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Crypto is top money laundering threat, warns new EU watchdog
Europe’s new anti-money laundering watchdog has warned that crypto assets are its biggest challenge to stop dirty money infiltrating the region’s financial system. Bruna Szego, chair of the EU Anti-Money Laundering Authority, told the Financial Times that the crypto market is a clear priority because it is “significantly exposed to money laundering and terrorism…
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Brazil central bank tightens rules for virtual assets, cryptocurrency
BRASILIA, Nov 10 (Reuters) – Brazil’s central bank on Monday released long-awaited rules for trading virtual assets, including cryptocurrencies, that will extend existing rules against money laundering and terrorism financing to virtual-asset service providers. Latin America’s largest economy approved a legal framework for cryptocurrencies in 2022, but its rollout hinged on complementary regulation from…
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Financial crime watchdog calls for countries to come clean on shell companies
PARIS, Sept 3 (Reuters) – The head of the global financial crime watchdog has called on countries to come clean on the use of shell companies, calling them the “getaway car” for criminals, and said the problem would be a key part of a new round of national assessments. The Financial Action Task Force’s…