21 Burst results for "Financial Action Task Force"

"financial action task force" Discussed on The Breakdown with NLW

The Breakdown with NLW

06:38 min | 4 months ago

"financial action task force" Discussed on The Breakdown with NLW

"And use referral code breakdown to support the show. Speaking of regulatory practices, the other piece that we're going to read today is from coin desk, and it's by boaz sobrado, a London based FinTech analyst in cryptocurrency enthusiast. The piece is called crypto should disrupt current anti money laundering practices, not adopt them. Modern know your customer anti money laundering regulations are ineffective. Crypto represents a better option to address this problem. Until the early 20th century, highly respected doctors would routinely engage in bloodletting to cure ailments ranging from acne to tuberculosis. While we have left bloodletting behind, we are still engaging in putatively helpful, but variably destructive practices. Modern know your customer anti money laundering KYC AML regulations are equivalent to financial bloodletting today. They do little good and may cause a lot of harm. Yet whether we like it or not, the KYC AML nightmare is coming to crypto. A few weeks ago, news broke that a consortium of U.S. based crypto companies had formed trust, a travel rule compliance platform that expands financial surveillance. Incorporated companies must abide by the law of their local jurisdiction. Yet crypto shouldn't blindly follow legacy AML rules from the financial action task force. The global money laundering and terrorist funding oversight group. It should disrupt them. A recent phenomenon. The idea of money laundering is a relatively recent one. In 1970, Richard Nixon passed the euphemistically named bank secrecy act, which required financial institutions to spy on their customers. Keep in mind Al Capone and other U.S. mobsters had already been successfully prosecuted for tax evasion 40 years before, the bank secrecy act was passed. Since then, the scope of surveillance has grown exponentially. For example, banks in 1970 were required to report transactions in excess of 10,000. Today, the limit remains 10,000, but 10,000 in 1970 is equivalent to 73,000 today. Only after the 1990s did the rest of the world criminalize money laundering. Mostly because of U.S. pressure after the 2001 terrorist attacks on the World Trade Center and Washington D.C.. What have been the results of this policy experiment? According to financial crime specialist, doctor Ron Paul, very little. Current AML rules don't stop the vast majority of money laundering. The United Nations estimates that less than 1% of all criminal assets are seized globally, meaning that over 99% of criminal assets get laundered with impunity. Why would criminals use the relatively small cryptocurrency market to launder funds on a public record when they can easily launder billions through the conventional financial system without a trace? AML regulations also come at a great financial cost. Worldwide spending on AML and sanctions compliance by financial institutions is estimated to exceed a $180 billion a year. About a hundred times more than the 1 billion to 2 billion in criminal assets that get seized annually. Social costs are also high. The bureaucratic rules designed to keep criminals out disenfranchised millions of legitimate customers. More often than not, these are marginalized groups. If you live in a smaller poor country, you might find it impossible to jump through the arbitrary hoops designed by a San Francisco product manager on the advice of a London lawyer. The author has personally been locked out of accounts because a small EU government issued document was not accepted as a valid proof of address. The company's KYC service couldn't comprehend that there are places where people do not use utility bills to prove residents. AML departments and financial