Sentences with phrase «money laundering activities which»

(c) Banks are apprehensive about boarding bitcoin entities over concerns related to money laundering activities which could be carried out by their newly boarded digital currency clients.

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.

Franklin Templeton is firmly committed to international efforts to combat money laundering and the funding of terrorist and criminal activities, and as such it makes every effort to remain in full compliance with all applicable anti — money laundering («AML») and anti — terrorist financing («ATF») laws, rules and standards adopted in the jurisdictions in which it does business.

«We have simply noted in conversation with Mr. de Voogd that without the registration required by the Money Laundering and Terrorism Prevention Act, offering financial service could be grounds for criminal proceedings for illegal economic activity, which is a standard practice for, say, pawnshops.

While Bulger «informed» the bureau of his enemy's dealings, the FBI, and agent John Connolly (Joel Edgerton) in particular, almost turned a blind - eye to the horrific criminal activities that he was undertaking, which included racketeering, money laundering, extortion, and multiple murders.

Franklin Templeton is firmly committed to international efforts to combat money laundering and the funding of terrorist and criminal activities, and as such it makes every effort to remain in full compliance with all applicable anti — money laundering («AML») and anti — terrorist financing («ATF») laws, rules and standards adopted in the jurisdictions in which it does business.

The circular also noted the untraceable and anonymous nature of virtual currency transactions, which makes them open to criminal activities such as funding terrorism and money laundering.

Recently China banned all ICO proceeding as they suspected a deep rooted link in between these shady crypto activities and money laundering which largely affected the unsuspecting investors.

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.

The information gathered can be used to create «threat scores,» which bank specialists can use «to identify behavior for a banking customer that is suspicious and indicates high likelihood of money laundering activity.»

According to recent reports, the Australian Parliament is all set to join the party with a bill in favour of strengthening the country's laws against the evil clasp of money laundering which tapers in along with cryptocurrency activities.

Currently, Singapore, which is considered to be the Asian hub for finch and initial coin offering, does not regulate digital assets market, though the central bank watches for the activities that may pose certain risks, such as money - laundering or other illegal transactions.

BTC - e Operator Jailed On The Face Of Illegal Activity Accusations BTC - e has come under the glare lately for its involvement with financial crimes including money laundering which funded ransomware attacks and drug trafficking.

Bing holds the opinion that the ban shall be in place until regulatory policies and frameworks for both projects and ICO investors are introduced by local financial regulators which surely will serve as a bridge over troubled waters caused due to illegal money laundering and other associated activities which use ICO as a safe haven.

South Korea's Financial Services Commission has enacted a series of rules which it hopes will «reduce room for cryptocurrency transactions to be exploited for illegal activities such as crimes, money laundering, and tax evasion.»

It added that it currently was evaluating how it should regulate activities involving digital tokens, which did not function solely as virtual currencies, against money laundering and terrorist funding risks.

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.

The Advisory provides examples of money laundering in the real estate sector, how shell companies and all - cash purchases may be linked to illicit activity, and ways in which real estate professionals» can voluntarily file suspicious activity reports.

This resulted in FINTRAC developing the recently released 12 - page operation brief titled Indicators of Money Laundering in Financial Transactions Related to Real Estate (www.fintrac.gc.ca/publications/operation/real-eng.asp), which details 39 indicators that may indicate suspicious activity.