Podcasts about financial action task force fatf

‘I think that the administration is prudently reviewing the sanctions to determine what measures could be eased, in what sequence, in the event that Russia does prove amenable to negotiations. I, for my part, believe that we will have to go down the path of additional punitive measures first.' -Marshall Billingslea on potential sanctions easing on Russia In the latest episode of the Sanctions Space Podcast, Justine is joined by Marshall Billingslea, Senior Fellow at the Hudson Institute. They discuss how the second Trump administration may be thinking about the use of sanctions and economic statecraft and what listeners should be prepared for. This includes the potential for relief - or indeed intensification - of U.S. sanctions on Russia, the increased use of tariffs, the restoration of maximum pressure against Iran, and how the administrations' fentanyl strategy is likely to play out. Marshall Billingslea is a Senior Fellow at the Hudson Institute, prior to which he was the special presidential envoy for arms control at the US Department of State, holding the rank of ambassador. Before joining the State Department, Mr. Billingslea served as the assistant secretary for terrorist financing at the US Department of the Treasury, and in 2018, he was selected as president of the Financial Action Task Force (FATF). You can read more about Marshall's background here. https://www.hudson.org/experts/1358-marshall-billingslea

Whether it is seizing restaurants, hotels, cars or Bitcoin, our guest, Joanna Summers, Chief Recovery Officer of Asset Reality, has done it all with over a decade of experience working in both the public and private sector on complex asset forfeitures. In this episode, Ian Andrews (CMO at Chainalysis) speaks to Joanna about developing asset forfeiture programs for countries all over the world and working with the Asset Reality team on their new platform to streamline the asset seizure process. Joanna shares her history at the US Marshal Service Asset Forfeiture Division and how cryptocurrency slowly started to play a bigger role in investigations and seizures, including major cases like Silk Road. This episode was originally published on February 27, 2024 and we have recorded some recent updates from Joanna Summers on the latest crypto scams, FATF's 2025 asset recovery initiatives, and Asset Reality's exciting new training programs and partnerships. Minute-by-minute episode breakdown 2 | The role of asset forfeiture and the process of seizing and selling complex assets 6 | Joanna's first encounter with cryptocurrency during 2013 Silk Road investigation 9 | Joining Asset Reality and helping countries improve their asset forfeiture programs 13 | The Financial Action Task Force (FATF) focus on global asset recovery 17 | The digital asset recovery procedures and importance of moving crypto quickly into law enforcement controlled wallets 20 | Updated: FATF's asset recovery priorities for 2025 22 | The emergence of pig butchering scams and how to protect consumers 26 | Joanna's role as an ambassador for the Association for Women in Crypto 29 | Updated: New Crypto Crimes including: address poisoning, typo squatting and clipboard hijacking 32 | Updated: Taxbit Partnership and crypto recovery outlook for 2025 Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: The Future of Seized Assets: Asset Reality is the seized asset management platform Publication: Amendments to the FATF Standards to Strengthen Global Asset Recovery News: Asset Reality Integrates with Fireblocks for Digital Asset Custody Partnership: Asset Reality and Taxbit Partner to Enhance Digital Asset Seizure and Management Website: The association for  WOMEN IN CRYPTO learn. network. advocate. Blog: 2025 Crypto Crime Report Preview: $2.2 Billion Stolen from Crypto Platforms in 2024, but Hacked Volumes Stagnate Toward Year-End as DPRK Slows Activity Post-July YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today's episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Joanna Summers (Chief Recovery Officer, Asset Reality)  This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

In this month's episode, a special double episode, Chris Capewell, Patrick Head, Michelle Bailey and Jennifer Parsons provide updates on Beneficial Ownership, Cayman Islands Monetary Authority (CIMA), Financial Action Task Force (FATF) and economic substance. They also discuss the Department for International Tax Cooperation (DITC) enforcement, annual registration fees as well as year-end reminders.Speakers:Chris Capewell, Partner | +1 345 814 5666 | chris.capewell@maples.com | View bioPatrick Head | Partner | +1 345 814 5377 | patrick.head@maples.com | View BioMichelle Bailey | Senior Vice President - Head of Cayman AEOI | +1 345 814 5711 | Michelle.Bailey@maples.com | View bioJennifer Parsons | Professional Support Lawyer | +1 345 814 5429 | jennifer.parsons@maples.com | View BioResources:Click here for Episode 16 Presentation slidesRelated Services:Maples Group Regulatory and Financial Services AdvisoryWith a depth of experience across all regulated sectors, the Maples Group Regulatory and Financial Services team is positioned to address client needs and sensitivities. We have the largest dedicated Cayman Islands Regulatory and Financial Services team in the offshore market.Follow Us:LinkedIn: https://www.linkedin.com/company/maplesgroup/Instagram: https://www.instagram.com/maplesgroup/Twitter: https://twitter.com/maplesgroupFacebook: https://www.facebook.com/maplesgroup/Website: https://maples.com/15-15

Host Tom Keatinge sits down with CFS Associate Fellow Stephen Reimer and international lawyer Ishita Chakrabati to discuss how authoritarian regimes are abusing the Financial Action Task Force (FATF) standards. Drawing on insights from a two-year RUSI study, this episode analyses how the FATF standards, which aim to tackle money laundering and terrorist financing, are being exploited by authoritarian regimes to silence dissent. With the FATF gearing up for its upcoming plenary in Paris, the findings in our recent report emphasise the urgent need for the FATF to address these abuses and for the international community to take action to ensure the standards are used as originally intended.

Ep #54 With David Caruso, Dominion Advisory Group In this episode of Regulatory Ramblings, David Caruso, a former U.S. Secret Service agent turned global financial crime fighter, shares insights from his 30-year journey in AML and financial crime compliance. With an impressive career, including time as chief compliance officer at Riggs Bank, David recounts his pivotal role in uncovering corruption scandals involving Equatorial Guinea and former Chilean dictator Augusto Pinochet. These investigations sparked significant U.S. regulatory and legal actions, influencing AML enforcement on a global scale. David reflects on the evolution of financial crime compliance, pointing to key regulations like the Bank Secrecy Act, USA PATRIOT Act, and FATCA. He critiques how the increasingly regulatory-driven focus has distracted AML teams from their primary mission. He also shares his concerns about international policy-setting bodies, such as the Financial Action Task Force (FATF), questioning whether new rules are truly effective in preventing financial crime or unintentionally stifling economic growth. The discussion wraps up with David's views on the limited success of sanctions against Russia, the potential of AI in AML/KYC compliance, and his policy recommendations moving forward. David Caruso is the founder and managing director of Dominion Advisory Group, helping banks across the U.S., Europe, and Asia navigate financial crime risk and compliance. With a background as a U.S. Secret Service agent and a degree from George Washington University, he has been at the forefront of shaping financial crime compliance since 1996, advising global institutions and building AML programs at major banks. For more details about the contents of this podcast, please visit: www.hkufintech.com/regulatoryramblingsHKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

In the last episode of this season, host Tom Keatinge, CFS Director, is joined by T Raja Kumar, former President of the Financial Action Task Force (FATF). They discuss some of the key achievements during his presidency, such as his focus on asset recovery, increased FATF engagement with regional bodies around the world, the unprecedented suspension of Russia from the FATF, and what to expect as the next round of country evaluations begins.

“It's going to be pivotal for us to keep up with where criminals are going”In this episode, Aidan and Kristen explore the future direction of cryptocurrency compliance.Kristen shares her perspective on the international effectiveness of the Financial Action Task Force (FATF), the challenges of implementing the travel rule, and the significance of sanctions in asset recovery to combat financial crime. They also explore the role of stablecoins in the evolving financial landscape, the potential use of AI by criminals and the implications of this technology for compliance professionals. Timestamps03:00 Kristen's background in cross-sector compliance07:00 Scrutiny on crypto companies and enforcement actions10:30 The influence and challenges of FATF in financial regulation22:30 Future of crypto enforcement and stablecoins in the US28:30 The complexities of managing frozen and sanctioned assets34:00 The future of AI in compliance and fraud detection37:30 Positivity in financial crime complianceResources MentionedKristen Hecht on LinkedIn Association of Women in Cryptocurrency (AWIC)MoonbergFATF's report on global implementation of Recommendation 15Seize & Desist E2 with FATF's former Executive Secretary David LewisAsset Reality supports the creation of The Seychelles first asset management unit (AMU)OneCoin Defendant Granted Bail pending Appeal | CoinpaperUNODC Report: Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating ThreatAbout our GuestKristen Hecht brings a wealth of expertise from her long career in financial crime prevention and compliance. For several years, she worked closely with the US Treasury Department as a Senior Advisor in the Office of Terrorist Financing and Financial Crimes (OFAC) and the Financial Crimes Enforcement Network (FinCEN), before transitioning to the private sector, where she developed regulatory frameworks for financial crimes at HSBC China, Meta, and Binance.Kristen is also a regional ambassador for the Association of Women in Cryptocurrency in France and the San Francisco Bay Area, an advisor for compliance and regulatory matters at DeFi startup Moonberg, and the Chief Compliance Officer for an undisclosed project that is currently in Stealth Mode.DisclaimerOur podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed. Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company. Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.