service companies are more about complying with AML legislation than actually stopping money laundering. A 2014 study found that identity verification quote principles guidance and practices resulted in processes that are largely bureaucratic and do not ensure that identity fraud is effectively prevented. In other words, fraud has been growing at astronomical rates worldwide. And KYC laws have already greatly contributed to this. People are now accustomed to share their personal identity documents with a wide range of actors ranging from banks to telecom providers to pornography websites. Is it surprising when their information gets compromised? Crypto is well suited. How can cryptocurrency disrupt AML regulations? Cryptography based systems are uniquely well suited for proving identity and source of funds. Moreover, they can do so in a privacy preserving and transparent way. For instance, you could open accounts at a centralized entity, pseudonymously, using a public key verified by a trusted authority. That way, you only have to trust one entity with your details. A similar privacy preserving method could be used in decentralized finance using zero knowledge proofs. Indeed, there is evidence that crypto is starting to disrupt sanctions enforcement. Coinbase announced it had limited access to its services in 25,000 wallets that may be related to sanction Russians. The non custodial privacy focus wallet wasabi has announced it will be blocking sanctioned addresses from its coin join pools, meaning that users can be confident they won't be mixing funds with sanctioned individuals. These measures while countering the censorship resistant ethos of cryptocurrency generate much less collateral damage than the blanket bans and creeping surveillance of the current regime. Although medical bloodletting was probably well intentioned over centuries, it caused a lot of unnecessary suffering. Came at great societal cost and did nothing to treat disease. The cryptocurrency industry was born from a realization that the modern financial system leaves individuals vulnerable to abuse by trusted third parties. Current regulatory hodgepodge of that of driven KYC and AML regulations have birthed ineffective systems that do little to stop money laundering. Instead, they enable political censorship, financial surveillance, fraud, and inequality. The cryptocurrency industry should lead by example through the use of new innovative and effective anti crime methods instead of forcing old ineffective ones. Now I think this is a good piece. I don't necessarily agree that the crypto industry's job is to willfully disobey the law. And that's not exactly what the author is advocating for. But I do think that the crypto industry could be a leader in a larger national and global conversation about the cost of financial surveillance regimes, and the potential these new types of systems actually offer more scalpels than hammers. I think in other words, if there is a positive, productive, future oriented conversation to be had that aligns financial sovereignty and the needs of a society as a whole. But inertia is a hell of a thing. So having that conversation will not be easy. For now I want to say thanks again to my sponsors next to IO, arculus and FTX, and thanks to you guys for listening. Until tomorrow be safe and take care of each other. Peace. Hey breakdown listeners come join coin desks consensus 2022. The festival for the decentralized world this June 9th through the 12th in Austin, Texas. This is the only festival showcasing and celebrating all sides of blockchain, crypto ecosystems, web three, and the metaverse, and is designed for crypto newbies, investors, entrepreneurs, developers, and creators. Don't miss speakers like Kathy wood, SPF, CZ, punk 6 5 two 9 and Joe lubin to name just a few. Use code breakdown to get 15% off your pass at coindesk dot com slash consensus 2022..

