“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow […]
-- Australia’s employment space grew much lesser than expected in January, while unemployment rose to a two-year high as the year-end holidays saw a fewer number of...
-- The Japanese economy unexpectedly shrank in the fourth quarter of 2023, entering a technical recession as sticky inflation and a weak yen weighed on private...
According to PANews, the Japanese Financial Services Agency (FSA) is urging the country's financial institutions to strengthen their monitoring of illegal transfers to cryptocurrency exchange providers. The Japanese National Police Agency's analysis concluded that the damage caused by fraud related to illegal remittances is primarily due to the use of cryptocurrency transfers. The FSA encourages financial institutions to further enhance user protection based on risk. Specifically, the FSA suggests that 'if the sender's name is different from the account name, financial institutions should stop transferring to cryptocurrency asset exchange service providers.'
According to Cointelegraph: Adam Colin Todd, CEO of the Digitex Futures exchange, has been indicted by the United States Attorney’s Office for the Southern District of Florida for violating the Bank Secrecy Act (BSA). The indictment, issued on February 12, accuses Todd specifically of failing to establish and implement an adequate Anti-Money Laundering (AML) program, including the necessary Know Your Customer (KYC) program. According to the accusation, Todd operated an unregistered futures platform from January 2018 to April 2022 and willfully neglected to set up required AML measures. Because of this failure, it's suspected that the platform was open to misuse for money laundering and other illicit activities. The indictment further notes that Todd publicly refused to implement KYC policies for Digitex Futures, which could result in a sentence of up to five years if convicted. The Federal Bureau of Investigation (FBI) Miami investigated the case, led by Assistant U.S. Attorney Trevor Jones. Todd's violation of the BSA, a crucial law in combating financial crimes, is considered a serious offense. The Act compels financial institutions to retain records and report certain transactions to the Financial Crimes Enforcement Network (FinCEN). This latest charge against Todd follows a prior fine of $16 million imposed by U.S. federal court in mid-2021, for Todd's failure to register the futures exchange with the U.S. Commodity Futures Trading Commission (CFTC). In addition to this violation, the CFTC also accused Digitex of manipulating the price of its native DGTX token. Consequently, Todd and four companies under his control were banned from trading in any CFTC-regulated markets and required to pay a $3,912,220 disgorgement and an $11,736,660 civil monetary penalty.
-- Australian consumer sentiment improved substantially in early-February, a private survey showed on Tuesday, amid increased hopes that the Reserve Bank was done...
Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=_dsdWwg_XtA VIDEO TRANSCRIPT Okay, hello everyone, and welcome back. My name is Greg Firman, and this is the VantagePoint AI Market ...
The US dollar has remained stable as markets processed the increasing geopolitical risks in the Middle East and awaited further US economic data. The steadiness comes despite a...
The Energy Information Administration's (EIA) Crude Oil Inventories report, a key measure of the weekly change in the number of barrels of commercial crude oil held by US firms,...
The ADP National Employment Report, a significant measure of the monthly change in non-farm, private employment, has revealed a rise in the number of jobs added to the U.S....