National Treasury deputy director-general Ismail Momoniat is confident that South Africacan meet the 10-month deadline to present concrete evidence to the Financial Action Task Force (FATF) of its efforts to combat money laundering and terrorist financing. Ismail Momoniat and and host, Motheo Khoaripe delve into what impedes SA from exiting the grey list.See omnystudio.com/listener for privacy information.

Welcome to The Protectors Podcast, your frontline defense against the ever-evolving world of fraud and scams. In this episode, Mike, Mark, and our expert guest, Detective Matt Hogan, bring you the latest insights on how criminals are exploiting the crypto craze by uncovering the sophisticated schemes and methods cybercriminals use to swindle millions. Whether you're a seasoned crypto investor or a curious newcomer, join us as we expose the dark secrets of the digital currency world and provide tips to safeguard your assets. The Protectors Podcast - Arming You with Awareness and InformationGUEST CONTACT INFO:Det. Matt Hogan LinkedIn: https://www.linkedin.com/in/detmatthew-hogancsp/Links Mentioned on the Show:Delete Me Website: https://joindeleteme.com/Operation Shamrock LinkedIn: https://www.linkedin.com/company/operation-shamrock/Financial Action Task Force (FATF): https://www.linkedin.com/company/operation-shamrock/Chainalysis: https://www.chainalysis.com/Egmont Group: https://egmontgroup.org/National Computer Forensics Institute (NCFI): https://www.ncfi.usss.gov/ncfi/pages/about.xhtml?dswid=3511Connecticut Virtual Currency Dept: https://portal.ct.gov/dob/consumer-credit-licensing-info/consumer-credit-licensing-information/virtual-currency-mtra-faqsChina - Specified Unlawful Activities by John A. Cassara_______________________________IAFCI CONTACT INFO:IAFCI Website: https://iafci.org/Phone: 916-939-5000Advertising Opportunities and Guest Appearance: IAFCIProtectorspodcast@gmail.com

Istanbul police now have some of the world's most expensive sports cars – spoils of seized assets in a crackdown on international organised crime. It's part of Ankara's efforts to escape international scrutiny over money laundering as it seeks global investment. In the heart of Istanbul, onlookers gather around taking selfies of the police's latest addition to its carpool: a Ferrari. City police now boast some of the world's flashiest supercars, not only Ferraris but also Bentleys and Lexuses.They're the pickings of a nationwide crackdown on international organised crime involving narcotics smuggling and money laundering.Turkey's unique geography straddling Europe and Asia makes it an ideal centre for international crime."Turkey is in between the continents. So once you want to transfer a commodity which is illegal, it may be drugs, etc, you must have a step here," says Murat Aslan of the Foundation for Political, Economic, and Social Research, a think tank in Ankara.Gang links"Most criminal gangs in Europe or the United States or South America have links to the ones here in Turkey – and that is why police have started operations, especially focusing on the ones who have warrants or arrest warrants by Interpol."It's a process, and Turkey is currently in the middle of it."Interior Ministry videos show heavily armed police breaking down doors in the middle of the night at luxury addresses usually associated with Istanbul's high society.Vast quantities of cash and guns are invariably recovered. Among those arrested are some of the world's most wanted criminals from Europe, Asia, and the United States, most connected to the illicit drugs trade, underlining Turkey's status as a hub for the European narcotics trade.Last week, Turkish police, with their Spanish and French counterparts, broke up a European Central American drug cartel, resulting in dozens of arrests."According to Interpol and the Turkish police's narcotics department, Turkey has become a transshipment hub for Europe and the Middle East," says Atilla Yesilada, a Turkey analyst for Global Source Partners, another think tank."There are huge amounts of money floating around here." Turkey set on rebuilding bridges with China to improve tradeCrime hubYesilada says Turkey became a hub for international crime not only because of its geography but also because of the government's recent efforts to attract foreign currency to prop up the Turkish lira with a wealth amnesty."Look at our wealth amnesty, bring cash, bring diamonds, we don't really care. Just check it at the border or deposit it in a bank, and we'll never ask questions. This never-ask-questions part is, of course, completely in violation of the spirit of the global anti-money laundering legislation," Yesilada says.Turkish Interior Minister Ali Yerlikaya, at a recent press conference on the crackdown, announced that over 1,000 arrests – including 50 people wanted by Interpol – had been made this year, along with over 3 billion dollars in seized assets.Yerlikaya says he's committed to ending Turkey's reputation as a haven for drug kingpins."Thirty-eight mafia-type organised crime gangs, seven of which were international and 31 of which were local, were broken up," Yerlikaya says."We consider drugs a global disaster in the Turkish century. Our main goal in the fight against drugs is to ensure that Turkey becomes an inaccessible and Prohibited Zone for drugs. We consider drug crime equivalent to terrorism." Turkey cuts trade with Israel but seeks role in resolving Gaza conflictTurkey grey-listedThe crackdown follows the international anti-money laundering organisation the Financial Action Task Force (FATF) putting Turkey on its grey list of countries failing to combat global money laundering."Commercial banks and global funds are reluctant to do business with a country that's still on the grey list because, you know, too many sanctions," warns Yesilada.Turkey's crackdown on organised crime and tightening of its financial controls are part of efforts to remove itself from the grey list and escape its damaging economic impact. Interpol fights crime and controversial image, 100 years on"If we remain on the FATF grey list again, from the top of my head, 20 percent of the institutions that would otherwise be interested in investing in Turkey probably won't be able to do so because of compliance fears," Yesilada says."It is going to be a significant concern when this extensive due diligence work is undertaken, whether to make a particular investment in Turkey."The Turkish government sees increasing international investment as key to solving the country's economic woes, which means the raids on wanted international crime figures seem set to continue, along with confiscating their valuable assets.For the Istanbul police, the supply of fancy cars looks set to continue.

