Search Results for: money laundering
MAS: Falcon Bank to Cease Operations due to serious failures in AML controls
October 11th, 2016
The Monetary Authority of Singapore (MAS) announced today that it is withdrawing the merchant bank status of Falcon Private Bank Ltd, Singapore Branch (Falcon Bank) for serious failures in anti-money laundering (AML) controls and improper conduct by senior management ...
Spain to impose Taxation on Bitcoin Miners
October 3rd, 2016
A recent notice from the official taxation authority in Spain sees bitcoin mining fall under the purview of an economic activity, opening cryptocurrency mining to taxation. Bitcoin and cryptocurrency miners in Spain will see taxation of their profits, a ...
European Parliament Begins Panama Papers Inquiry
September 29th, 2016
The European Parliament has begun its inquiry into the Panama Papers with a hearing with the investigative journalists behind the leak. The European Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance, and Tax Evasion (PANA) held its first ...
Estonia makes bank account opening easier; Open without visiting a branch
September 23rd, 2016
Estonian residents and e-residents will be able to open current accounts without visiting bank branches according to a draft regulation of the Minister of Finance. “We will make opening a bank account easier and faster for everyone, including e-residents,” ...
Lawyers must rebuild trust – Christine Lagarde
September 22nd, 2016
Lawyers have a key role to play in rebuilding public trust in institutions, the head of one of the globe’s most important bodies told thousands of lawyers gathered for the IBA’s annual conference. Christine Lagarde, managing director of the ...
SFC Hong Kong investigates licensed brokerages for inadequate AML internal controls
September 22nd, 2016
The Securities and Future Commission (SFC) of Hong Kong has issued an announcement to inform that its Enforcement Division is investigating a number of cases of SFC licensed brokerages with suspected inadequate anti-money laundering (AML) internal controls and it ...
Industry Experts take to stage for Fintech EUROPE London 2016
September 20th, 2016
Managers of Wealth (MoW) event FinTech EUROPE 2016 is to be held in central London on 27 October, 2016. The speakers represent many industry leading organisations and have extensive experience which contributes to their interesting, stimulating and insightful topics ...
Coinpit Takes First Steps Toward Trustless Bitcoin Futures Exchange
September 15th, 2016
Coinpit is taking significant and innovative steps to offer a safer alternative to Bitcoin’s custodial futures exchanges. Thanks to Bitcoin’s multi-signature technology, users that store bitcoins on Coinpit remain in complete control of their funds. Even if the exchange is ...
Inexperienced Chinese investors are getting stung by fintech scams
September 8th, 2016
China is witnessing a fintech boom. Companies providing electronic payments, cryptocurrency trading and other online financial services there are not only mushrooming, they are among the biggest and most highly rated in the world. The Fintech 100, a ranking ...
Brazilian Police Launch Investigation Into Alleged Fraud at Pension Funds
September 6th, 2016
Brazilian police on Monday said they launched an investigation into alleged fraud of as much as 8 billion reais ($2.5 billion) at the country’s four largest pension funds, all of which are linked to state-controlled companies. Judge Vallisney de ...