boaz sobrado crypto companies financial action task force Washington D.C. U.S. Al Capone London tuberculosis Richard Nixon Coinbase World Trade Center acne Ron Paul United Nations EU San Francisco Kathy wood
"financial action task force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:39 min | 7 months ago

"financial action task force" Discussed on Bloomberg Radio New York

"Dramatic dissents in Silicon Valley history She could face 20 years that her sentencing which will take place in a few weeks She remains free on bond In San Francisco I'm at Baxter Bloomberg daybreak Europe Onto oil and OPEC and its allies may boost production again when they meet today Bloomberg Simone foxman has the preview OPEC plus delegates say the groups on track to ratify another modest output revival of 400,000 barrels a day restoring supplies shuttered during the pandemic The decision would come after the group's analysts cut estimates for the surplus expected in the first quarter They see a surplus of 1.4 million barrels a day in the first three months of 2022 about 25% smaller than what they estimated a month ago OPEC plus were started about two thirds of the production It halted in 2020 And it's seeking to drip feed the remainder to avoid sending the oil market into a new slump In Doha I'm Simone foxman Bloomberg daybreak Europe China's factory activity expanded in December as production and sales picked up Bloomberg's world's Lincoln has the details China's Tyson manufacturing PMI rose to 50.9 last month from November's 49.9 topping expectations for a smaller rise to 50 Output rose at the fastest pace in the past year supported by improved market conditions and stronger customer demand while inflation eased but employment fell for the 5th month in a row The job market was still under pressure and businesses were less optimistic indicating unstable economic recovery In Hong Kong and Rosalind Chen Bloomberg daybreak Europe Now the United Arab Emirates is at increased risk of being placed on a global regulator's watch list over dirty money The list covers countries subject to more oversight for shortcomings in combating money laundering and terrorist financing even after a recent government pushed to stamp out illicit transactions in the UAE Bloomberg understands the financial action task force that compiles this list is leaning towards adding the UAE to its so called gray list early this year On to corporate news flow and Apple stock market value briefly rose above the $3 trillion Mark yesterday shattering another record The story from Bloomberg's Charlie pellet The company is the first to achieve that milestone although it failed to hold above the level through the end of the trading day it closed two and a half percent higher at one 82 O one with a market capitalization of $2.99 trillion The iPhone maker's share price has climbed steadily for years leaving it up more than 200% since COVID first sent the world into lockdown in early 2000 and underlying the centrality of technology for work education entertainment and keeping connected In New York Charlie pellet Bloomberg daybreak Europe Now let's get the latest in global news flow Here's Bloomberg's Leanne guerin's happy new year Happy new year Anna nice to see you in 2022 Now let's start with some grim news out of the U.S. which has set a global daily record of over 1 million coronavirus cases today The tally was almost double the previous record set just days ago Health officials are hopeful that deaths will not rise as much as infections Now prince Andre's lawyers will present arguments to a U.S. judge later asking for a civil case against him to be thrown out Bloomberg you and pulse has those details The newly released documents show the woman suing Prince Andrew's sexual assault took a half $1 million payment in a confidential 2009 settlement with Jeffrey Epstein According to the paper's Virginia agreed not to sue anybody connected to Epstein who could be described as a potential defendant The Duke of York's legal team says that means her lawsuit is barred Due phrase lawyer says it's irrelevant The prince denies allegations of sexual assault In London I'm your import spring break day break Europe Here in the UK Boris Johnson is warning the house service will remain under strain for weeks amid the current search in cases but the government is insisting there is no data suggesting further restrictions are necessary in England The prime minister says he amaran variant seems to cause milder symptoms but we must not get carried away about that Looking at the pressures on the NHS in the next couple of weeks looking at the numbers of people who are going to be going into hospital It will be absolute folly to say that this thing is all over now by the shouting Meanwhile multiple hospitals have declared critical incidences amid warnings the NHS is in a state of crisis in the face of.

Simone foxman OPEC Baxter Bloomberg Europe Bloomberg Rosalind Chen Bloomberg UAE Bloomberg United Arab Emirates China Silicon Valley COVID Charlie pellet Doha
"financial action task force" Discussed on WSJ What's News

WSJ What's News

01:36 min | 10 months ago

"financial action task force" Discussed on WSJ What's News

"A paid family leave plan from President Biden's social and climate policy Bill, according to people familiar with the talks, The White House continues to whittle the bill down with Senate Democrats. It's been cut to $1.75 trillion. President Biden is expected to visit Capitol Hill today. The White House is trying to rally the necessary democratic support for the bill before the president meets with world leaders at the G 20 summit this weekend. A new study shows that a widely available antidepressant may keep people infected with COVID-19 out of the hospital. The large scale clinical trial found COVID patients with at least one high risk factor who received fluvoxamine were a third less likely to go to the hospital. Scientists don't know exactly how it works against COVID-19, but the study's co author says the drug may help blunt out of control inflammation. The antidepressant costs as little is $4 for a course of treatment. The financial action task force has called on governments to strengthen their regulation of cryptocurrencies to combat money laundering. The panel's recommendations do not have the rule of law, but they can influence members to change their local regulations. The U.S. China in much of Europe are members of the task force. The new guidelines suggest regulators tighten decentralized finance, which allows anonymous people to swap assets, such as cryptocurrencies with one another. An Elon Musk's net worth is approaching $300 billion, putting him far ahead of the rest of the world's richest people, Musk's rise is largely being fueled by Tesla's stock rally, and now traders are betting that'll continue. Roughly one out of every $2 trader spent in the U.S. listed options market on Monday and Tuesday went to Tesla options. That's according to CBOE global markets data. There.