By Gareth VaughanHow seriously is the public sector taking the fight against money laundering and terrorism financing?This question comes up in a new episode of interest.co.nz's Of Interest podcast, featuring barrister and solicitor Fiona Hall and anti-money laundering auditor and consultant Martin Dilly.In a recent article the two raised concerns about impending job cuts to the team at the Department of Internal Affairs (DIA) tasked with supervising compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). Dilly says the DIA proposal to cut 40% of AML/CFT staff "gives us concern that that's going to affect their ability to enforce and supervise this act." There's concern whether the next evaluation of New Zealand by the Financial Action Task Force (FATF), an inter-governmental body that sets international standards and is considered the global money laundering and terrorist financing watchdog, will show NZ technically compliant with FATF's recommendations, and whether we're effective in supervising the reporting entities who must comply with the law."I have heard some reporting entities clapping their hands with joy if they're supervised by the DIA, but it's not the good reporting entities. And I like to think that most businesses are good businesses that want to comply with the law. And the risk you have is, yes, sure, if there are far fewer DIA investigators, you're less likely to get a knock on your door. But the problem is, if you do get a knock on your door, you now might be being investigated by someone who really doesn't have a good handle on the legislation, let alone a good understanding of your business. And you are going to be in a much worse position," Hall says.Dilly made an Official Information Act (OIA) request to DIA in an attempt to get more information, which he says "shows a pattern of under resourcing of the AML team within the DIA." "They were essentially budgeted to have 55 staff members. That's what they had determined was necessary...The information provided shows at no point did they ever hit 55 staff. They've been consistently below that. In 2022, they only had 37 staff instead of 55... So the question becomes, why is that?""One of the other questions I specifically asked was, has any of the budget been reallocated from the AML team to other areas of the Department of Internal Affairs? And we get some government speak here. So one of the things they talk about is they don't talk about reallocation. They use the terminology 'a permanent reprioritisation of constant underspend.' And my question is, well, what does constant underspend mean? Why would you be underspending your budget in an area where you are tasked with implementing AML and educating and supervising these new entities [lawyers, accountants and real estate agents]?" Dilly asks.Other issues Hall and Dilly cite include different agendas and lack of consistency to AML/CFT Act supervision between the DIA, and NZ's two other AML/CFT Act supervisors, the Reserve Bank and Financial Markets Authority.The two are hopeful that Associate Minister of Justice Nicole McKee's proclamation that reforming the AML/CFT Act is "one of my priorities this parliamentary term," could lead to improvement. They would both like to see a shift to a single standalone supervisor."I think the results from the [DIA] OIA show that if it's within other ministries that you cannot trust them to not reallocate budget, whatever language they want to put on that. The other point I would really like to see is a move back to a more risk based approach. The act itself is risk based, which essentially means that we accept that people have limited resources and you are supposed to direct those resources towards the areas of highest risk in your business," says Dilly.Hall would like to see better supervision of the supervisors.The two also have many tales of frustration and contradiction. Hall gives the example of a client that collects school donations, arranges school lunches, the uniform shop, and sells tickets to school shows, and has been deemed high risk of money laundering."I sat with the Minister and said, 'look, how does buying two pairs of grey shorts from a school uniform shop ever get anywhere near, I mean, this is where I'm going to launder my money?' It is ridiculous."On the flip side she points out the likes of Ticketmaster, selling tickets to shows, aren't considered reporting entities None of those are considered reporting entities, and neither are travel agents who have trust accounts and manage funds."So we have this real disconnect, in my view, even about who is and isn't a reporting entity," Hall says.Meanwhile in the real estate sector, they have to do customer due diligence."Their customer is the vendor, it's not the buyer, which I always find so interesting because that's where the money is. And often a property's been bought years and years before, and suddenly, you know, the vendor's been asked to prove how they purchased this and how they funded it, and there is resistance."There are also personal anecdotes. Dilly says the bank he has been a customer of for more than 40 years asked him about an account he has had for 25 years."They have full visibility of every one of my financial transactions. And I was interrogated as to what my plans were for that account. And my thinking was why? Why would you rely on anything I tell you when you've got 25 years of data on my behaviour? If I was an actual money launderer, why would I give you a straight story?"And here's Hall; "I was at the supermarket checkout and I'd been having a particularly trying day for poor entities [clients] that I didn't think should be captured [by the AML/CFT Act] at all. And I was standing in line and I looked up and I was behind a whole lot of gang members...They were buying lots of meat, lots of alcohol, and out came the wads of cash. And I thought, 'my poor clients who are spending all their money trying to comply, and really there's the money that we probably are looking for right in front of me."Much more is discussed in the podcast including why the public should care about the fight against money laundering and terrorist financing and the impact of it, the purpose of it, concerns NZ could end up on a grey list, concerns over whether the Police Financial Intelligence Unit is reactive and doesn't have the capacity to deal with all the suspicious activity reports they receive, quick wins with asset seizure where there's a lower threshold from a legal perspective, and more.*You can find all episodes of the Of Interest podcast here.

“If it doesn't bang or bleed, no one's doing anything about it.” In this episode of "Seize & Desist", Aidan Larkin sits down with David Lewis, Managing Director and Global Head of AML Advisory at Kroll, former Executive Secretary of the Financial Action Task Force (FATF) and leading figure in the battle against global financial crimes. They address the notorious 1% statistic, the challenges of cross-sector collaboration and explore how seized asset recovery efforts can be improved within FATF guidelines, delving into the need for effective communication, the appointment of accountable figures, and the need for urgent reforms with broader strategies that extend beyond current standards.Timestamps1 | David's background and FATF's mandate 5 | What is the 1% stat and why is asset recovery challenging12 | FATF's renewed focus on asset recovery and creating a minimum standard18 | Should the Public Sector leverage Private Sector companies to assist with seizures22 | Improvement of Government resources towards fighting financial crime 28 | The real cost of financial crime and good examples of how to combat it Resources Mentioned:RUSI websiteFATF websiteFATF plenary highlights GLOBAL COALITION TO FIGHT FINANCIAL CRIME (GCFFC)Amendments to the FATF Standards to Strengthen Global Asset RecoveryAR Blog: FATF's Trailblazing Asset Recovery StandardsAbout our Guest:David Lewis (Managing Director and Global Head of AML Advisory at Kroll) and the former Executive Secretary of the Financial Action Task Force (FATF), the intergovernmental organization that sets standards for AML/CFT globally.As a highly respected leader in the fight against financial crime, David has played a pivotal role in coordinating international efforts to combat money laundering money laundering, terrorism financing and weapons proliferation. He has been instrumental in the development and implementation of policies to identify and mitigate risks associated with financial crime.DisclaimerOur podcasts are for informational purposes only. They are not intended to provide legal, tax, financial, and/or investment advice. Listeners must consult their own advisors before making decisions on the topics discussed. Asset Reality has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Asset Reality employees are those of the employees and do not necessarily reflect the views of the company. Asset Reality does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Asset Reality.

Whether it is seizing restaurants, hotels, cars or Bitcoin, our guest, Joanna Summers, Chief Recovery Officer of Asset Reality, has done it all with over a decade of experience working in both the public and private sector on complex asset forfeitures. In this episode, Ian Andrews (CMO at Chainalysis) speaks to Joanna about developing asset forfeiture programs for countries all over the world and working with the Asset Reality team on their new platform to streamline the asset seizure process. Joanna shares her history at the US Marshal Service Asset Forfeiture Division and how cryptocurrency slowly started to play a bigger role in investigations and seizures, including major cases like Silk Road. Joanna also explains why she has recently taken on a role as an ambassador for the Association for Women in Crypto and the importance of having women's voices in the tech and crypto sector be amplified. Minute-by-minute episode breakdown (2:15) - The role of asset forfeiture and the process of seizing and selling complex assets (6:40) - Joanna's first encounter with cryptocurrency during 2013 Silk Road investigation (8:55) - Joining Asset Reality and helping countries improve their asset forfeiture programs (13:13) - The Financial Action Task Force (FATF) focus on global asset recovery (17:21) - The digital asset recovery procedures and importance of moving crypto quickly into law enforcement controlled wallets (21:40) - The emergence of pig butchering scams and how to protect consumers (26:15) - Joanna's role as an ambassador for the Association for Women in Crypto Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: The Future of Seized Assets: Asset Reality is the seized asset management platform Publication: Amendments to the FATF Standards to Strengthen Global Asset Recovery News: Asset Reality Integrates with Fireblocks for Digital Asset Custody Website: The association for  WOMEN IN CRYPTO learn. network. advocate. Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - New Training Sessions Added Blog: U.S. and U.K. Disrupt Lockbit Ransomware Group and Indict Two Russian Nationals While OFAC Levies Sanctions YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today's episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Joanna Summers (Chief Recovery Officer, Asset Reality)  This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.   

A year ago, greylisting by the Financial Action Task Force (FATF) cast a shadow over South Africa's financial landscape. This designation, which represents deficiencies in a country's regulatory regime in the fight against money laundering, proliferated financing and terrorist financing, has raised concerns about economic consequences and global competitiveness. In this podcast, Gabi Richards-Smith, Lerato Lamola, Kirsten Wolmarans, and Rashaad Carrim delve into the complex journey of removing South Africa from greylisting. This insightful discussion tackles the remaining hurdles and emphasises the collective effort needed for delisting. While challenges persist, cautious optimism prevails for a 2025 delisting and a more robust anti-money laundering system in South Africa. Guests: Lerato Lamola – Associate Director, Webber Wentzel Financial Regulatory, Kirsten Wolmarans – partner, Webber Wentzel Dispute Resolution and Rashaad Carrim – partner, Webber Wentzel Banking and Finance Host: Gabi Richards-Smith – partner, Webber Wentzel Financial Regulatory

A flurry of regulatory updates saw separate reports warn the gambling sector of its continued exposure to the threats of money laundering and terrorist financing (TF).Publishing its Independent National Risk Assessment, NRA Report, the government of Malta states that it has addressed all AML concerns of 2019, which saw the key online gambling hub placed on the Enhanced Monitoring Grey-list of MONEYVAL, and the Financial Action Task Force (FATF).Gambling exposures were further highlighted by the United Nations Office on Drugs and Crime (UNODC) report on money laundering activity in East and South-East Asia.The United Nations agency warned Asian regulators that criminal networks had embraced digital innovations to launder their illicit proceeds through gaming websites and crypto assets.In today's episode of iGaming Daily, host Edward Menmuir, Content Director at SBC, is joined by Viktor Kayed, Business Journalist at Payment Expert, and Ted Orme-Claye, Editor at Payment Expert. Together, they discuss the persistent concerns surrounding international money-laundering threats and their implications for how the global gambling sector is perceived by pan-regulatory stakeholders, as well as the potential impact on political affairs.Host: Edward MenmuirGuests: Ted Orme-Claye & Viktor KayedProducer: Anaya McDonaldEditor: James RossRemember, if you are attending the ICE London on 6-8 February 2024 at ExCeL London, make sure you head over to Optimove's stand and mention that you listened to the iGaming Daily podcast to receive an Amazon gift voucher.Check out our partners at Optimove: https://hubs.la/Q02gLC5L0

The financial crime and sanctions world has mushroomed into a global industry. Thousands of compliance officers, analysts, policymakers and law enforcement officials are involved in some element of this behemoth. Among these many thousands, a few figures have emerged as opinion formers – those who found themselves at the forefront of developments. In this episode, host Tom Keatinge, Director of the Centre for Financial Crime and Security Studies at RUSI, is joined by Danny Glaser who has spent over 20 years at the heart of US efforts to advance the fight against financial crime. They talk about sanctions, terrorist financing, and the ‘most powerful organisation few have ever heard of': the Financial Action Task Force (FATF).

