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State Regulators Take First Step to Standardize Licensing Practices for Fintech Payments
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • February 8 2018

Earlier this week, the Conference of State Bank Supervisors (CSBS) announced that seven states have agreed to a multi-state compact that standardizes


Central Bank of Malaysia Issues Standards for Electronic Know-Your-Customer (e-KYC)
  • Baker McKenzie
  • Malaysia
  • December 15 2017

On 5 September 2017, the Assistant Governor of the Central Bank of Malaysia (BNM) announced that BNM will issue regulatory parameters for the conduct


Gambling Commission consults on AML guidance
  • CMS Cameron McKenna Nabarro Olswang LLP
  • United Kingdom
  • August 21 2017

The Gambling Commission is consulting on potential updates to its anti-money Laundering (AML) guidance for remote and non-remote casinos. The


Significant FinCEN Action Against BTC-e, Implications for Virtual Currency Exchangers
  • Steptoe & Johnson LLP
  • USA
  • August 1 2017

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a civil monetary penalty of $110,003,314 against Canton


Bitcoin Exchange and Operator Charged With Money Laundering
  • Katten Muchin Rosenman LLP
  • USA
  • July 30 2017

BTC-e, a digital currency exchange, and Alexander Vinnik, who purportedly directed and supervised BTC-e's finances and operations, were criminally


FinCEN, California U.S. Attorney Assess Civil Money Penalties Against Virtual Currency Transmitter and Operator for AML Violations
  • Buckley Sandler LLP
  • USA
  • July 28 2017

On July 27, the Financial Crimes Enforcement Network (FinCEN), in partnership with the U.S. Attorney’s Office for the Northern District of California


The fourth Anti-Money Laundering Directivea risk-based approach
  • Corker Binning
  • United Kingdom, European Union
  • June 20 2017

The EU's fourth Anti-Money Laundering Directive (EU) 2015849 (4AMLD) comes into force on 26 June 2017. Partner Peter Binning says the Directive


Western Union to Pay $586 Million in Restitution and Civil Penalties for AML Compliance Failure
  • Bradley Arant Boult Cummings LLP
  • USA
  • April 20 2017

On Jan. 19, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve


Is Your Data Ready to Move to a Uniform Report Submission? NMLS MSB Call Report Adopted for 22 Licenses as of January 1st
  • Bradley Arant Boult Cummings LLP
  • USA
  • December 16 2016

Seventeen state agencies, affecting 22 license types, have currently committed to adopt the NMLS MSB Call report for Q1 2017 reporting. The NMLS MSB


New York’s Proposed Cybersecurity Regulation for Financial Institutions: A Bellwether for Comprehensive Cybersecurity Requirements Elsewhere?
  • Adams and Reese LLP
  • USA
  • September 27 2016

On September 13, 2016, New York Governor Andrew M. Cuomo announced a new proposed regulation that would require banks, credit unions, insurance