Sentences with phrase «facilitating money laundering»

So things like drug sales - and there is growing evidence towards these cryptocurrencies facilitating money laundering.

Manulife Financial said in its statement that it did not enable or facilitate money laundering.

«The involvement of a small minority of complicit, negligent or unwitting professionals in the financial, legal and accountancy sectors facilitates money laundering,» he said.

Government agencies are inherently suspicious of bitcoin, and regulators won't hesitate to shut down exchanges that are found to have facilitated money laundering or conducted inadequate KYC procedures.

The relative anonymity of these currencies facilitates money laundering and minimizes risk of detection.»

According to Japan Times, the exchange has recognized the risks posed by these cryptos that can potentially facilitate money laundering.

Not exact matches

At the same time as a result of sloppy execution some of these banks are guilty themselves of facilitating drug money laundering activities and as a result have paid billion dollar settlement fines.

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.

And, as United States Attorney from the Eastern District of New York, she was involved in two high profile financial fraud cases, one in which Citicorp paid $ 7 billion in settlement for its role in the mortgage - backed securities fraud, and one in which HSBC paid $ 1.7 billion and took a deferred prosecution agreement for facilitating money - laundering.

AUSTRAC will up the ante in its case against the Commonwealth Bank of Australia, with the transactions regulator expecting to file fresh allegations on Thursday that it breached the law 100 additional times while facilitating banking by criminal syndicates involved in money laundering and terrorist financing.

That can help reduce instances of money laundering and facilitate cross-border payments.

The Australian government explains that it has taken the same approach that countries such as the United States, United Kingdom, and Canada have taken regarding digital currency businesses because it will facilitate innovation and follow guidance issued by the Financial Action Task Force — the international regulator for preventing money laundering, terrorism financing, and other dangers that hinder the world's financial system.

Companies registered in tax havens are often used for legitimate business purposes, but also can facilitate tax evasion and money laundering.

The Chartered Institute of Taxation (CIOT) has warned that legislation in today's Queen's Speech must have effective guidance so that companies know when they are taking adequate measures to guard against rogue members of staff facilitating tax evasion or money laundering.

The site founders face federal charges of facilitating prostitution and money laundering, according to an indictment.

Mr. Farrer joined the Liberty Asia team in mid-2015 (www.libertyasia.org), and leads the actionable research team that, in collaboration with NGOs, due diligence firms, and professional advisory and service providers, collates and format information designed specifically inform to the financial services sector under the anti money laundering (AML) framework, to proactively identify those individuals and entities that are either directly facilitating or indirectly financially benefiting from human (and / or wildlife) trafficking.

Any organisation that facilitates financial transactions — including non-bank money service businesses such as digital / mobile payment services, life insurers and retailers, to name a few — is also coming within the scope of anti-money laundering legislation worldwide.»

«Its not hard to imagine how these books could be used to launder money using stolen credit cards or facilitating transactions for illicit materials or funding of illegal activities,» Reames told Krebs.

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.

This identity confirmation is designed to prevent money laundering and other illegal activity that could be facilitated by the use of cryptocurrency.

The main reason behind the same is increasing fear of regulators regarding the fact that such digital tokens are used to launder money and facilitate financial crimes.

The obligatory reporting of transactions suspected to be part of money laundering and drug trafficking was also made part of the legislation in an effort to crack down on use of cryptocurrency as a medium to facilitate illegal financial activities.

Aside from these, Lagarde talked about how the anonymous nature of digital coins can help facilitate scams, money laundering, and terrorism funding.

Issuers or financial intermediaries of the ICO would also be subject to licensing requirements of the Singaporean legislation, and will also have to comply with the requirements for countering money laundering and financing of terrorism.It is worth mentioning also that the Singapore regulator also speaks about licensing of cryptocurrency exchanges, where tokens of projects will be traded after ICO: «In addition, platforms facilitating secondary trading of such tokens would also have to be approved or recognised by MAS as an approved exchange or recognised market operator respectively under the Securities and Futures Act.»

More specifically, the world's leading cryptocurrency «facilitates» trade - based money laundering schemes.

Under the country's reformed (and strengthened) money laundering laws, exchange platforms facilitating the trading of cryptocurrencies like bitcoin will be regulated under the purview of AUSTRAC, the country's financial intelligence agency.