The Financial Action Task Force (FATF) is an international body founded with the aim of enhancing global financial security and improving industry standards. However, in this episode, I share why I believe many of the actions that the FATF has taken are negatively impacting the FinTech space.  If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.    Today's episode: [00:37] An overview of today's episode. [01:04] The mission of the Financial Action Task Force (FATF). [01:43] How the FATF works.  [02:01] Problems with the FATF.  [02:51] How the FATF has impacted de-risking within the banking system.  [04:55] Why I disagree with the way the FATF guidelines segment industries.  [06:29] An explanation of how the FATF travel rule works.  [08:22] Consequences of the FATF's warnings about decentralized finance.  [09:55] Examples of the biases held by the FATF.  [14:28] Inconsistencies in the way the FATF assigns risk to different countries.   [15:50] Other elements of the FATF that I believe are problematic.    Show links: Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter. If you are interested, please click here.

As multilateral organisations battle strong geopolitical headwinds, the Financial Action Task Force (FATF) – the global financial crime watchdog – is not immune to such pressures. Indeed, it faces a range of challenges that are increasingly raising questions about its continued legitimacy. In this episode, host Tom Keatinge explores what these challenges are and how the FATF might stay ahead of them with two former FATF insiders, David Lewis and Michelle Harwood.

In deze aflevering van Holland Gold gaat Paul Buitink in gesprek met Simon Lelieveldt over de doorgeslagen financiële controlestaat. Simon Lelieveldt heeft gewerkt bij de Nederlandse vereniging voor banken (NVB) en bij DNB. Hij heeft al jarenlang zijn eigen adviespraktijk en is betrokken geweest bij verschillende rechtszaken om de privacy van Nederlandse burgers te waarborgen. De laatste jaren behartigt hij ook belangen van crypto-bedrijven. In het gesprek maakt hij zijn zorgen kenbaar over de toenemende inbreuk op de privacy van burgers en bedrijven door banken en de overheid en het verlies van waardevrij geld. Hij zet uiteen hoe strengere regelgeving is ontstaan en waarom deze de grondrechten van burgers en bedrijven schendt. Zo wijst hij onder meer naar de internationale projectgroep Financial Action Task Force (FATF) en verdere verscherping van de regels sinds 9/11. Ook laakt hij het feit dat de overheid steeds minder wetten en regels toetst op de grondwet en het bewust op rechtszaken laat aankomen. Op dit moment werkt hij mee aan een rechtszaak (nietigverklaring procedure) tegen nieuwe regelgeving voor cryptotransacties, de zogeheten travel rule. Deze verplicht cryptobedrijven persoonlijke data van zender en ontvanger mee te geven voor alle transacties. Wilt u aanwezig zijn bij ons volgende evenement? Koop dan hier uw kaarten: https://www.hollandgold.nl/evenement2... Extra informatie nietigverklaring procedure: https://moneyandpayments.simonl.org/2... Overwegingen privacy: https://simonl.org/wp-content/uploads... Overweegt u om goud en zilver aan te kopen? Dat kan via de volgende website: https://bit.ly/3xxy4sY Twitter: @Hollandgold: https://twitter.com/hollandgold @paulbuitink: https://twitter.com/paulbuitink @jorisbeemsterb: https://twitter.com/JorisBeemsterb1 @SvenKuijpers: https://twitter.com/SvenKuijpers @Fnhstamsterdam https://twitter.com/finhstamsterdam Time Stamps: 00:00 Intro 03:17 Begin transactie monitoring 11:00 Bewust overbelasten juridische systemen 13:14 Ontstaan anti -witwas regelgeving 19:16 Toevoeging anti terrorisme regelgeving 28:55 Delen gegevens bank betalingen 32:13 Vertrouwen in de overheid 46:07 Akkoord banken en ministerie van financiën 54:45 Complot of niet? 01:01:24 Nietigverklaring procedure 01:14:18 Outro Let op: Holland Gold vindt het belangrijk dat iedereen vrijuit kan spreken. Wij willen u er graag op attenderen dat de uitspraken die worden gedaan door de geïnterviewde niet persé betekenen dat Holland Gold hier achter staat. Alle uitspraken zijn gedaan op persoonlijke titel door de geïnterviewde en dragen zo bij aan een breed, kleurrijk en voor de kijker interessant beeld van de onderwerpen. Zo willen en kunnen wij u een transparante bijdrage en een zo volledig mogelijk inzicht geven in de economische marktontwikkelingen. Al onze video's zijn er enkel op gericht u te informeren. De informatie en data die we presenteren kunnen verouderd zijn bij het bekijken van onze video's. Onze video's zijn geen financieel advies. U alleen kunt bepalen hoe het beste uw vermogen kunt beleggen. U draagt zelf de risico's van uw keuzes. Bekijk onze website: https://www.hollandgold.nl

This episode is sponsored by PayPal.The most valuable crypto stories for Friday, June 23, 2023."The Hash" tackles today's hottest topics in crypto, including Alameda Research seeking the return of $700 million founder Sam Bankman-Fried appears to have paid for access to celebrities and politicians. Plus, Coinbase CEO Brian Armstrong envisions the exchange's platform to becoming a global "super app" like the popular WeChat. Meanwhile, the International Monetary Fund (IMF) states banning crypto may not be the best way of mitigating the associated risks. And, the Financial Action Task Force (FATF) says most jurisdictions are not complying with global crypto laundering norms.See also:Alameda Seeks Return of $700M Paid to ‘Super Networkers' for Celebrity, Political AccessBrian Armstrong Envisions Coinbase Eventually Becoming a 'Super App'Crypto Ban May Not Be Best Approach to Balance Risk, Demand: IMFThree Quarters of Jurisdictions Not Complying With Global Crypto Laundering Norms, FATF SaysThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”From our Sponsor:PayPal provides a secure and convenient platform for converting dollars into crypto. Start exploring new web3 applications with peace of mind knowing that PayPal has your back. Buy, Sell, Hodl, Transfer, Send, and Checkout with Crypto. All with PayPal. Get started today at PayPal.com/crypto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This episode is sponsored by PayPal.The most valuable crypto stories for Friday, June 23, 2023."The Hash" tackles today's hottest topics in crypto, including Alameda Research seeking the return of $700 million founder Sam Bankman-Fried appears to have paid for access to celebrities and politicians. Plus, Coinbase CEO Brian Armstrong envisions the exchange's platform to becoming a global "super app" like the popular WeChat. Meanwhile, the International Monetary Fund (IMF) states banning crypto may not be the best way of mitigating the associated risks. And, the Financial Action Task Force (FATF) says most jurisdictions are not complying with global crypto laundering norms.See also:Alameda Seeks Return of $700M Paid to ‘Super Networkers' for Celebrity, Political AccessBrian Armstrong Envisions Coinbase Eventually Becoming a 'Super App'Crypto Ban May Not Be Best Approach to Balance Risk, Demand: IMFThree Quarters of Jurisdictions Not Complying With Global Crypto Laundering Norms, FATF SaysThis episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”From our Sponsor:PayPal provides a secure and convenient platform for converting dollars into crypto. Start exploring new web3 applications with peace of mind knowing that PayPal has your back. Buy, Sell, Hodl, Transfer, Send, and Checkout with Crypto. All with PayPal. Get started today at PayPal.com/crypto.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Everything You Need to Know About APAC Digital Asset Regulations It's becoming increasingly hard to keep up with the pace of the evolving crypto regulatory landscape in APAC.  In this episode, Ian Andrews is joined by Chengyi Ong (Head of Policy, APAC, Chainalysis) to discuss Hong Kong legalising retail crypto trading, Japan setting a high standard for crypto compliance requirements and Singapore's approach to digital asset regulation.    Chengyi also sheds some light on the biggest takeaway from the FATF forum held in Japan and provides insights on how the APAC countries can remain innovative, while complying with regulations and not wanting to take their operations abroad.  Chengyi highlights success stories in the region regarding consumer protection and market integrity and forecasts the extensive policy work that will go into regulating real world asset tokenization in ASIA and APAC.  Minute-by-minute episode breakdown (2:15) - The impact of crypto winter on the APAC region and the widespread adoption of both crypto and DeFi (9:35) - The trajectory of the Singapore cryptocurrency market and the push and pull of adopting new technology in the region  (12:45) - Why Hong Kong is making all the headlines and what is the Green Bond (16:08) - The regulatory reaction to some of the biggest crypto missteps in 2022 (20:03) - The biggest takeaways from the Financial Action Task Force (FATF) virtual asset forum and how are VASPs progressing with the Travel Rule (27:34) - What are the emerging APAC trends regarding consumer protection and market integrity  (31:45) - How do countries remain innovative and not stifle innovation and keep large VASPs from taking their business abroad (33:50) - Regulations and policy work around real world asset tokenization in ASIA and APAC Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: We are paving the way for a global economy built on blockchains Chainalysis Blog: South Korea's Ministry of Foreign Affairs Sanctions North Korea Hacking Group Kimsuky, Identifies Related Crypto Addresses Press Release: MAS proposes measures to reduce risks to consumers from cryptocurrency trading Article: Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month: Report Article: Hong Kong to be digital asset rules sandbox for China, says former city regulator Blog: Crypto Adoption Steadies in South Asia, Soars in the Southeast Chainalysis On-Demand: Chainalysis Links Amsterdam 2023 On-Demand YouTube: Chainalysis YouTube page  Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Speakers on today's episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Chengyi Ong  (Head of Policy, APAC, Chainalysis) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.     

