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Switzerland is going to amend anti-money laundering law
**Switzerland plans to amend its anti-money laundering law** and, once these changes come into force, the financial intermediary will be required to verify information on beneficial owners. The national authorities of Switzerland have been taking various measures in combating the illegitimate funds, amid intense global pressure from various countries and actively discussed the proposed amendment...
Path: BlogThe new anti-money laundering law of the Island of Man
... Royal Assent was granted to the Anti-Money Laundering and Other Financial Crime Act 2018.** This actually means that it is an official AML/CFT law from now on. This was an expected development in mind of the recent trend of updates in the field of anti-money laundering law. The Isle of Man is a well-regulated and developed international business center and the new law will help to preserve i...
Path: BlogAttempts to Unify Cryptocurrency Regulation and Introduction of the Travel Rule
...formation covers both the sender’s and recipient’s name, geographical address and account details. The United States is charged with the conception of the FATF guidance after basing the directives on the Bank Secrecy Act (BSA) — the primary anti-money laundering law in U.S. In 2013, the Financial Crimes Enforcement Network (FinCEN) determined that the BSA should apply to the cryptocurrenc...
Path: Blog