The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    216.73.216.111

    Governor Bank of France to Propose Licencing for Crypto Firms

    Governor Bank of France Proposes Licencing for Crypto Firms

    François Villeroy de Galhau, the Governor Bank of France, has passed more stringent regulatory provisions for cryptocurrency businesses in the context of the industry’s volatility.

    The governor proposed that the existing enrollment of cryptocurrency companies should be replaced by a licence. He also highlighted that the country should act before the approaching EU rules come into effect. The governor also made French government licensing mandatory for DASPs (Digital Asset Service Providers). 

    Autorité des Marchés Financiers (AMF), The French financial markets authority, has enlisted about 60 organizations that are interested in crypto dealings, including Binance. 

    In the context of everything that has occurred in the cryptocurrency industry in 2022, François Villeroy de Galhau instructed the authorities to proceed fast on making DASP licencing mandatory.

    As far as business conduct, available financial resources, and organisations are concerned, the digital asset service providers looking for a licence are expected to comply with certain standards.

    The proposal also comes with new EU legislation for MiCA (Crypto Asset Market) achieved consensus on a set of AML laws in the sector. In October 2022, the EU agreed on the legal text for licenced crypto businesses by passing landmark markets in MiCA.

    The European Council and Parliament agreed on a provisional agreement on MiCA, making the first and most comprehensive EU stance on crypto assets, in June 2022. 

    The action came a day after the ESMA (European Securities and Markets Authority) completed the measures for decreasing money laundering in crypto dealings. 

    The Banque de France and Banque Centrale du Luxembourg also worked in the alliance back in December 2022 on an exploratory CBDC (Central Bank Digital Currency) initiative.

    EIB (Europen Investment Bank) was aided by two central banks in the Venus initiative allowing the use of experimental CBDC for a EUR 100 million bond.

    Other than the Bank of France and Luxembourg, the Venus program also implicated Goldman Sachs, Societe Generale, and Santander. The EID specified all the mentioned banks to be in charge of issuing and distributing the digital native bonds.

    Suggested Read:

    France to Consider Amendment Obliging Crypto Firms to Obtain Licenses
    France Ranked Among Countries with Effective Measures to Tackle Financial Fraud

    Related Posts

    News

    Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities

    A gang of a Chinese national and 20 other people got arrested by Chandigarh Police. Investigation...

    Chandigarh Cyber Cell Unit Arrested Criminals Involved in Overseas Money Laundering Activities Explore More

    News

    Singapore Government Discloses Modified Regulatory Measures for Stablecoins

    Singapore’s Central Bank has disclosed upgraded regulatory guidelines for stablecoins to keep cry...

    Singapore Government Discloses Modified Regulatory Measures for Stablecoins Explore More

    News

    Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme

    According to Federal prosecutors, a money-laundering scheme has been successful in funneling $11 ...

    Arizona Bank Used to Funnel 11 Million USD in a Money Laundering Scheme Explore More

    News

    FCA Alerts Crypto Firms to prepare for Advertising Rule Change

    The UK Financial Watchdog has alerted all Crypto firms to be prepared for advertising rule change...

    FCA Alerts Crypto Firms to prepare for Advertising Rule Change Explore More

    News

    Singapore Proposes Additional AML/CFT Requirements for FIs

    Monetary Authority Singapore has issued a consultation paper proposing the scope of AML/CFT to be...

    Singapore Proposes Additional AML/CFT Requirements for FIs Explore More

    News

    Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report

    The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar ...

    Falklands and Gibraltar Still on Spanish ‘Tax Haven’ List, Says Report Explore More

    News

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List

    The Financial Action Task Force (FATF) started cracking down on Sri Lanka’s financial institutes ...

    Sri Lankan Regulatory Authorities Enforce AML/CFT Measures to Avoid FATF Grey and Black List Explore More

    News

    CBN Adds Cameroon, Croatia, Korea, and Vietnam to Money Laundering Watchlist

    A circular issued to Deposit Money Banks (DMBs) states the Central Bank of Nigeria has added Came...

    CBN Adds Cameroon, Croatia, Korea, and Vietnam to Money Laundering Watchlist Explore More

    News

    U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism

    U.S Congress subcommittee worries that Bitcoin might have been used in funding the Capitol revolt...

    U.S Congress Suspects the Use of Bitcoin to Fund Domestic Terrorism Explore More

    News

    Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally

    Central Bank in Kyrgyzstan has given out recommendations for regulating the crypto industry and g...

    Kyrgyzstan to Regulate Cryptocurrency for it be Recognized Legally Explore More

    News

    FIAU Imposed a Fine of €130,000 on Olimp Limited for AML Failures

    Olimp Limited has dropped its gaming license since FIAU imposed €130,000 fine on the company for ...