What really happens when a country is “grey listed” by the global Financial Action Task Force (FATF)? CIPE examines this with Muazu Umaru, Director of Policy and Research at the Inter-Governmental Action Group against Money Laundering (GIABA) in West Africa. The discussion follows announcements that Nigeria is among the new adds to the FATF's “grey list” of countries with deficiencies in their structural abilities to counter money laundering and terrorism financing. CIPE's Nigeria Country Director and anti-corruption expert Lola Adekanye hosts a discussion with Umaru to analyze the ruling's impact on financial sectors and the economy, one of Africa's largest. The two also talk about recommended measures the country must take to address key issues flagged by the FATF.

Kieran talks with David Lewis, executive secretary of the Financial Action Task Force (FATF) from 2015 to 2022, about the FATF's recent plenary that gray listed South Africa and Nigeria, formally suspended Russia from membership, and criticized governments throughout the world for lax oversight of cryptocurrency businesses. Currently head of global AML at Kroll, David also weighs in on the United Kingdom's and European Union's latest AML efforts and shares his hope for greater transparency around corporate ownership drawing on his own experience as a senior official in the UK Treasury and the National Crime Agency.

The Financial Action Task Force (FATF) held a plenary last week. FATF also issued a report on Money Laundering and Terrorist Financing in the Art and Antiquities Market. John and Elliot discuss some of the outcomes from the plenary, including the suspension of the Russian Federation's FATF membership. They also look at key take-aways in the report on arts and antiquities.

South Africa's greylisting by the Financial Action Task Force (FATF) has significant implications for its economic growth and global competitiveness but steps are already being taken to satisfy the FATF that South Africa is committed to combating money laundering and terrorist financing. In this podcast, Lerato Lamola-Oguntoye, Kent Davis, and Rashaad Carrim unpack what greylisting means for South Africa and our clients. They also offer recommendations on what steps should be taken in response to recent legislative changes, and how the private and public sectors can work together to remove South Africa from the list of jurisdictions under increased monitoring as quickly as possible. Guests: Lerato Lamola-Oguntoye - consultant Webber Wentzel Financial Regulatory, Kent Davis - partner Webber Wentzel Financial Regulatory and Rashaad Carrim - partner Webber Wentzel Banking and Finance Host: Gabi Richards-Smith – partner Webber Wentzel Financial Regulatory

South Africa has been greylisted by global financial crime watchdog the Financial Action Task Force (FATF) for not fully complying with international standards around the prevention of money laundering, terrorist financing and proliferation financing. What will this mean for South African businesses and consumers? We unpack the latest developments. Investec Focus South Africa

South Africa has been greylisted by global financial crime watchdog the Financial Action Task Force (FATF) for not fully complying with international standards around the prevention of money laundering, terrorist financing and proliferation financing. What will this mean for South African businesses and consumers? We unpack the latest developments. Investec Focus South Africa

Global financial crime watchdog the  Financial Action Task Force - FATF  has added South Africa to its grey list group of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing. Being added to the grey list is a reputational knock for the country, which has been trying to address shortcomings identified by the FATF. Critics say the government left it too late to start addressing the FATF requirements. Analysts say the grey listing  means SA clients at international financial institutions will be subject to enhanced due diligence checks. It also complicates SA's attempts to access funding and support from multilateral development institutions and official lenders. We spoke to Prof. Jannie Roussouw from Wits Business School   

Guest: Rashaad Carrim – Webber Wentzel South Africa engaged with representatives of the Financial Action Task Force (FATF) in January 2023, and we will find out in the coming weeks whether South Africa will be added to the global grey list or not. Lester Kiewit speaks to Rashaad Carrim of Webber Wentzel about what it will mean to be added to the grey list and the implications.See omnystudio.com/listener for privacy information.

This episode originally aired on July 29, 2022. The Financial Action Task Force (FATF) recently issued updated Guidance for a Risk-Based Approach to the Real Estate Sector. The updated guidance focuses on the importance of member countries to bring the real estate sector into their money laundering/terrorist financing regimes. John and Elliot discuss the guidance, including the breadth of its coverage, the need for understanding and training of real estate professionals, and how the timing of the guidance intersects with FinCEN's request for information about the sector.

In this episode of the DeFi Download podcast, listen to Piers Ridyard and Justin Trollip discuss the development of the first DEX on Avalanche, Pangolin Exchange, the project's mission, and the challenges the team encountered.  Piers Ridyard interviews Justin Trollip, Chief Herder of Pangolin. Pangolin is a multichain Decentralised Exchange (DEX) in the Avalanche Multiverse and has an intriguing backstory. Pangolin currently has a volume of about $16 billion and a total liquidity of over $37 million. There are several trading opportunities where one may earn more than 116% of their investment per year. [1:31] Justin discusses how he came to hold the position of Chief Herder at Pangolin. [4:12] Pangolin had an unusual development process. What are Justin's thoughts on this process? What, in his view, were the key takeaways from this experience?[7:02] Pangolin was the first DEX to be launched on Avalanche. Following Pangolin's initial debut, several competitors emerged. How much, if at all, have the difficulties in getting things done affected Pangolin's team's early competitiveness?[9:09] Everyone in the cryptocurrency industry appreciates a good bit of gossip and people's worries that their money might not be secure motivate them to spread bad news, even if it is unverified.[11:30] What are Pangolin's long-term multichain vision and end goal? Is Justin envisioning a broader function for the DEX, or is it based on the idea that we don't need centralised institutions to accomplish these tasks, we can do it all via a smart contract, so let's just develop the best method to do that?[13:58] There is more to the NFT obsession than just the art. [16:43] Pangolin is expanding into the DeFi-As-A-Service area. [18:10] How does the Pangolin team see regulation, especially in light of upcoming initiatives like the Financial Action Task Force (FATF) and Markets in Crypto-Assets (MiCA)?[20:33] The lack of viable exchange venues for securities, especially security tokens, is one of the most intriguing future challenges that has received little attention. [28:37] The hubris of the DeFi industry is that everyone thinks we can simply forget everything from the past and reinvent everything from scratch.[31:22] According to Piers, one of the most difficult aspects of being a founder in the DeFi space is the constant involvement with the community and the community's need to have a voice in nearly everything.[34:07] How has Justin handled the psychological impact of what goes on behind the scenes of Pangolin's development? [35:31] What has Justin done to create space for himself? What words of wisdom would he impart to his younger self and anyone else contemplating joining a project or becoming involved in its formation? [37:43] Justin's tips to DeFi founders and leaders on how to manage the stress that comes with creating a new project [39:17] The value of taking breaks, trusting oneself, and having faith in your decisionsFurther resourcesWebsite: Pangolin Exchange Twitter: @pangolindexJustin's Twitter: @jtrollip Discord: discord.gg/pangolindex Telegram: t.me/pangolindexV2 

