Vietnam considers giving digital currency a legal aspect
December 6th, 2016
Last week it was Russia. Now, Vietnam is reportedly joining the leagues of countries that will soon legalize virtual currencies like bitcoin. Vietnamese-language news outlet VnEconomy reported that the government and relevant ministries are working on a proposal for ...
FINRA fined Credit Suisse Securities USA $16.5 million for AML and other violations
December 6th, 2016
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $16.5 million for anti-money laundering (AML), supervision and other violations. FINRA found that Credit Suisse’s suspicious activity monitoring program was deficient in ...
Singapore imposed millions penalty to foreign banks branches
December 5th, 2016
The Monetary Authority of Singapore (MAS) announced today that it has imposed financial penalties of S$5.2 million and S$2.4 million respectively on Standard Chartered Bank, Singapore Branch (SCB) and Coutts & Co Ltd, Singapore Branch (Coutts) for breaches of ...
Latest on FIFA fraud case: Swiss prosecutors add former FIFA Secretary General to corruption probe
December 1st, 2016
Former FIFA executive Linsi added to corruption probe Swiss prosecutors have added former FIFA Secretary General, Urs Linsi, to their criminal investigation into alleged corruption surrounding the 2006 World Cup in Germany. Investigators searched the Swiss citizen’s home on ...
Alert: Beware of Facebook investment scam
November 28th, 2016
Facebook users are promised an $800 payout if they can refer two other people into the “Blessing Loom” and deposit at least $100. Showing signs of a classic Ponzi scheme, authorities and observers warn Facebook users not to join ...
Bitcoin Prices in India Soar Amid Demonetization Drive
November 15th, 2016
Prime Minister Narendra Modi’s decision to combat the underground economy is a blessing in disguise for companies working in the cashless space, which includes mobile wallets, card companies and even bitcoin. Bitcoin, the eight-year old virtual currency, has been gaining ...
European Council Endorses Exchange Of Beneficial Ownership Data
November 15th, 2016
The European Council has endorsed a proposal to grant tax authorities access to information held by authorities responsible for the prevention of money laundering. Where a financial account holder is an intermediary structure, financial institutions are required by EU ...
Compliance Officer
November 11th, 2016
JOB DESCRIPTION: Ensure that the compliance procedures are followed in order for the Company to comply with CySEC requirements; Control over the rules, contracts, and processes; Detect risks, trends and potential suspicious activities related to money laundering; Maintain documentation ...
Switzerland is easing its FinTech regulatory framework to boost its competitiveness
November 4th, 2016
A dynamic fintech system can contribute significantly to the quality of Switzerland’s financial centre and boost its competitiveness. Against this backdrop, the Federal Council called for an easing of the regulatory framework for providers of innovative financial technologies during ...
Central Bank of Cyprus fined Privatbank €1.535.000 for AML Law violations
November 2nd, 2016
The Central Bank of Cyprus (CBC) has issued an announcement to inform for the imposition of fine on Public Joint-Stock Company Commercial Bank “Privatbank” (Cyprus branch). According the CBC’s announcement, within the remit of exercising its supervisory role, may ...
