Day: July 25, 2024

Written by FinCrime

Coinbase UK unit fined for breaching financial crime requirements

Reported by Huw Jones A Coinbase business in Britain has been fined for breaching a regulatory agreement to improve its defences against financial crime, in the first sanction of its kind in the UK cryptoassets sector. The Financial Conduct Authority (FCA) said on Thursday that CB Payments Limited (CBPL), a gateway for customers to trade […]

Written by FinCrime

Plans to Boost Anti-Money Laundering Rules Put Banks on Notice

Reported by Jim Vivenzio of Perkins Coie The Financial Crimes Enforcement Network’s proposed rules seek to streamline AML/CFT program rules across banks, broker dealers, mutual funds, insurance companies, futures commissions merchants, commodities brokers, casinos, and money services businesses, among others. FinCEN and federal banking agencies propose these key changes: New statement of purpose. This intends to summarize the […]