The Helen Suzman Foundation (HSF) is concerned by two pieces of legislation the government is aiming to push through as it seeks to comply with recommendations of the Financial Action Task Force (FATF) to avoid greylisting. The HSF has made submissions to Parliament's Standing Committee on Finance, taking issue with aspects of both the Anti-Money Laundering and Combating Terrorism Financing Amendment Bill, as well as the Draft Non-Profit Organisation Amendment Bill. In an interview with BizNews correspondent Michael Appel, director of the HSF, Nicole Fritz, says: "We're concerned for freedom of civil society, NPOs generally, and we would point to the fact that the FATF itself maintains that any reforms or amendments undertaken by governments should be consistent with international law obligations, and this requirement of mandatory registration is concerning in that it provides for the potential of government interference, [and] politicisation." Learn more about your ad choices. Visit megaphone.fm/adchoices

Police have now officially confirmed the identity of the West Bay man killed in a stabbing incident in West Bay on October 14th. A 42 year old man of West Bay has been arrested on suspicion of murder, in relation to the incident. A Former RCIPS Auxiliary Constable is Formally Charged with Perverting the Course of Justice Minister of Financial Services and Commerce the Honorable Andre Ebanks heads to Paris for the Financial Action Task Force (FATF) plenary. The Cayman Islands Government receives clean audit across 43 financial statements. Infrastructure and Planning Minister, the Honorable Jay Ebanks says government is working on steps to address the framework for storm water management in the islands --- Send in a voice message: https://anchor.fm/rcnews/message

A Government delegation led by the Minister of Financial Services and Commerce, the Hon. André Ebanks heads to Nicaragua to update a Financial Action Task Force (FATF) review group on improvements we've made when it comes to fighting financial crime. The Office of the Premier has released recent travel and credit card expenses for the Honorable Wayne Panton. The Ministry of Education makes an announcement affecting a number of students on Government Scholarships The first phase of the airport connector road should be completed within the next two months Recovery month activities promote dialogue on recovery --- Send in a voice message: https://anchor.fm/rcnews/message

Guest: Fin24 writer-at-large Carol Paton explains that South African Professionals and retailers must race the clock to put tighter controls in place after the UN-aligned Financial Action Task Force (FATF) warned the country two years ago that it faced being placed on its greylist. See omnystudio.com/listener for privacy information.

Greylist has black and white economic outcome. I'm pleased to see South Africa's looming potential greylisting by the Financial Action Task Force (FATF) is starting to receive the attention it deserves. National Treasury has certainly upped the ante publicly along with several respected CEOs, including Sim Tshabalala of Standard Bank and Hendrik du Toit of Ninety One. One wonders where this issue sits on the president's priority list (I suspect somewhere near the bottom) but the consequences for the country, local businesses and ordinary South Africans would be dire, increasing the cost of doing business, weakening the country's investment attractiveness and further cementing our decline towards ochlocracy. This past week the Prudential Authority (PA) released its second banking sector risk assessment. It surveyed 34 lenders active in SA, including five large banks, nine medium to small locally controlled banks, 17 foreign-controlled banks and branches of foreign banks, and three mutual banks. To talk about this Michael Avery is joined by Rebecca Thomson, Senior Associate at Allen & Overy's Litigation, Arbitration and Dispute Resolution practice and Paul O'Sullivan, founder of Paul O'Sullivan & Associates (the leading experts in Forensic & Fraud Investigation in South Africa)

The Financial Action Task Force (FATF) recently issued updated Guidance for a Risk-Based Approach to the Real Estate Sector. The updated guidance focuses on the importance of member countries to bring the real estate sector into their money laundering/terrorist financing regimes. John and Elliot discuss the guidance, including the breadth of its coverage, the need for understanding and training of real estate professionals, and how the timing of the guidance intersects with FinCEN's request for information about the sector.

The peer-to-peer system of cash outlined by Satoshi Nakamoto in his famous paper of October 2008 did not mention regulators or regulations. But its ambition of dispensing with trusted third parties did mean jettisoning regulated financial institutions. Nearly 14 years on, only the irreconcilable libertarian wing of the Blockchain industry still considers regulation of cryptocurrencies to be unthinkable. Major cryptocurrency intermediaries are getting regulated already. Two of the major cryptocurrency exchanges (Coinbase and FTX) have multiple regulatory licences and even Binance has secured a licence in France and applied for licences in Bahrain and Dubai. Likewise, of a list of 100 digital wallet custodians, 42 have secured or applied for regulatory licences. Nor is it true to say any longer that cryptocurrencies are unregulated. The Financial Action Task Force (FATF) extended Know Your Client (KYC), Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and sanctions screening obligations to the cryptocurrency markets as long ago as October 2018. Grumbling by cryptocurrency brokers and exchanges about the application of the Travel Rule – which obliges them to share identifying information about buyers and sellers of cryptocurrencies – is merely the latest instalment of this long-running set of obligations. Suspicious Activity Reports (SARs) now have to be filed. Besides, regulators are losing patience with the seemingly unending series of scams, hacks and thefts of cryptocurrency. Since hackers made off with US$500 million of Bitcoins from Mt Gox back in 2014, thefts of cryptocurrency have remained a constant. According to Chainalysis, thieves stole $3.2 billion worth of cryptocurrency in 2021 and another US$1.3 billion in the first quarter of this year, most of it from Decentralised Finance (DeFi) protocols. Chainalysis reports an average of 66 crypto-currency thefts a year since Mt Gox. But thieves are not the only people taxing retail cryptocurrency investors. Almost all the rewards of cryptocurrency trading go to professionals, including via pump-and-dump schemes. So it is not surprising that regulators are clamping down on the sale and distribution of crypto-currencies. Singapore has been particularly vocal about discouraging sales of cryptocurrencies to retail investors but the United Kingdom is now pondering similar restrictions. In emerging market economies, cryptocurrencies are used routinely to bypass capital controls or evade tax. Hosted on Acast. See acast.com/privacy for more information.

Singapore's parliament has passed an omnibus bill that will expand the powers of its primary market watchdog and introduce tighter regulation for crypto companies in the country. Passed on Tuesday, April 5th, the law is the government's latest effort to tighten its grip over the booming crypto industry. Singapore's lawmakers, however, maintain a crypto-friendly outlook and are set on continuing on a regulatory path that will make Singapore the capital of Asia's blockchain and crypto industries. Singapore's market watchdog gains more control over the crypto industry First introduced in February 2022, the Financial Markets and Services Bill was designed to bring digital token services in Singapore in line with new standards set by the Financial Action Task Force (FATF), an intergovernmental organization fighting money laundering. The legislation will require virtual asset service providers—or cryptocurrency companies—which only do business overseas to be licensed. Companies headquartered in Singapore and not servicing customers in the state weren't subject to anti-money laundering and terrorism financing laws. Alvin Tan, Singapore's state minister of trade, said this created a regulatory gap where such companies presented “reputational risks” for Singapore. He explained that overseas companies that offer crypto services in Singapore are subject to the country's laws even though they aren't physically operating in the country. And while most parliamentarians welcomed the new bill, some raised concerns that it could lead to crypto service provers being “double regulated,” or subject to different legislation in different jurisdictions. The same parliamentarians also said that the bill does little to mitigate consumer risks due to the speculative nature of cryptocurrencies. The Monetary Authority of Singapore (MAS), the country's leading market watchdog, said that it would keep a close eye on the adoption of cryptocurrencies to determine whether further user protection measures are needed. On the other hand, Tan maintains his position that laws don't offer foolproof protection against investment losses, saying that consumer education and awareness remain the best weapons for fighting that kind of risk. Nonetheless, the new bill gives MAS the power to impose harsher penalties if companies fail to maintain the security of their platforms. The bill sets the maximum penalty for a breach of security at $740,000, a significant increase from the current liabilities administered by MAS. MAS will also have the power to issue prohibition orders against individuals deemed unfit to perform critical roles, activities, and functions in the financial and crypto industries. “The financial penalty, coupled with the flexibility to impose additional supervisory actions strike a balanced approach, signals the importance of having robust technology risk management, without being overly excessive for smaller financial institutions,” Tan told The Business Times.