President Biden COVID White House whittle financial action task force Capitol Hill Senate Elon Musk U.S. China Europe Tesla Musk CBOE
"financial action task force" Discussed on Unchained

Unchained

04:18 min | 1 year ago

"financial action task force" Discussed on Unchained

"Invest files for an etf arkan throwing its hat into the bitcoin. Etf ring according to a filing with the securities and exchange commission if approved by this he see the fund would trade under the ticker arc be on the cbo Exchange arc invest is partnering with twenty one shares to launch the. Atf arc is joining eight other. Etf applicants including fidelity galaxy and night egg among others. However it appears the sec is in no rush to approve of bitcoin. Etf application in the past two weeks. The regulator has postponed its decision on valkyries and then x. bitcoin etf filings next headline crypto markets. Where the talk of the house on wednesday cryptocurrency was the main subject of conversation during wednesday's. Us house committee on financial services hearing titled america on fire will the crypto frenzy leads to financial independence and early retirement or financial. Ruin the block reports that much of the discussion featured a comparison between the financial crisis of two thousand eight and the current state of the crypto markets. To other bits of regulatory news the financial action task force delay the financial the finalization of its draft guidance until october the draft guidance if implemented could have a massive impact on defiant self hosted wallets due to its strict language surrounding vasts or virtual assets service providers fed of guidance also includes the travel role which would force vasts to transmit information to each other for transactions over three thousand dollars a role that would significantly hamper many essentially to applications vinson released the first iteration of a document titled anti money laundering and countering the financing of terrorism national priorities which identified as priorities one of which was quote relevant virtual currency considerations they agency plans to issue regulations specify how financial institutions should incorporate the priorities into anti money laundering programs at a later date next headline robin hood files for an ipo. On thursday robin hood the popular in somewhat infamous stock trading. Up for an ipo with the sec. The company aims to raise one hundred million dollars and plans to trade under the ticker symbol hood on nasdaq that s. One filing shows massive growth for the company. Which is more than double the number of accounts on the platform and tripled its assets under custody and just one year according to the filing crypto trading made up seventeen percent of robin hood's on revenue which totaled five hundred twenty two million dollars. This is up from four percent in q. Four of twenty twenty notably. A big chunk of that growth came directly from doj coin which accounted for thirty four percent of the firms crypto transaction revenue meaning. Robinhood made roughly thirty million dollars for being a meam middleman. The company's s. When filing comes in the same week that finra hit the trading with a seventy million dollar fine for quote systemic supervisory failures and significant harm suffered by millions of customers. All right time for fun bits. The b word. Mark your calendars for july twenty first because elon. Musk and jack. Dorsey have agreed to discuss bitcoin. With each other. At an event titled the b word though the event is not yet one hundred percent confirmed as usual. Musk's acceptance of the invitation was somewhat odd. Here is the back and forth to end the pod. here's jack advertising. The b word conference the bitcoin development community above all else as more companies and institutions. Get into the mix. We all want to help. Protect and spread. What makes bitcoin open development so perfect. This day is focused on education and actions to do just that ilan by curious. Oh right debt. Coin ha jack bazaar. let's you. And i have a conversation. At the event you can share all your curiosities. Ilan laughing my fucking ass off. Omg check leads. Have the talk. Ilan for the bit curious very well then. Let's do it wink. Face.

Us house committee on financia financial action task force robin hood sec cbo securities and exchange commis vinson america Musk doj finra bitcoin
"financial action task force" Discussed on Corruption Crime & Compliance

