Sentences with phrase «for money laundering concerns»

Not exact matches

As such, the financial watchdog is concerned that the platform could be used for money laundering activities.

The document also notes the central bank's concern that these digital assets could be used for illegal purposes, including money laundering and the support of terrorism.

He said the bank is concerned bitcoin might be used for fraud or other illegal activities like terrorism, money laundering, prostitution, drug trafficking.

This time, Mnuchin has issued a warning that bitcoin has all the makings of the next «Swiss Bank Account,» expressing concerns that are twofold — bitcoin could be treated as an offshore account for money laundering and the rise of the cryptocurrency places consumers in a position to get hurt.

Fed Chairwoman Janet Yellen has also voiced concerns about the potential for money laundering, while the bank has remained muted about the possibility of issuing its own «Fedcoin».

US officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a «global financial disaster», a report says.

The facts speak for themselves in terms of affordability but what truly concerns us the most is what seems to be a very high incidence of mortgage fraud, tax evasion, and perhaps money laundering in the Canadian housing market.

The rest of the post includes some speculation about the source of the park's photos (Hollywood movie sets) and the reason (money laundering, real estate concerns) for the hoax.

Finally, concerns existed that Belize served as a center for money - laundering.

We have acted for individuals in internal investigations concerning benchmark rates including LIBOR and EURIBOR, the allegations of manipulation of the FX markets, as well as allegations of corruption, fraud, computer misuse, sanctions breaches and money laundering.

Ten convictions concerned sexual offences, two were for murder (compared with 10 the previous year), one for infanticide, six involved money laundering, one involved offences connected with terrorism and one robbery.

Money laundering and funding of illegal transactions via these cryptocurrencies has been another area of concern for Indian regulators.

«For example, at present concerns in reputation and money laundering remain in bitcoin trading,» the minutes read.

The government's central concern is curbing the use of cryptocurrencies for money laundering, Bloomberg reports.

One of the biggest concerns raised has been the likelihood of organized criminals and terror cells using the anonymity offered by the blockchain technology to launder money or transfer funds for use in terror activities.

As cryptocurrency has become mainstream governments around the world have taken the first steps towards cryptocurrency regulations; Russia wants to create a robust tax regime, the UK and EU wants to force cryptocurrency to comply with Know your Customer (KYC) and Anti Money Laundering (AML) legislation and the Trump administration has voiced concerns that «Bitcoin is being used for illicit activity».

Money laundering and tax evaders continue to be among the main concerns for any government, especially in the United States, which has already resorted to employing tactics that can be considered extremely invasive into the privacy of its law - abiding citizens.

Farooq is all praises for cryptocurrency which needs «some evolution» and has also voiced concerns over money laundering which is frequently entered into through the virtual mode.

On the downside, regulators will want to restrict the movement of privacy coins for the concerns of anti — money laundering, know - your - customer and other antiterrorist financing strategies.

In regards to money laundering concerns, previous reports have indicated that reported cryptocurrency - related money laundering cases in Japan number only 669 out of 400,043 — which means cryptocurrency cases reported in 2017 only account for less than 0.17 percent of all suspected money - laundering cases in the country.

At a time when China accounted for 50 percent of Bitcoin transactions, Zhou retaliated strongly, stating concerns that the payment system was enabling money laundering and undermining capital control.

This comes at a time when governments the world over are concerned cryptos could be used for money laundering and evading tax.

In addition, «Concerns are also growing that bitcoin and other cryptocurrencies are being used for drug dealing and money laundering,» the publication expressed, adding that «It is thought that other banks will shortly follow suit.»

It recently led a concern at this year's G20 meeting, asking for regulations to avoid cryptocurrency money laundering.

Government concern over cryptocurrencies has largely centred around the potential for money laundering, terrorism - financing and tax evasion.

The meeting was an attempt to thrash out a response to bitcoin amid concerns that the unregulated virtual currency's anonymity could make it attractive for money laundering and that it falls outside of the tax system.

PBOC officials have since gone public about their desire for exchanges to have strong KYC and anti-money laundering (AML) restraints, reporting that money laundering and capital flight were top concerns.

«We are looking at formally regulating virtual currencies for two important reasons: Aspects of money laundering and consumer protection concerns,» Espenilla explained.

Yes, money laundering and terrorism is a concern for everyone, but do you really think that a terrorist or a drug dealer can't figure out how to circumvent these inconvenient forms?

While the illicit financial risk for real estate agents is often mitigated by the involvement of financial institutions already subject to strict anti-money laundering / counter-terrorist financing laws, the use of real estate in money laundering schemes continues to be an area of concern to the government.