The Financial Action Task Force (FATF) has issued a 2nd Draft Guidance Paper for consideration and agreement to public consultation for the Real Estate Sector. This latest guidance paper will update earlier guidance issued to the sector. John and Elliot discuss some aspects of the draft, including the limited understanding of participants in the sector of money laundering and terrorist financing risks, the large role that the sector plays in many national economies, and the tie in to the Advanced Notice Proposed Rulemaking for new real estate sector reporting requirements, issued by FinCEN in December 2021.

The costs of financial crime are staggeringly high. The financial crime compliance officers that responded to a LexisNexis Risk Solutions survey of financial institutions in 26 markets around the world said they spent US$213.9 billion on compliance with financial crime regulations in 2020. If the main finding of a Refinitiv survey of 19 markets in 2018 still holds, and firms are spending 3.1 per cent of annual turnover on Know Your Client (KYC), Anti Money Laundering (AML), Countering the Financing of Terrorism (CFT) and sanctions screening measures, the expenditure is much higher than that figure suggests: US$1.28 trillion, in fact. Despite such vast expenditures, compliance breaches do occur, and regulatory fines ensue. According to the Kroll Enforcement Survey, between 2016 and the first half of 2021, financial institutions paid 338 regulatory fines for money laundering, sanctions breaches and bribery that totalled almost US$26 billion. These fines can be surprisingly chunky. HSBC paid US$1.92 billion in 2013 and ING US$900 million in 2018. Then there is the cost of the financial crime itself. This is much harder to estimate, but the Refinitiv survey put it at 3.5 per cent of the turnover of its respondents, or US$1.45 trillion. And this is the true absurdity: the cost of financial crime compliance (US$1.28 trillion) is now almost as expensive as financial crime itself (US$1.45 trillion). That is the reductio ad absurdum of half a century of regulatory pressure on money launderers, terrorists and other financial criminals. Since the United States passed the Bank Secrecy Act in 1970 to discourage money laundering through secret bank accounts, the financial services industry has assumed a steadily mounting burden of compliance obligations. The PATRIOT Act of 2021 added CFT to the AML requirements of the 1970 Act – and, fatefully, for the first time obliged financial institutions to implement a Customer Identification Program (CIP) to verify the identity of individuals that wish to conduct financial transactions with them. These originally American measures have over the last decade become universal. They are now embodied in the International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation, first published by the Financial Action Task Force (FATF) in 2012 and updated regularly ever since. More than 200 jurisdictions endorse them now. The European Union (EU) is on the sixth iteration of its Anti Money Laundering Directive (AMLD VI). Yet the chief characteristic of all these legislative and regulatory measures is that they do not work. Financial crime continues to increase. Mounting quantities of people and technology may have slowed its rate of increase but they have manifestly failed to solve the problem. Indeed, the growing volume of e-commerce, crypto-currency and digital assets business, spurred on by the Pandemic, is once more increasing the rate of increase of financial crime. Meanwhile, compliance is not only despised by the revenue generators. It has lost sight completely of its original objective of reducing crime and become an end in itself: a meaningless set of routines designed to avoid fines and reputational damage for non-compliance, by gold-plating processes, over-reporting data and tolerating embarrassingly high proportions of false positives. In short, all that 50 years of increasingly onerous legislative and regulatory measures have achieved is increased costs for financial institutions. Hosted on Acast. See acast.com/privacy for more information.

In this episode we look at the criminal involvement in the plastic waste industry. The lucrative global market in plastic waste is expected to be reach over $50 billion US Dollars by 2022. From Mafia groups to poly-crime networks, the temptation for organised criminal groups and bad actors to get a slice of this market is too hard to resist - and so corners are cut, laws are ignored, and irreversible damage is done. Alongside this, some waste management companies are used as Fronts to conceal other illicit activities like human trafficking, drug trafficking, prostitution, and various financial crimes like money laundering, tax evasion, mis-invoicing. Paper: https://globalinitiative.net/analysis/illicit-trade-plastic-waste/ (Plastic for Profit: Tracing illicit plastic waste flows, supply chains and actors) Speakers https://twitter.com/VirginiaComolli (Virginia Comolli), Research Manager, https://globalinitiative.net/profile/virginia-comolli/ (Global Initiative Against Transnational Organized Crime) https://twitter.com/ismawati64 (Yuyun Ismawati), Special Advisor at the https://twitter.com/FokusNexus3 (Nexus3 Foundation ) https://www.linkedin.com/in/willie-wilson-a9665a51/ (Willie Wilson), Vice Chair and Private Sector Engagement Lead, https://www.interpol.int/en/Crimes/Environmental-crime/Pollution-crime (INTERPOL Pollution Crime Working Group) https://twitter.com/Sedat_Gundogdu1?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor (Sedat Gündoğdu), Marine Biologist at https://www.cu.edu.tr/ (Cukurova University) in Turkey Reading https://globalinitiative.net/analysis/illicit-trade-plastic-waste/ (Plastic for Profit: Tracing illicit plastic waste flows, supply chains and actors), Global Initiative Against Transnational Organized Crime (GITOC) https://www.fatf-gafi.org/publications/environmentalcrime/documents/money-laundering-from-environmental-crime.html?hf=10&b=0&s=desc(fatf_releasedate) (Money Laundering from Environmental Crime), Financial Action Task Force (FATF) https://www.interpol.int/en/News-and-Events/News/2020/INTERPOL-report-alerts-to-sharp-rise-in-plastic-waste-crime (INTERPOL report alerts to sharp rise in plastic waste crime), INTERPOL https://16edd8c0-c66a-4b78-9ac3-e25b63f72d0f.filesusr.com/ugd/13eb5b_61a1f065f1024bd0b62478f83229a209.pdf (Plastic Waste Management and Burden in Indonesia), https://www.nexus3foundation.org/ (Nexus3 Foundation) https://16edd8c0-c66a-4b78-9ac3-e25b63f72d0f.filesusr.com/ugd/13eb5b_907439e852d14544824343170a823ad4.pdf (Global Shell Game: Fate of re-exports of seized illegal imports of waste from the USA to Indonesia), Nexus3 Foundation https://www.bbc.co.uk/news/av/uk-53181948 (Why is UK recycling being dumped by Turkish roadsides?), BBC News https://www.gov.uk/government/news/biffa-fined-15-million-for-reckless-export-breach#:~:text=Household%20waste%20left%20unsorted%20in%20second%20conviction.&text=Biffa%20Waste%20Services%20Ltd%20has,be%20exported%20to%20developing%20countries. (Biffa fined £1.5 million for 'reckless' export breach), gov.uk https://www.theguardian.com/environment/2021/jul/30/uk-waste-firm-fined-15m-for-exporting-household-waste (UK waste firm fined £1.5m for exporting household waste), The Guardian https://www.theguardian.com/law/2021/jan/14/three-victims-of-trafficking-and-modern-slavery-to-sue-biffa (Three victims of trafficking and modern slavery to sue Biffa: The claimants were moved from Poland to the UK and placed in work with waste firm), The Guardian

Financial crime compliance has grown from small beginnings in the Bank Secrecy Act passed by the Nixon Administration in 1970 to combat money laundering. The PATRIOT Act of 2001 added countering the financing of terrorism (CFT) to anti-money laundering (AML). But it is the universalisation of these American precedents through the International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation of the Financial Action Task Force (FATF), first promulgated in 2012, which have turned customer due diligence into the one area of the financial services industry that is growing everywhere. Estimates of its cost run into hundreds of billions of dollars, even without taking into account the fines levied on regulators by the non-compliant or the insufficiently vigilant. One company which has prospered from helping financial institutions battle financial crime is NICE Actimize. Dominic Hobson, co-founder of Future of Finance, spoke to Stephen Taylor, General Manager, Anti-Money Laundering, at NICE Actimize, about how financial institutions manage the problem, how the problem is mutating, which business areas face the gravest threats and how techniques to combat financial crime are evolving. Hosted on Acast. See acast.com/privacy for more information.

