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...

Challenger Exchange Coindeal Enters the US Market Using New AML and Transparency Tools as an Advantage

Along with its growth, the cryptocurrency economy is constantly being impacted with advancing regulatory changes, especially focused on AML. Cryptocurrency Exchanges now won’t only be competing on pricing, features and benefits but how an exchange is ensuring transparency and security of operations for its customers. Growing exchanges such as Coindeal are using new AML solutions by Coinfirm and providing...

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...

Billions of dollars in lost cryptocurrency could be saved as Coinfirm launches 1st end-to-end crypto reclaim solution

With over $4b in stolen cryptocurrency so far this year in hacks alone, the growing number of Hacks, Scams, Ransomware, Ponzi schemes and other nefarious actions call for the need of an effective system for victims to attempt to reclaim these funds. Yet, there is no full solution accessible to victims on the market that...

Coinfirm’s AML & Analytics platform integrates XRP

Cryptocurrency maturing - Analytics and AML for XRP enabled with Coinfirm integration With countless banks and financial service providers set to use XRP, Coinfirm has provided the first AML analytics solution for the protocol. As the market is continuously proving, one of the largest roadblocks as well as opportunities for mass adoption of cryptocurrencies and...

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