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MiCA – A new framework for crypto providers
The Market in Crypto Assets (MiCA) is a regulation that all EU member states must implement. The regulation will serve as a framework of rules
Source of funds and source of wealth – an important element of EDD
In high-risk situations, financial institutions and other “obliged entities” are required to conduct Enhanced Due Diligence (EDD) measures to ensure that the money laundering and
The Transparency International Corruption Perceptions Index (CPI) 2022
🔎The Transparency International Corruption Perceptions Index (CPI) 2022 🔍 The Corruption Perception Index highlights the “perceived levels of public corruption”. The CPI ranks 180 countries
Stablecoins and MiCA
Stablecoins are cryptocurrencies whose value is tied (“pegged”) to another asset. This asset can be a fiat currency, a commodity, another cryptocurrency, or a financial
Who is the beneficial owner?
Beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being
Synthetic identity fraud – what it is and what are the indicators
Georgia man was sentenced to over 7½ years in prison for synthetic identities scheme that defrauded banks out of nearly $2 million. The man and
Blockchain – a money laundering haven?
Blockchain is a digital, public ledger that is distributed across its users. It collects and stores information in “blocks.” When a “block” is full, it
Lessons learned from Danske Bank’s $2 billion penalty
Danske bank is a global financial institution headquartered in Denmark. Danske Bank A/S agreed to forfeit $2 billion to resolve the United States’ investigation into
Traditional Vasilopita Cutting Event at iSPIRAL
The cutting of the Vasilopita cake is a time-honored tradition of the Greek and Cypriot families and takes place on New Year’s Day to bless