On October 28, 2021, the Financial Action Task Force (FATF) released its Updated Guidance For A Risk Based Approach For Virtual Assets and Virtual Asset Providers (guidance or final guidance). The guidance hit on some of the hottest topics in crypto including DeFi, NFTs, unhosted wallets, stablecoins and the travel rule. Here are some takeaways: When it comes to DeFi, you need to use the functional owner/operator test. FATF is less concerned over the use of the term decentralized to describe your business, but rather is focused on whether or not a project is actually decentralized. Just because something is automated does not mean it is decentralized. NFTs are not virtual assets if they are tickets or momentos of an event without a secondary market, but if they transfer value, and/or live and move on a trading platform, they could be virtual assets. VASPs and their regulators may allow for a staged approach when it comes to travel rule implementation, but that staged approach must result in earlier implementation than otherwise would have been the case. Stablecoin issuers and governance bodies could be VASPs and need to build risk-based compliance in order to mitigate risks that may come with mass adoption. Next up for FATF? Working with regulators around the globe on implementation of the standards. Check out TRM's full coverage of FATF's guidance here: https://www.trmlabs.com/post/fatf- provides-final-guidance Joining TRM Talks to discuss the guidance and get clarification on key issues are the chairs of FATF's Virtual Assets Contact Group (VACG), Habuchi Takahide of Japan's Financial Services Agency and Jon Fishman of the U.S. Treasury. This podcast is hosted by TRM Labs, a blockchain analytics company. We work with crypto businesses, financial institutions and government agencies to monitor, detect and investigate fraud and financial crime in crypto. Learn more about how we're building a safer financial system for billions of people here: https://www.trmlabs.com/about

Originally published 10 September 2021. In June 2020, the Financial Action Task Force (FATF) urged countries to increase the use of financial investigations into illegal wildlife trade cases. A year on, in July 2021, it published a further analysis on mineral, waste and timber trafficking. In advance of the FATF's upcoming October plenary, Tom Keatinge and Alexandria Reid take a deep dive into the thornier aspects of the FATF's current approach to environmental crime.

In June 2020, the Financial Action Task Force (FATF) urged countries to increase the use of financial investigations into illegal wildlife trade cases. A year on, in July 2021, it published a further analysis on mineral, waste and timber trafficking. In advance of the FATF's upcoming October plenary, Tom Keatinge and Alexandria Reid take a deep dive into the thornier aspects of the FATF's current approach to environmental crime.

The Financial Action Task Force (FATF) has committed to promoting financial inclusion via the proportionate implementation of its standards. Yet, approximately 1.7 billion people globally have no access to a bank or mobile money account. Clearly, there is more work to be done. CFCS's Isabella Chase joins Alanna Putze to discuss the impact of FATF on digital financial inclusion and the steps that it can take to promote broader access to finance, while maintaining global financial crime controls.

Welcome to episode 74 of The Bitcoin Game, sponsored by eToro. The Bitcoin Game has been a featured podcast on the LTB Network since 2014! A few facts about David Jevans: In the late '90s, David attended monthly Cypherpunk meetups in Palo Alto. David hired Nick Szabo to help with IronKey (David's previous business, a secure USB product). And David is currently the founder and CEO of CipherTrace, one of the big three "blockchain analysis" companies. David's past and present positions give him a uniquely informed perspective, and I was fascinated to hear his takes. We discuss a wide range of topics, from details about CipherTrace's work, to hardware wallets, supply-chain security, CryptoCapital, Quadriga, BTC-E, CoinJoin, OPSEC, and tons more. EPISODE LINKS CipherTrace https://ciphertrace.com David on Twitter https://twitter.com/davejevans Cypherpunk https://en.wikipedia.org/wiki/Cypherpunk Nick Szabo https://en.wikipedia.org/wiki/Nick_Szabo IronKey https://en.wikipedia.org/wiki/IronKey ECC (Elliptic Curve Cryptography) https://en.wikipedia.org/wiki/Elliptic-curve_cryptography 2000 Financial Cryptography Conference https://ifca.ai/fc00/program.html David Chaum https://en.wikipedia.org/wiki/David_Chaum DigiCash https://en.wikipedia.org/wiki/DigiCash Mt. Gox https://en.wikipedia.org/wiki/Mt._Gox CoinJoin https://en.bitcoin.it/wiki/CoinJoin Wasabi Wallet https://wasabiwallet.io OPSEC https://en.wikipedia.org/wiki/Operations_security Financial Action Task Force (FATF)'s "Travel Rule" https://ciphertrace.com/fatf-crypto-travel-rule THE BITCOIN GAME IS SPONSORED BY Are you interested in getting into the cryptocurrency markets but don't know where to start building your portfolio? eToro has the answer for you. It's called CopyTrader. With CopyTrader, you can automatically copy every trade of eToro's top crypto traders at the exact price in real time. No need to study up on markets or develop your own strategies. Simply sign up and copy the trader of your choice. Any profits they make, you do too (proportional to your investment). With eToro, you get access to the world's most popular cryptocurrencies, with transparent trading fees, all in one easy-to-use app. Join now at b.tc/etorogame. While much of a Bitcoiner's time is spent in the world of digital assets, sometimes it's nice to own a physical representation of the virtual things you care about. For just the price of a cup of coffee or two (at Starbucks), you can own the world-famous Bitcoin Keychain. As Seen On The Guardian • TechCrunch • Engadget • Ars Technica • Popular Mechanics Infowars • Maxim • Inc. • Vice • RT • Bitcoin Magazine • VentureBeat PRI • CoinDesk • Washington Post • Forbes • Fast Company Bitcoin Keychains - BTCKeychain.com CREDITS All music in this episode was created by me, or is from a jam with me, Mike Coleman and Steve Lunn. The Bitcoin Game box art was created from an illustration by Rock Barcellos. Lightning Network tips: https://tippin.me/@TheBTCGame Note: We migrated our RSS feed (and primary content host) to Libsyn; SoundCloud is just a legacy feed.

The RundownThe 18 Millionth BitcoinThe countdown begins to the 18 millionth Bitcoin (BTC) that was expected to be mined early Friday morning.The most popular cryptocurrency currently has 18,000,137.5 Bitcoin in existence. At a rate of 1,800 BTC mined daily.After this, there are just three million left to be mined from a total of 21 million Bitcoin. Notably, it is said that about 14 to 19 percent of BTC is gone or lost forever. There are also stolen coins, and some hundred thousand stashed away by Satoshi Nakamoto, the pseudonymous person believed to have created Bitcoin.Bitcoin HalvingIn May 2020, the scheduled "Bitcoin halving" will take place wherein the reward for Bitcoin miners for solving a block that connects transactions will be down to 6.25 from 12.5 Bitcoins.  Then, there will be about 376,562.5 left to mine when the next halving occurs, which is due every four years. The code in BTC is designed in such a way that limits the production of the cryptocurrency homologizing it to gold, which opposes how the fiat money is easily printed.5 Good MinutesFATF Joins BIS in Calling Stablecoins “Global Risk”Stablecoins pose a money laundering and terrorist financing risk to the world, the Financial Action Task Force (FATF) said Friday.In documents released after its latest meeting, the intergovernmental organization referred to cryptocurrencies as a “major strategic initiative,” and said cryptos whose values are pegged to fiat currencies could have a particularly big impact.Some 800 representatives from 205 jurisdictions met from Oct. 16 to Oct. 18 to discuss various issues under the jurisdiction of FATF, led this year by Xiangmin Liu of China, according to the publication. Crypto-related concerns were front and center.While the document addressed cryptocurrencies broadly, it singled out stablecoins on multiple occasions, writing:“Emerging assets such as so-called global ‘stablecoins', and their proposed global networks and platforms, could potentially cause a shift in the virtual asset ecosystem and have implications for the money laundering and terrorist financing risks. There are two concerns: mass-market adoption of virtual assets and person-to-person transfers, without the need for a regulated intermediary. Together these changes could have serious consequences for our ability to detect and prevent money laundering and terrorist financing.”A second document, titled “Money laundering risks from ‘stablecoins' and other emerging assets,” said the FATF will continue to examine the characteristics and perceived risks of stablecoins and may even clarify or update its virtual currency guidance to better address this class of cryptocurrency.“The FATF will continue to ensure its standards remain relevant and responsive and it will report to G20 Finance Ministers and Central Bank Governors in 2020 on the risks from global ‘stablecoins' and other emerging assets,” the second document read.The FATF's warning followed a report from the Group of Seven (G7) advanced economies and the and Bank of International Settlements (BIS) calling stablecoins a growing threat to monetary policy, financial stability and competition.The Hard TruthCircle to Spin Out PoloniexCrypto exchange Poloniex is spinning out from its parent firm Circle, the companies announced Friday.According to a pair of blog posts, Poloniex will now become Polo Digital Assets, Ltd., an “independent international company” backed by an unnamed Asian investment firm. The trading platform will not serve U.S. customers after this year.In Friday's blog post, Circle co-founders Jeremy Allaire and Sean Neville wrote:“It is bittersweet for Circle to see this incredible product and business spin out on its own … We've made enormous progress with Poloniex, including massive infrastructure improvements, adding more fiat options with USDC integration, launching best in class native apps for traders, and building global operations capabilities that can deliver excellent customer service.”