AML Compliance for Gambling Operators The gambling industry, encompassing both traditional casinos and online platforms, is inherently susceptible to money laundering activities due to the substantial cash flows and the potential for anonymity. To combat these risks, gambling operators must implement robust Anti-Money Laundering (AML) compliance programs that adhere to regulatory standards and [...]

What is the Single Euro Payments Area (SEPA)? The Single Euro Payments Area (SEPA) is a payment integration initiative by the European Union (EU) designed to simplify and streamline electronic euro transfers across participating countries. Established in 2008, SEPA allows businesses, individuals, and public administrations to send and receive payments in euros under [...]

What is Geographic Targeting Order (GTO)? GTOs are issued by FinCEN, a bureau of the U.S. Department of the Treasury. GTOs impose heightened recordkeeping and reporting requirements upon certain financial institutions or nonfinancial trades or businesses in targeted geographic areas. The primary aim of the GTO is to facilitate law enforcement in combating [...]

The Role of AML in Combating Human Trafficking ​In recent years, the convergence of cryptocurrency and human trafficking has emerged as a pressing concern for fintech and compliance professionals. Traffickers are increasingly leveraging digital currencies to obscure financial trails, necessitating robust Anti-Money Laundering (AML) measures to combat these illicit activities.​ The Intersection of [...]

What is the Autorite Monégasque de Sécurité Financière (AMSF)? The Autorite Monégasque de Sécurité Financière (AMSF) is key to maintaining transparency in Monaco’s financial sector. As part of the Principality’s regulatory framework, it ensures compliance with international standards. We will explore its background, responsibilities, and the institutions it supervises. By grasping its function, [...]