By Arun Koyyur Cryptocurrency exchange Binance has suspended deposits and withdrawals on its platform due to technical issues affecting its spot trading, Chief Executive Changpeng Zhao said in a tweet on Friday. “Initial analysis indicates matching engine encountered a bug on a trailing stop order,” he said in a tweet, adding that the pause in deposits and withdrawals was a standard operating procedure. This content is for members only. Visit the site and log in/register to read. The post Binance halts deposits, withdrawals after technical glitches appeared first on AML Intelligence ..read more

CREDIT Suisse and UBS banks are at the centre of a US Justice Department investigation into whether financial professionals helped Russian oligarchs evade sanctions, it’s been reported. The probe is focused on identifying which bank employees dealt with sanctioned clients and how those clients were vetted. Those bankers and advisers may then be subject to… This content is for members only. Visit the site and log in/register to read. The post NEWS: Credit Suisse, UBS being probed over whether banks aided Russian oligarchs evade sanctions appeared first on AML Intelligence ..read more

EUROGROUP President Paschal Donohoe is to deliver the opening address at the ‘European Anti-Financial Crime Summit’ in Dublin on May 25 next. Mr Donohoe – who is Ireland’s Minister for Public Expenditure – was re-elected Eurogroup President earlier this year. The Eurogroup is the influential college of EU finance ministers from eurozone countries. “I am looking forward to delivering the opening address at the ‘European Anti-Financial Crime Summit’ in May and also to hearing about the major issues in this whole area from the attendees and speakers,” Mr Donohoe said. One of the headline speakers ..read more

MONEYVAL’s executive secretary Igor Nebyvaev has moved to a new position in the Council of Europe, it’s been revealed. It follows claims in a German tabloid around his father’s alleged connections with Russian intelligence. FATF’s decision to suspend Russia’s membership of the agency also made it harded for a Russian to hold down the MONEYVAL… This content is for members only. Visit the site and log in/register to read. The post NEWS: MONEYVAL’s Nebyvaev switches roles in Council of Europe; Livia Stoica-Becht becomes new Executive Secretary appeared first on AML Intelligence ..read more

A TOP MEP has warned that Ireland’s non-membership of the European Public Prosecutors Office makes the country vulnerable to organised crime. Billy Kelleher has said that Irish police (An Garda Siochana) and other state agencies need to be alert to the possibility of European crime gangs moving their operations to Ireland because the country hasn’t signed up to the European Public Prosecutor’s Office (EPPO) system. Kelleher was commenting after the EPPO’s Chief Prosecutor delivered remarks at a joint meeting of the European Parliament’s Justice and Budget committees this morning in Brussels ..read more

BRITAIN’S Gambling Commission today fined 32Red and Platinum Gaming with a €7.1M fine for AML and other failings. The Commission said the penalty on the online operators owned by Kindred Group Plc was also to includes social responsibility failures. “These failures highlight clearly that both operators failed to interact with customers in a way which minimises the risk of them experiencing harms associated with gambling,” said Kay Roberts, executive director of the Gambling Commission. The regulator said financial triggers for anti-money laundering reviews at 32Red were too high and not approp ..read more

By Luc Cohen Manhattan has started and stopped its investigation into Donald Trump’s hush-money payments to porn star Stormy Daniels so many times that it has come to be known as a “zombie case” like the mythical character who returns from the dead. A grand jury of New Yorkers is expected to decide within days whether to bring charges against the former president for his role in a $130,000 payment his former lawyer Michael Cohen made in the run-up to the 2016 presidential election. This content is for members only. Visit the site and log in/register to read. The post Trump hush-money charges w ..read more

By ALISHA HOULIHAN for AML Intelligence SOME of the top names in world AML and Compliance are to speak at the forthcoming ‘European Anti-Financial Crime Summit’ in Dublin on May 25 next. One of the headline speakers is Dr Marcus Pleyer, former president of the Financial Action Task Force (FATF) and one of Europe’s leading AFC voices. Dr Pleyer is Deputy Director General at the German Federal Ministry of Finance (Bundesfinanzministerium). Other leading figures set to address the summer AFC summit, which is being held in-person, are: Karyn Kenny, AML Prosecutor, US Department of Justice; AML in ..read more

By Alisha Houlihan for AMLi Europe’s top prosecutor, Laura Kovesi has mooted the creation of an elite team of highly skilled investigators of financial crime and fraud. Ms Kovesi’s demand appeared in the annual report published by the European Public Prosecutor’s Office (EPPO), on Wednesday, March 1. This content is for members only. Visit the site and log in/register to read. The post NEWS: EU’s top prosecutor calls for specialised fincrime investigations team appeared first on AML Intelligence ..read more

European Commission Vice President Věra Jourová the risk that machines mimic or even worsen human prejudice and racism must be taken seriously. “We have some immediate challenges” when it comes to AI, Ms Jourová said. The Values and Transaparency Commisioner said AI “can perpetuate or even stimulate racial bias if data to train algorithms does… This content is for members only. Visit the site and log in/register to read. The post NEWS: Risk that AI can mimic or even worsen human prejudice, warns European Commissioner appeared first on AML Intelligence ..read more