It’s official: social media platform Facebook steps into the fintech market with cryptocurrency platform Libra

According to a report published by Reuters, Facebook has been silently setting up a financial technology firm in Switzerland. The platform’s fintech firm is called Libra Networks, and it will solely focus on payments, investing, financing and other financial technology solutions. Details concerning the cryptocurrency platform have been released a few days ago. We will [...]

It’s official: social media platform Facebook steps into the fintech market with cryptocurrency platform Libra2019-06-25T14:15:07+00:00

Dutch Financial Authorities are planning to license a crypto scheme for exchanges

In order to prevent money laundering and terrorism financing, Dutch Financial Authorities have decided to plan a licensing scheme for crypto exchanges. This decision stems from a report that was published by the nation’s central bank, De Nederlandsche Bank (DNB), and the AFM which is the Dutch Authority for the Financial Markets. The report concludes [...]

Dutch Financial Authorities are planning to license a crypto scheme for exchanges2019-02-25T13:31:10+00:00

AML Management: Challenges and Opportunities

The U.S. government has fined Rabobank National Association, a California-based subsidiary of Coöperatieve Rabobank U.A. (Rabobank) with EUR 298 million after admitting deficiencies with the Anti-Money Laundering (AML) compliance program. Money Laundering is a threat to the long-term sustainability of businesses. In the eyes of the regulators, AML is critical because it compromises a company’s [...]

AML Management: Challenges and Opportunities2018-02-16T10:20:34+00:00

EU’s Fourth Anti-Money Laundering Directive is effective

On July 5th 2016, the European Commission published a proposal to amend the Fourth Anti-Money Laundering Directive (AMLD4). Slightly more than one year later, the regulation marks its implementation date. As of June 26th 2017, all obliged entities will have to comply with the new framework. AMLD4 aims to mitigate the heightened risk of money laundering [...]

EU’s Fourth Anti-Money Laundering Directive is effective2017-06-30T09:50:03+00:00

AML / CTF in the Customer Domain

The introduction of new regulations and the proliferation of emerging technologies are changing customers' expectations of banking products and services at the speed of light. As a result, financial institutions have to change the way they operate, and how they offer their financial services and products. In order to meet customer expectations, while at the [...]

AML / CTF in the Customer Domain2017-04-18T08:48:24+00:00