    FIAU Imposed a Fine of €130,000 on Olimp Limited for AML Failures Explore More

    News

    Digital IDs Becoming Useful for Fighting Financial Crimes

    The use of digital IDs has proved to be advantageous for fighting financial crimes. Research has ...

    Digital IDs Becoming Useful for Fighting Financial Crimes Explore More

    News

    Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings

    The Dutch Central Bank (DeNederlandscheBank) has charged Coinbase for having ineffective anti-mon...

    Dutch Central Bank Strikes Coinbase with €3.3 Million Fine over Anti-Money Laundering Failings Explore More

    News

    AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures

    AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...

    AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures Explore More

    News

    PayPal Announces Suspension of UK Crypto Purchases from October

    PayPal announced a temporary ban on UK cryptocurrency purchases, demonstrating their swift compli...

    PayPal Announces Suspension of UK Crypto Purchases from October Explore More

    News

    WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law

    Ireland’s Data Protection Commission has stated that WhatsApp failed to inform EU citizens suffic...

    WhatsApp Receives Fine Worth $267m for Breaching EU’s Data Privacy Law Explore More

    News

    Brazil’s financial regulator launches regulatory blockchain

    The Banco Central do Brasil (BC) recently declared the launching of a new blockchain platform cal...

    Brazil’s financial regulator launches regulatory blockchain Explore More

    News

    The Bicycle Hotel & Casino Fined $500K For Violating AML Laws

    The Bicycle Hotel and Casino will be paying $500K in fine as it failed to report Currency Transac...

    The Bicycle Hotel & Casino Fined $500K For Violating AML Laws Explore More

    News

    FATF Examines Technology use in Making AML/CFT More Effective

    FATF has recognized the importance of combining human input and manual review with automation for...

    FATF Examines Technology use in Making AML/CFT More Effective Explore More

    News

    Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”

    The consultation will facilitate the Trusted Digital Identity Bill, making digital identity syste...

    Australia DTA Consults on Upcoming “Trusted Digital Identity Bill” Explore More

    News

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards

    The Companies Office of Jamaica (COJ) has established an AML and CFT unit to comply with FATF req...

    COJ Organizes Anti-Money Laundering Unit to Meet FATF Standards Explore More

    News

    ECB Will Be Launching Digital Euro Project

    An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet...

    ECB Will Be Launching Digital Euro Project Explore More

    News

    Central Bank of Nigeria Lifts Limit on $10k Deposits for Domestic Account Holders

    Domestic account holders of Nigeria will be able to access the funds in their accounts without hi...

    Central Bank of Nigeria Lifts Limit on $10k Deposits for Domestic Account Holders Explore More

    News

    Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List

    According to the Paris-based watchdog, Financial Action Task Force (FATF), Panama and the Cayman ...

    Panama & the Cayman Islands’ AML Efforts May Lead to Removal From FATF Gray List Explore More

    News

    Signature Bank under Criminal Investigation

    US prosecutors are investigating the relation of Signature Bank with crypto clients as regulators...

    Signature Bank under Criminal Investigation Explore More

    News

    UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022

    UAE’s AML task force has imposed fines of over Dh41 million ($11m) in the first six months of 202...

    UAE Issues a Total of $11 Million in Fines for AML Offenses in First Half of 2022 Explore More

    News

    India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill

    India’s financial watchdog has proposed a new crypto bill to impose a $2.65M fine and jail for vi...

    India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill Explore More

    News

    Coronavirus: UK economy recovering gradually, says Bank of England

    Bank of England (BOE) governor, Andrew Bailey, stated that there are signs of the UK economy grad...

    Coronavirus: UK economy recovering gradually, says Bank of England Explore More

    News

    Saudi Arabia has Achieved Another Victory in the Battle Against Financial Crimes

    Saudi authorities seized $1.06 million from a criminal gang accused of money laundering. The culp...

    Saudi Arabia has Achieved Another Victory in the Battle Against Financial Crimes Explore More

    News

    UAE to Step Up AML Measures to Avoid FATF’s Gray List

    After FATF’s warning to grey list the UAE for AML failures, the region is set to step up complian...

    UAE to Step Up AML Measures to Avoid FATF’s Gray List Explore More

    News

    The US Treasury Department OFAC Enforces Whistleblower Programmes

    According to the US Treasury’s Department Office of Foreign Assets Control (OFAC), companies must...

    The US Treasury Department OFAC Enforces Whistleblower Programmes Explore More

    News

    China Introduces 5-Point Strategy to Enforce Crypto AML Measures

    China’s newly appointed governor of the Central Bank emphasised the AML regulations to safeguard ...

