Technology Solutions

Quick Scan To Identify Customer & Third-Party Risk

Dragnet Alpha

Intelligent Online Content Monitoring SaaS Platform for Enterprises

AML Penalties

The Most Extensive AML Data Platform, for Professionals, Organizations & Regulators

Data Asset Builder

Most Advanced PEP Data Asset focused machine learning and automation platform for large teams

Eu Crypto Assets Transfers Traceability

Published Date:

The EU has taken measures to enhance the difficulty for criminals to exploit cryptocurrencies for money laundering purposes. The Council has approved updated rules that expand the scope of information requirements for fund transfers to include transfers of crypto assets. This move ensures financial transparency within crypto exchanges, aligns the EU with rigorous international standards for crypto asset exchange, and safeguards against criminal activities. Under the new regulations, crypto asset service providers are obligated to collect and provide certain information about the senders and beneficiaries of crypto asset transfers, irrespective of the transaction amount. This facilitates the traceability of crypto asset transfers, aiding in the identification and prevention of potential suspicious transactions. The adoption of these rules is part of a comprehensive legislative proposal aiming to bolster the EU’s anti-money laundering and counter-terrorism financing framework, which also includes the establishment of a new EU authority dedicated to combating money laundering