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)

tinyurl.com/y5urksoj
Info en 🇫🇷: tinyurl.com/y69c2dey

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. tinyurl.com/y25smkeu

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 👇: forbes.com/sites/caitlinl… @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.
👉 fsb.org/2019/04/fsb-pu…

👉 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

Thread👇
bloomberg.com/amp/news/artic…
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: financialservices.house.gov/calendar/event…
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! hudson.org/events/1664-am…
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 electroneum.com & awesome video in multiple languages & you can contact our @CeeGeeOBE here or at #LinkedIn or at #MWC19 in Barcelona: medium.com/@msystemelec/e…
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 -> europa.eu/rapid/press-re… (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 -> ec.europa.eu/commission/com… 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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