Anti-Money Laundering (AML) Archives

BIS Bulletin Proposes Revamping Crypto AML Measures With Compliance Scores

The paper, issued by BIS economists, proposes using blockchain as a transaction history to overcome the limitations faced by current AML measures when dealing with decentralized assets, such as cryptocurrencies and stablecoins, in order to protect off-ramping institutions. BIS Bulletin Proposes Using Blockchain History to Build Crypto AML Score The expansion of cryptocurrency and stablecoins […]

Paxos Agrees to .5 Million Settlement Over AML Deficiencies Linked to Binance Partnership

Paxos Agrees to $48.5 Million Settlement Over AML Deficiencies Linked to Binance Partnership

Leave a Comment / Anti-Money Laundering (AML), Binance, New York NY, News Bytes, News Bytes - 5 / best time

The New York State Department of Financial Services (DFS) has reached a $48.5 million settlement with Paxos Trust Company due to deficiencies in its anti-money laundering (AML) program and failures in due diligence related to its partnership with Binance. Superintendent Adrienne A. Harris announced that Paxos will pay a $26.5 million penalty and invest an

Paxos Agrees to $48.5 Million Settlement Over AML Deficiencies Linked to Binance Partnership Read More »