Receita Federal criou nesta sexta-feira, através de ato executivo publicado no Diário Oficial da União, um código para especificar as multas para contribuintes que não declararem suas operações em Bitcoin e outras criptomoedas no Brasil
Juan LlanosBrazil’s tax authority has just prescribed slap-on-the-wrist fines (<$400) for failure to declare #crypto earnings.
Even the mighty can fall – Apple agreed to pay OFAC $467k for violations of the Foreign Narcotics Kingpin Sanctions regulations. In 2008, Apple...
Juan Llanos"Apple’s screening tool failed to identify SIS and Stjepanovic. According to Apple, its screening tool failed to match different upper case and lower case letters that appeared in Apple’s system and the SDN List."
#OFAC #AML #compliance
To fight money laundering and other crimes, the Bank Secrecy Act requires banks to verify customers’ identities and report suspicious activities. We looked at federal oversight of banks’ compliance with these requirements—particularly when banks’...
Juan LlanosThe examiners from the examining body examining the four federal examiners of federal financial institutions have concluded that in order to achieve the examination objectives of the examining body, the federal examiners of... 1/ gao.gov/products/GAO-2…
#AML #MSB #derisking
At times, we AML professionals that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules.
Juan Llanos"How successful is our strategy in the wars against drugs, money laundering and corruption?" @robertmazur
Adding thoughtless, wasteful, #compliance to the futility of global efforts seems tantamount to insult over injury. #AML #financialcrime
Protests in Hong Kong, Lebanon, and Iran have forced cypherpunks to test censorship resistant technologies in the wild.
Juan Llanos"When global #crypto exchanges and service providers ban a population due to #sanctions or #compliance concerns, [...], ties to global communities can provide a lifeline." #bitcoin #blockchain #derisking
An irony of studying history is that we often know exactly how a story ends, but have no idea where it began. Here’s an example. What caused the financial crisis? Well, you have to understand the mortgage market. What shaped the mortgage market?...
As part of its newly devised strategy, Lithuania put several tools in place.
Juan Llanos"A #fintech firm may know the ins and outs of AI, deep learning or any other tech, but members of the management board may not have the necessary financial skills.” It's always all about the fundamentals. #crypto #bitcoin #blockchain
States might soon make a real claim on unclaimed virtual currency accounts, forcing digital asset custodians and exchanges to address murky statutes and potential legal liability. "States have a good nose to smell just which industry isn't compliant...
Juan LlanosThat's right. Escheat (or unclaimed property) laws are another obligation for US money transmitters that almost nobody knows about. Unenforceable in the non-custodial #crypto world, so Satoshi's dormant funds are ok. #bitcoin #blockchain
The long read: South Dakota is known for being the home of Mount Rushmore – and not much else. But thanks to its relish for deregulation, the state is fast becoming the most profitable place for the mega-wealthy to park their billions
Juan Llanos"Keep your money in Switzerland, and the world knows about it; put it in the US and, if you were clever about it, no one need ever find out. The US was on its way to becoming a truly world-class tax haven." #crypto #bitcoin #blockchain #AML