Corruption Crime & Compliance

07:33 min | 1 year ago

"financial action task force" Discussed on Corruption Crime & Compliance

"Are sort of goals and and ways that they wanna. They're sort of the objectives of this memorandum and the interagency review process. Now which is two hundred days away will include. Obviously the vice president departments of state treasury defense justice commerce energy homeland security o. m. b. The us mission to the un Deny director of national intelligence the cia The joint chairman of the joint chiefs of staff the chairman of the joint chiefs of staff. usa. Id and the national security agency. So all of these agencies at a minimum will be Will be looking at ways in which that they can enhance the battle Enhance the per-. The inner corruption fight whether it be ref- resources personnel sharing information. All of these types of things that are going to be an you know to take the anti-corruption battle To the to the next level now they also issued a fact sheet. Which i think was quite an interesting and we can get an idea here. at sort of where they're where they're heading in terms of On elicit finance for example. They're going to lead in from international efforts to bring transparency to the us and international financial systems so we may have even more regulation coming beyond that that or more attempts to regulate beyond that which was in the anti money laundering act which was enacted earlier this year and they want to focus on offshore financial secrecy seizing stolen assets and making it more difficult for those who steal to hide behind anonymity so there's a beneficial ownership registries There's going to be other sort of The ability of illicit actors to high behind anonymity. By let's say residential real estate and We're gonna see closing loopholes in the existing regulatory regimes. Now i think the other the other interesting idea is And i think we'll see sort of ramping up some of the sanctions activities to hold corporate individuals Accountable corrupt individuals accountable transnational criminal organizations and other actors in this means strengthening and building anti-corruption sanctions for example under the global magnitsky act and similar authorities and bolstering criminal or aunts or civil enforcement actions such as the doj's kleptocracy recovery initiative as. Well as the fcpa think we'll see more resources going to the fbi more resources going to The the justice department's fraud section which includes the fcpa unit And we may see some Legislative proposals To fix certain laws that are used for anti-corruption we may have for example an increase penalties for the fcpa which is of five year offense in comparison to the money laundering acts Statutes which are twenty year fences so we could see a big change their In addition we may see sentencing guidelines Adjusted and recommendations may to the sentencing commission to adjust the guidelines for criminal penalties In terms of financial fines And other things under the guidelines Cal calculation. I also think think we're gonna see another sort of plateau here in terms of building the international partnerships and coordination As a way to strengthen americans america's alliances and partnerships They're going to work with like minded international partners through the u. n. g. seven financial action task force and similar bodies to push Strategic you know fighting strategic corruption emanating from autocratic kleptocratic governments foreign state owned or affiliated enterprises. And of course transnational criminal organizations So that may be another part To this as well now. Interestingly we had the g seven meeting this weekend and Just released a late today. was a statement with regard to the g seven to announce joint actions on forced labor and global supply chains anti-corruption and ransomware but the commitment On corruption is that The statement that was issued a indicated that Obviously supporting president biden's efforts to cork to curb corruption which was a korir. Us national interest and corruption In the g. Savon members were urged to do more To stop the flow funds into untraceable accounts obscured by shell companies warren real estate and that the g seven partners resolved to taking more meaningful actions to combat corruption such as tackling the misuse of shell companies limiting the ability of bad actors to launder dirty money in real estate purchases. Improving corruption related information searing and reforming foreign assistance to focus on anti-corruption as a cross cutting pyeho priority so the this again is another statement that shows the g. seven members at least are going to make an additional effort here and i think we're going to see a pretty quickly. Some you know ramping up of enforcement in this area Legislative proposals as well as Additional resources and i think the department of treasury is going to play a big role with regard the sanctions In am l. Enforcement and the regulations that are coming out relating to the anti money laundering act and beneficial ownership. These are all issues to watch for But all in all an interesting development and You know as everybody says look it looks good on paper less dressy in practice what it turns into anyway. Well thanks for listening today. Just wanted to give a quick update on that. Hope you all well have a great week and we'll talk to you next week. Thanks again for listening to corruption. Crime and compliance. Please subscribe to the podcast series. The volkhov law group believes that every company should have a robust ethics and compliance program experience in research show that ethical companies are better performers in the global marketplace. You can learn more about the legal and compliance services. We offer at our website. Www dot volkov law dot com. You can also follow our award winning blog. Corruption crime and compliance and our podcast series. You can contact michael volkov at his email address 'em volkov at volkov law dot com.

fcpa joint chiefs of staff departments of state treasury Us justice department national security agency cia un president biden Savon warren real estate fbi department of treasury michael volkov volkov
"financial action task force" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

