Sentences with phrase «money laundering concern»

This cuts to the core of government's power and prerogative of issuance, making bitcoin primarily a central bank concern - not a money laundering concern.

Would the government classify our clients - bitcoin businesses - as entities of primary money laundering concern?

The United States on Wednesday declared North Korea a «primary money laundering concern,» and moved to further block its ability to use the U.S. and world financial systems to fund its weapons programs.

Lael Brainard, a governor at the U.S. Federal Reserve, has said bitcoin and its peers raise investor protection and money laundering concerns.

Although bank wire transfer is allowed, it is best to avoid using it because of the money laundering concerns associated with it and its subsequent high fees.

When political leaders assert that cryptocurrency must be regulated due to money laundering concerns, what they really mean is «We're largely powerless to prevent fiat currency laundering so we're going to focus our efforts on cryptocurrency instead».

Lael Brainard, a governor at the U.S. Federal Reserve, has said bitcoin and its peers raise investor protection and money laundering concerns.

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.

Designated Terrorist List, Debarred Parties, Designated Terrorist Organization, Non-Proliferation Sanctions (various) Debarred Persons, Entity List, Red Flag Concerns Specially Designated National Excluded Parties List FINCEN Money Laundering Concerns

Not exact matches

Chinese regulators have been on the forefront of a global push to rein in the frenzy surrounding cryptocurrencies amid concerns over excessive speculation, money laundering, tax evasion and fraud.

EU leaders have voiced concern about money laundering.

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

Sources described as «close to» the agency apparently said that the move comes in response to concerns over money laundering and other possible illegal uses of the cryptocurrencies.

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.

«Virtual currencies... raise concerns of consumer protection, market integrity and money laundering, among others,» the RBI said in a statement explaining its decision after its bimonthly monetary policy meeting.

The Financial Services and Treasury (FSTB) of Hong Kong has released its Money Laundering and Terrorist Financing Risk Assessment report which indicates that cryptocurrencies are left out of organized crime or ML / TF concerns.

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

(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.

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.

The main concerns behind this decision were money laundering and price fluctuations.

FINMA's guidance is related to legal and security concerns surrounding «provisions on combating money laundering and terrorist financing; banking law provisions; provisions on securities trading; and provisions set out in collective investment scheme legislation.»

Iran's central bank last week prohibited local banks from dealing in cryptocurrencies due to concerns about money - laundering as the country tries to halt a currency crisis ahead of a possible return of crippling sanctions.

Today, Kattoor raised concerns about «consumer protection, market integrity, and money laundering» as well as other issues that surround cryptocurrencies.

In an attempt to halt a currency crisis, and over concerns related to money - laundering, the Central Bank of Iran has banned the banks of the country from dealing in virtual currencies such as Bitcoin.

Reports that Iran developed its own blockchain - based cryptocurrency also garnered some attention, as the news came just days after the country's central bank banned bitcoin trading amid escalating concerns on money - laundering and volatility of such digital coins.

«Virtual currencies (VCs), also variously referred to as crypto currencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others,» the RBI mentioned.

The Bank of Indonesia is concerned about the potential role of the crypto currency in money laundering and terrorist financing, suggesting that citizens...

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.

Legitimate businesses need to be concerned with the possibility of money laundering, as it can present a major risk to the company, both... Read more»

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».

It's recommended that readers still consult legal counsel and contact a lawyer should they have any concerns regarding potential money laundering.

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 bail - out, first requested in June 2012, was delayed partly because of concerns expressed by eurozone states, notably Germany, that its financial sector was opaque, thus aiding money laundering.

Concerns surrounding usage of cryptocurrencies in illegal activities, such as money laundering, are well founded.

Urges all Member States to promptly and correctly transpose into their national legislation all existing EU and international legal instruments concerning organised crime, corruption and money laundering; urges Member States and the Commission to complete the Roadmap on the rights of suspects and accused persons in criminal proceedings, including a directive on pre-trial detention;

In addition to the money - laundering, lifestyle, income tax, etc issues discussed already in other answers, one other matter that might concern the bank is whether that cash you are bringing in to deposit is genuine currency or (some or all of) the bills are counterfeit and you are using this mechanism to get them into circulation.

In light of the Globe and Mail's explosive story revealing how drug money from the fentanyl trade is being laundered through Vancouver real estate with money provided by private mortgage lenders, there are concerns that the issue has been misrepresented

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.

«Lawyers, they're the biggest problem with money laundering in this country, as far as I'm concerned,» says Marsh, now president of IPSA International.

Corporate fraud legal firm Rahman Ravelli has advised businesses on how to spot money - laundering threats within an organisation and communicate concerns.

In the past three years, concerns over money laundering has led the SRA to close down eight firms, with a further 14 closing voluntarily.

In contrast, this pales to the magnitude of concerns I feel about the B.C.SC striking down the money laundering laws that apply to lawyers.

«These teams receive intelligence from law enforcement, banks and other regulators, as well as reports from those we regulate about activity that might give rise to money - laundering and terrorist - financing concerns and the effectiveness of practice within firms.

Regulators have placed six law firms in ongoing «disciplinary processes» as a result of «serious concerns» over money laundering uncovered during a review of 50 firms.

Jessica has also appeared as a lead junior in cases concerning murder, kidnap, money laundering and slavery.

The Commission has also clarified that FIUs are given a power in the Directive to request information concerning money laundering or terrorist financing from an obliged entity, even if a Suspicious Transaction Report has not been filed.

Critics are now concerned about the number of properties not registered in the UK and say it's sometimes used as a method to launder money.

He oversaw the investigation and litigation of major criminal and civil matters concerning government procurement, healthcare fraud, securities fraud, national security, international corruption, economic sanctions, money laundering and structuring, and cybersecurity.