How blockchain can help banks counter Money Laundering?

Money Laundering, Compliance failures, and fines.  According to UNODC the amount of money laundered globally in one year is between 2% and 5% of global GDP, or roughly $800 billion to $2 trillion in current US dollars. The growing amount of financial crime despite all the checks, measures and compliance continues to be a major global challenge for banks...

5 Steps Into 5th Anti-Money Laundering Directive by Coinfirm

What is Anti-Money Laundering Directive? It is the European Union directive that aims to prevent the use of financial systems for money laundering or terrorist financing. The 5th Anti-Money Laundering Directive, which amends the 4th Anti-Money Laundering Directive was published on May 30th, 2018, as a result of the constantly changing financial situation of the...

How can crypto companies enter the Abu Dhabi Global Market?

Abu Dhabi Global Market (ADGM) is one of the biggest and most prosperous financial centers on the globe. Located in the capital of the United Arab Emirates, ADGM has a regulatory branch called the Financial Services Regulatory Authority (FSRA). If any company wants to be a member of the hub, it has to pass through...

Crypto Derivatives Platform Overbit Partners With Coinfirm To Implement AML Framework | Coinfirm.com

December 18, 2019 – Leading Bitcoin derivatives trading platform, Overbit, has announced its collaboration with Coinfirm to enhance the trading platform’s anti-money laundering (AML) measures using Coinfirm’s AML & Analytics Platform. Overbit partners with Coinfirm to assess and analyze AML risk across its crypto, forex and metal trading instruments on their BTC trading platform. An established player...

Coinfirm releases new Standard AML Risk Reports for Cryptocurrencies

This past year the crypto world has seen quite an evolution around regulatory guidelines with AMLD5 and FATF travel rule being debated, big tech giants like Facebook venturing into crypto, new age banks embracing blockchain and offering crypto services, crypto exchanges still being hacked and crypto traders continuing to be victimized by wide range of...

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