial institutions are required to implement an anti-money laundering and anti-terrorist financing compliance programme in most worldwide jurisdictions in order to identify and...

When talking about KYC (know your customer) checks, people usually refer to the procedure that occurs during onboarding, which involves identifying and validating your customer’s identification. A...

On 3 December 2020, the EU Sixth EU Anti-Money Laundering Directive (6AMLD) came into play for the members of the single currency region. The directive focuses on standardising the approach of EU...

Know Your Customer (KYC) is the process of obtaining information and data in order to authenticate clients' identities and ensure that they are not involved in money laundering or other financial...

Anti-money laundering (AML) are regulative measures and procedures to detect and prevent money laundering and making it difficult for financial criminals to hide their illegal origin. Money...

The aircraft hijackers who carried out the deadliest attack on America on September 11, 2001 used The Hudson United Bank of New Jersey as one of the financial institutions to facilitate their attack....

Well known for its strict laws and regulations, Singapore has an open but pragmatic approach to cryptocurrency. While the city-state does not recognise any cryptocurrencies as legal tender, it has...