ComplyTech

🇸🇬👉This time our CEO Michel Farah talks Singapore to Finyear.com





https://www.finyear.com/The-State-of-Cryptocurrency-Regulations-in-Singapore_a41537.html

The State of Cryptocurrency Regulations in Singapore The Asian city-state has been pretty lax about cryptocurrency market regulations, but the country’s strict Anti-Money Laundering measures signal stricter industry oversight in the near future. A compliance expert predicts that a possible wave of new regulations could force some of the crypto...

🚩👉"Potentially risky customers pose imminent threats to a financial institution. These may include politically exposed persons (PEP), someone with a criminal record or bad reputation, someone located in a jurisdiction which is deemed to pose a higher money laundering or fraud risk due to high level of corruption, or is vulnerable to terrorist activities, or lacks AML legislation." - says CEO of ComplyTech M. Farah

Anti-money laundering and know your customer: compliance challenges financial institutions face Earlier this year, the Bank of Lithuania released a report stating that the number of startups in the financial sector grew by more than 40% over the year. Rapid growth comes with a number of challenges such as data protection regulations, digital customer identification, and money laundering preven...

❗👉Three of the most important financial regulatory bodies in the US namely: SEC, FinCEN and the CFTC - issued a rare 3-party joint statement on Friday regarding digital assets.

The statement highlighted that people engaging in digital asset activities have to adhere by their anti-money laundering and countering terrorism financing (AML/ ) obligations via the Bank Secrecy Act ( ).

US regulators issue statement on digital asset AML obligations The leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission (the “Agencies”) today issued the following joint statement to remind persons engaged in activities involving digital assets of their anti-money...

🔝💡Another week another event!

Today we attended event that aims at bringing together industry experts from financial markets, risk, compliance and anti-money laundering by encouraging interactive discussions and presentations on key risk and compliance themes.

Insightful and inspiring presentations about the most recent developments on money laundering, corruption and human rights abuses regulation and law enforcement, AML compliance trends and challenges in Lithuania, ways to reduce operational costs and enhance efficiency in compliance, among others.