06:43 min | 1 year ago

"financial action task force" Discussed on WNYC 93.9 FM

"I see this Friday evening. Right now It's 64 degrees will be around 60 overnight and we'll have some early morning. Patchy fog tomorrow. Otherwise, mostly cloudy for our Saturday 68 the high and cool for Saturday night 46 only about 56 Sunny on Sunday. It's eight o'clock. This's W. C. FM HD and AM New York. Okay. Hello. Hi, everyone. Holy cow from W. N Y c in New York. This is on the media. I'm Brooke Gladstone and I'm Bob Garfield. New York Congresswoman Alexandria Cassio. Cortez took to the streaming site twitch this week to play a video game. Oh, and to round up some new voters at the peak point of the stream. Folks of the DNC were saying that they were getting the most referrals to I will vote dot com than they ever have before, plus how to leverage the failure of local newspapers. To take advantage of desperate out of work. Journalists I would never in a billion years work to promote political packs. Certainly not them. I feel really, really used. Pink slime pay for play both. It's all coming up after this. Live from NPR News. I'm Jack's fear. Time is running out for Congress to pass. The next round of Corona virus will leave funding before Election Day. NPR's Windsor Johnson reports, negotiations between the Trump administration and congressional Democrats have hit another roadblock. Treasury Secretary Steven Mnuchin says the two sides have made significant progress. But he continues to blame House Speaker Nancy Pelosi for holding up an agreement We've offered compromises the speaker on a number of issues is still again. Speaking on MSNBC, Pelosi said The measure still lacks a comprehensive plan to address the pandemic going forward of science. It says This is the path to crushing the virus. Then you have to have some governance to say you must do these things A and we must allocate the resources to get it done. Additional funding for state and local governments is another major sticking point in negotiations. Windsor Johnston. NPR News Washington Caused US approaches a record for the number of new daily Corona virus cases of the situation, and the rest of the world is also becoming increasingly grim. US still leads the world with close to 8.5 million cases, nearly 224,000 deaths, But France has now recorded more than a million confirmed Corona virus cases or passing Spain. Director general, the World Health Organization Ted Rose in a non gay braces when things will likely get worse. We are at a critical juncture in this pandemic. Particularly in the Northern Hemisphere. The next few months are going to be very tough. And some countries are on a dangerous track. President Donald Trump has continued to say the U. S. Is turning the corner on the Corona virus pandemic that there are reports covert 19 hospitalizations were up in more than three dozen states. Texas State appeals court is upheld an injunction of Governor Greg Abbott's order limiting counties to a single drop off site for mail in ballots. And Ruth Snider of Houston Public Media says it's the latest twist in legal wrangling. It could go right up to the final day of voting. The suit was filed by the Anti Defamation League and by common Cause. Texas. Parties argued that the governor lacks the authority under Texas State law, the limit ballot return locations and that the order violates equal protection rights under the taxes, state Constitution. It's likely the state will appeal a ruling again taking the case to the Supreme Court of taxes. The move comes his early voting across Texas is nearly two weeks under way. In a parallel federal lawsuit, the US fifth Circuit Court of Appeals overturned a similar injunction issued by a district court. For NPR News. I'm Andrew Schneider in Houston International Anti Money laundering group says the situation is worse in during the Corona virus pandemic, the group Financial Action Task force, saying fraud linked counterfeit medical supplies, economic stimulus and other scams. Has risen sharply in recent weeks. This is NPR. This is w N. Y. C in New York. I'm Lance. Lucky. New Jersey lawmakers air pushing for federal legislation they say will help protect against more cove in 19 nursing home deaths. Congressman Josh got timer says the bill would require nursing homes to maintain a stockpile of personal protective gear. And developed crisis plans for how to respond to an outbreak. He introduced the legislation in May and now it has support from both parties in the House and the U. S. Senate with flu season right around the corner. It's critical that we're taking steps now to prevent another massive covert tragedy in nursing homes and in the coming months. The bill would also require planning around how to communicate with families during an outbreak More than 7000. Residents of long term care facilities in New Jersey died from Cove it almost half of all deaths in the state. New York City Council heard from parents of students with disabilities today who say their kids aren't getting the services they need. W N. Y. C is Jessica Gould reports. In wrenching detail. Parents describe students frustrated and unable to engage with learning remotely through a screen, leaving them to lash out. Throw their school issued devices against the wall or, in one case stomp so loudly the family was asked to move out of their apartment. Lori Hannon says school should allow students with certain disabilities to have more days of in person instruction. Our kids with autism or not okay and remote learning is not working. Just ask any of the parents. Education officials could not say how many of these students were receiving required services or how often they're attending school. 63 degrees now around 60 overnight. Some early morning. Patchy fog tomorrow remaining cloudy and 68 mostly sunny. Only about 56 on Sunday. This is W N. Y. C. Support for NPR comes from Drexel University. Drexel's academic model is designed to prepare visionary leaders to address the challenges of a changing world more at Drexel dot e d u slash ambition can't wait. From WNBC in New York. This is on the media. I'm Bob Garfield and I'm Brooke Gladstone. First some foresight from Ezekial, Isaiah,.