    China Introduces 5-Point Strategy to Enforce Crypto AML Measures Explore More

    News

    California to Reopen its Economy with COVID Vaccine and Testing Requirements

    After more than a year of COVID-19 restrictions, the State of California to finally reopen its ec...

    California to Reopen its Economy with COVID Vaccine and Testing Requirements Explore More

    News

    FATF applauds Korea’s AML and CFT efforts

    According to the FATF, Korea features a sound legal framework to tackle money concealment and ter...

    FATF applauds Korea’s AML and CFT efforts Explore More

    News

    Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering

    A group of 2,468 Nigerian nationals accused Flutterwave Payments Technology of defrauding them of...

    Nigerian-Owned Tech Firm, Flutterwave, Closes 45 Bank Accounts Due to Money Laundering Explore More

    News

    Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks

    The Morrison government has announced an $800 million budget for expanding digital identity check...

    Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks Explore More

    News

    Digital IDs Becoming Useful for Fighting Financial Crimes

    The use of digital IDs has proved to be advantageous for fighting financial crimes. Research has ...

    Digital IDs Becoming Useful for Fighting Financial Crimes Explore More

    News

    Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines

    The Monetary Authority of Singapore (MAS) has imposed $7.8m fines on financial sector businesses,...

    Singaporean Regulatory Authority Imposes $7.8M Worth of AML Non-Compliance Fines Explore More

    News

    Bahrain sentences three money-laundering suspects to prison

    Bahrain fined three suspects of $9 million and sentenced them to prison in the Future Bank case. ...

    Bahrain sentences three money-laundering suspects to prison Explore More

    News

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals

    Liberia, one of the poorest countries in the world, is said to spend an enormous and highly suspi...

    Liberian Ministers Allegedly Laundering Money Using Foreign Lobbying Contracts, Investigation Reveals Explore More

    News

    Philippines Extends Registration Period for Amended AML Regulations

    The Anti-Money Laundering Council in the Philippines has revisited the guidelines of the Anti-mon...

    Philippines Extends Registration Period for Amended AML Regulations Explore More

    News

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank

    Lesetja Kganyago, Governor SARB confirms to the Parliament’s standing committee about the i...

    Non-Compliant Banks Can End Up In FATF’s Gray list – Warns Governor of the South African Reserve Bank Explore More

    News

    Financial regulators assure further assistance to the industry during COVID-19

    Global financial regulators guarantee to provide ease in the regulations to deal with the COVID-1...

    Financial regulators assure further assistance to the industry during COVID-19 Explore More

    News

    Europe Bolsters Fight Against Financial Crime with AMLA Formation

    The European Parliament (EP) and European Union (EU) council teams have agreed to create the Euro...

    Europe Bolsters Fight Against Financial Crime with AMLA Formation Explore More

    News

    Dubai Court Sentences Gang of 18 for Charges of Money Laundering

    The Dubai Criminal Court has convicted a gang of 18 individuals belonging to different countries ...

    Dubai Court Sentences Gang of 18 for Charges of Money Laundering Explore More

    News

    Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud

    Hong Kong Authorities claimed they received over 23,000 complaints against the Dubai-registered c...

    Hong Kong Crypto Exchange Platform JPEX Involved in a $178M Fraud Explore More

    News

    MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling

    Malta Gaming Authority is set to introduce player protection guidelines after being placed on the...

    MGA to Introduce Detailed Player Protection Guidelines for Responsible Gambling Explore More

    News

    455 Social Media Accounts Flagged for Rolling Out Fake IDs – Europol Reports

    455 social media accounts flagged by Europol, which were providing fake identity documents to ill...

    455 Social Media Accounts Flagged for Rolling Out Fake IDs  – Europol Reports Explore More

    News

    FinCEN Proposes Beneficial Ownership Reporting Requirements

    The FinCEN proposed beneficial ownership reporting requirements to protect U.S financial system f...

    FinCEN Proposes Beneficial Ownership Reporting Requirements Explore More

    News

    UAE Extends the Deadline for DNFBPs to Register for AML Regulations

    The Ministry of Economy (MoE) in Abu Dhabi has announced the deadline extension for the registrat...

    UAE Extends the Deadline for DNFBPs to Register for AML Regulations Explore More

    News

    Hong Kong Launches Meta Verse to Combat Crypto Crime

    CyberDefender Metaverse is the first metaverse platform launched by Hong Kong Police to combat cr...

    Hong Kong Launches Meta Verse to Combat Crypto Crime Explore More

    News

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report

    According to the Police, 725 cases of investment scams occurred within the first seven months of ...

