Sentences with phrase «because money laundering activities»

Not exact matches

Because of legislation such as the Bank Secrecy Act, signed into law in 1970, and the Patriot Act, which was made law in 2001, those institutions must maintain strict compliance programs to monitor for signs of money laundering, terrorist financing, and other criminal acts, and they are obligated to report suspicious activities to authorities.

Canadian and international banks take the position that they won't board bitcoin clients because of concerns that bitcoin entities could be used to facilitate drug money laundering activities.

Kelly's remarks were also made on the very same day of the US Treasury stating that cryptocurrencies are a threat both because of its anonymous nature which facilitates nefarious activities such as terrorist - funding and money laundering.

Firstly, because tumblers are usually associated with money laundering activities, they are big targets for law enforcement agencies who want to limit malfeasance.

This is because most companies that sell money transfers are subject to anti-money laundering laws and counter-terrorist financing standards, which require providers to exercise their due diligence to confirm that you're not using their services for terrorist or otherwise nefarious activities.