Discover and read the best of Twitter Threads about #AML

Most recents (8)

#SimonGautier, français en vacances en #Italie, appelle le 112. « Je suis tombé d'une falaise, j'ai les 2 jambes cassées, aidez-moi... je ne sais pas où je suis.» 5 jours plus tard, il reste introuvable.

Une telle histoire ne devrait pas arriver. (1/11)
Info en 🇫🇷:

Récemment, on a vu dans la presse plusieurs cas similaires où la localisation de personnes en détresse se révélait problématique... en #Roumanie, en #Espagne ou en #France par exemple.

Néanmoins, ce n’est pas un problème nouveau. (2/11)
En 2009, les services de secours avaient déjà été incapables de retrouver un randonneur perdu dans les Alpes bien qu’il soit resté au téléphone avec eux de longues minutes.

Des drames tels que ceux-ci vont continuer à arriver, à moins que les... (3/11)
Read 11 tweets
1/ The Senate Banking Comm staff reached out last week regarding @Facebook @Libra pursuant to my @ForbesCrypto article. During a conf call they indicated interest in receiving formal testimony from me. Here it is + summary follows 👇:… @DoWithCare
2/ Big takeaway--politicians that weaponize the US banking system (blocking access to disfavored industries/countries) are modern-day Herbert Hoovers bc these barriers block both unlawful & LAWFUL commerce, & these barriers caused the invention of #stablecoins in the first place.
3/ (OK, I didn't actually call them modern-day Herbert Hoovers the testimony, but I digress...) If Congress isn't happy about @facebook @Libra, it can immediately make #stablecoins irrelevant by letting #banks bank the #crypto industry (& I give v specific recommendations here:
Read 19 tweets
The Financial Stability Board (FSB) published a #Crypto-assets #regulators directory.
5 April 2019
The purpose: provide info on the relevant regulators&authorities in FSB #jurisdictions & international bodies dealing with crypto-asset issues, and the aspects they cover.

👉 Crypto-assets do not pose a material risk to global financial stability for now.
👉Vigilant monitoring is needed in light of the speed of market developments.
👉Broader policy issues:
1.#Consumer & #investor protection
2.Strong #market integrity #protocols
3. #AML & financing of terrorism (AML/CFT): #regulation, #supervision, implementation of international sanctions
4.#Tax evasion
5.Illegal #securities offerings #ICO
Read 6 tweets
Stung by Big Fines, Big Banks Beef Up Money-Laundering Controls
By Yalman Onaran (Bloomberg)

The tech-race:
☝️New tech allow regulators better AML detection but then forces banks to use even better tech to detect before the regulators

Measures by HSBC
HR👉 HSBC quintupled the number of AML employees to 5,000 (2012-2016)
Tech👉upgraded its #Fintech #technology (#MachineLearning scanning transaction data)
Lobby&learn👉in 2016, hired Jennifer Calvery, the U.S. Treas.Dpt’s top #AML official who fined HSBC in 2012.
👉9 big banks paid a total of $20 billion (2012-2015) for lax AML controls
👉 clients evade taxes or violate U.S. sanctions
👉most of the settlements came with deferred-prosecution agreements and outside monitors
Read 7 tweets
At 2PM today, the House Financial Services Committee will begin discussing legislation to end anonymous US companies, strengthen the Bank Secrecy Act #AML regime, and reward whistleblowers in transnational kleptocracy cases.

Read more/watch live here:…
Tomorrow @HudsonInstitute, join @FranklinFoer @elisejosanbean and KI to discuss the US economy’s systemic vulnerability to dirty money from authoritarian regimes. Why it’s poisoning capitalism, and how upcoming legislation could help turn the tide!…
HFSC witness Dennis Lormel, a former FBI agent, highlights the ubiquity of anonymous shell companies in transnational kleptocracy cases.
Read 10 tweets
1 In #crypto space you need to ADAPT or you will DIE. #Regulation is reality -no #Government want to love when you didnt use the national #currency. So #electroneum #ETN $ETN adapt & we are 1st full #KYC #AML compliant #cryptocurrency Join us too download #ios app #MWC19 #mwc2019
2 And we did an awesome progress for just 15 months over 2,8 millions accounts created, #cloudminer live a lot of #plugins for #vendors created for easy integration. We have in plans be the number 1 for cheap & fast transfers money worldwide, We have in plan too create #gigguru
3 without commision so the #freelancer can obtain 100% income & much more just have a look at our brand new WEB & awesome video in multiple languages & you can contact our @CeeGeeOBE here or at #LinkedIn or at #MWC19 in Barcelona:…
Read 4 tweets
.@maltatoday seems to be finding some of its stories right off a @PL_Malta propagandist’s Facebook page.

Quite sad really to boast that, after its bludgeoning for lack of #AML enforcement, #Malta wasn’t incl in @EU_Commission’s latest round re: AMLD4 transposition 1/
The source “warnings notice” by @EU_Commission ->… (scroll down)

It also ignores that #Malta also (besides reasoned opinions & warnings from EC & ECB etc on wider matters) got the same AMLD4 transposition warning in July 18 ->… 2/
But hey if you’re desperate for “positive” news why let reality or journalistic honesty dampen your agenda, right? 3/
Read 4 tweets
OK, now I stop the jokes and get serious on #SOTEU and #JHA (opens thread). @JunckerEU: "We are proposing to extend the tasks of the newly established European Public Prosecutor’s Office to include the fight against #terrorist offences."
I'm still sceptic about the original role of the #EPPO (financial offences to #EU money) and how that is going to pan out in the future (more on this soon, part of the @CER_EU's upcoming work on #JHA). I'm even more sceptic about proposals to use it for #AML. But terrorism?
This has been an old aspiration of federalists and others: some sort of a central EU criminal prosecutor (and criminal code, for what matters) to deal with cross-border crime. But that is absolutely unfeasible right now. See the latest difficulties in judicial co-operation.
Read 5 tweets

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