    Hong Kong Sees 20-fold Spike in Investment Scam Losses – Report Explore More

    News

    PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud

    PSR has advised UK banks to compensate customers who have been the victims by APP (authorized pus...

    PSR Orders UK Banks to Reimburse Customers Tricked by Payment Fraud Explore More

    News

    New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions

    New Zealand is working towards a national law that would bring consistency to the country’s effor...

    New Zealand to Introduce Digital IDs to Foster Trust in Online Transactions Explore More

    News

    German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas

    Hengeler Mueller, a German law firm, investigated the loopholes in the Anti-Money Laundering (AML...

    German Law Firm Denies Money Laundering Allegations Against Deutsche ReGas Explore More

    News

    Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering

    The cybercrime unit of Dubai Police has started monitoring cryptocurrencies to ensure that digita...

    Dubai Police Monitors Cryptocurrencies for Prevention of Money Laundering Explore More

    News

    The United Kingdom implements new Anti-Money Laundering regulations

    The United Kingdom’s finance and economics department has announced the incorporation of new Anti...

    The United Kingdom implements new Anti-Money Laundering regulations Explore More

    News

    UK and UAE Take Steps in Joint Efforts to Combat Money Laundering

    In the UAE-UK Partnership to Tackle Illicit Financial Flows, the two countries are in talks about...

    UK and UAE Take Steps in Joint Efforts to Combat Money Laundering Explore More

    News

    Hong Kong regulators looking into possible overcharging by brokers

    HONG KONG – Hong Kong’s financial regulators announced on Monday that they would analyze th...

    Hong Kong regulators looking into possible overcharging by brokers Explore More

    News

    SRA, India’s FIU, and the ACMA Issue Non-Compliance Fines Exceeding $2 Million

    The Solicitors Regulation Authority [SRA], India’s Financial Intelligence Unit [FIU], and t...

    SRA, India’s FIU, and the ACMA Issue Non-Compliance Fines Exceeding $2 Million Explore More

    News

    London has been Dubbed as a Money Laundering Base

    The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...

    London has been Dubbed as a Money Laundering Base Explore More

    News

    Adobe, Twitter and NYT Team Up Against Deepfakes

    Deepfakes, whether synthetic or manipulated, are rising at an alarming rate. They can cause immen...

    Adobe, Twitter and NYT Team Up Against Deepfakes Explore More

    News

    Indonesia to Pass Regulations to Control Money Laundering

    Indonesia is looking to develop a strong regulatory framework to curb money laundering and terror...

    Indonesia to Pass Regulations to Control Money Laundering Explore More

    News

    Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law

    The UK’s Financial Conduct Authority (FCA) updated the crypto industry regulations recently, whic...

    Experts Warn Many Firms Will Face Challenges With Latest FCA UK Crypto Law Explore More

    News

    FCA Raises Major Concerns about Investing in Non-Fungible Tokens (NFTs)

    The FCA highlighted the significant risk associated with the Non-Fungible Tokens (NFTS) which may...

    FCA Raises Major Concerns about Investing in Non-Fungible Tokens (NFTs) Explore More

    News

    Danish Gaming Regulator Sanctions Unibet Over AML Violations

    Spillemyndigheden, the Danish Gaming Regulatory Authority has sanctioned Unibet for failing to co...

    Danish Gaming Regulator Sanctions Unibet Over AML Violations Explore More

    News

    Money Laundering Watchdog Fines HSBC for AML Violations

    HSBC Malta has been fined €82,000 by Financial Intelligence Analysis Unit (FIAU) for AML violatio...

    Money Laundering Watchdog Fines HSBC for AML Violations Explore More

    News

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance

    Bithumb, Coinone and Korbit have founded a joint venture to facilitate all efforts for maintainin...

    Bithumb, Coinone and Korbit Team Up for FATF Travel Rule Compliance Explore More

    News

    Guyana Strengthens Judicial Officers Ability to Combat Financial Crime

    Guyana’s government started asset recovery training for the judicial officers to boost their capa...

    Guyana Strengthens Judicial Officers Ability to Combat Financial Crime Explore More

    News

    Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M

    Investigators suspect that the criminal gang laundered part of the cash through casinos in Macau....

    Hong Kong Custom Busts Money Laundering Ring Accused of Smuggling HK$170M Explore More

    News

    Transparency International Declares South Sudan Second Most Corrupt Country

    In the East African region, South Sudan has been ranked as the most corrupt country in the world....

    Transparency International Declares South Sudan Second Most Corrupt Country Explore More

    News

    Visa and BlockFi Team Up to Launch Bitcoin Rewards for Credit Card Users

    As digital currencies are entering different regions of the world, financial giants are introduci...

    Visa and BlockFi Team Up to Launch Bitcoin Rewards for Credit Card Users Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started