New York NPR News NPR Texas US New Jersey Brooke Gladstone Bob Garfield Drexel University Corona House Speaker Nancy Pelosi New York City Council President Donald Trump Supreme Court of taxes Congresswoman Alexandria Cassi MSNBC Windsor Johnston Cortez DNC Northern Hemisphere
"financial action task force" Discussed on News-Talk 1400 The Patriot

News-Talk 1400 The Patriot

01:39 min | 2 years ago

"financial action task force" Discussed on News-Talk 1400 The Patriot

"Did you see it according to officials familiar with the matter U. S. intelligence officials told members of Congress in a classified briefing last week that Russia is meddling with the hope of getting trump elected hi Mike Rossi up a new poll finds democratic voters expressing some doubts about the party's presidential nomination process the Associated Press NO RC center for public affairs research poll finds democratic voters expressing generally positive views about all of the party's top contenders but they voice less confidence in the fairness of the process for choosing the next presidential candidate well forty one percent of those surveyed said they have a great deal or quite a bit of confidence and thirty four percent moderate some twenty five percent have little to no confidence self described moderates and conservatives and those forty five or older tended to express higher confidence than liberal in younger Democrats Ben Thomas Washington an international agency that monitors terrorism financing as announced tough new financial scrutiny for Iran and added seven countries to a watch list Iran's government dismissed the move as a politically motivated act by the United States and its allies the financial action task force says Iran hasn't fulfilled its promises to crack down on terrorism financing the monitoring body has given Pakistan a four month reprieve however on Wall Street the Dow down by two hundred twenty seven points the nasdaq dropped one seventy four more on these stories at town hall dot com Masin go okay here maybe you've been hearing about relief back to the one hundred percent drug free supplement that helps a person's body deal with inflammation and pain you've heard all the wonderful testimonials well I have my own testimonial for many years my lower.

Congress Russia Mike Rossi Ben Thomas Washington Iran United States Pakistan Associated Press town hall
Watchdog toughens global financial scrutiny of Iran

Larry Elder

00:23 sec | 2 years ago

Watchdog toughens global financial scrutiny of Iran

"An international agency that monitors terrorism financing as announced tough new financial scrutiny for Iran and added seven countries to a watch list Iran's government dismissed the move as a politically motivated act by the United States and its allies the financial action task force says Iran hasn't fulfilled its promises to crack down on terrorism financing the monitoring body has given Pakistan a four month

Iran United States Pakistan
Iran Remains on Antiterrorism Blacklist, Continuing Sanctions

The World

00:09 sec | 2 years ago

Iran Remains on Antiterrorism Blacklist, Continuing Sanctions

"Meanwhile around it's been officially blacklisted by an international body the financial action task force decided to run as failing to comply with anti terrorism financing

Deep inconsistencies over how States treat terror suspects families: UN rights expert

UN News

08:13 min | 3 years ago

Deep inconsistencies over how States treat terror suspects families: UN rights expert

"Some countries are defining whomever they like as terrorists and exhibiting deep and problematic inconsistency of a how they treat family members of suspected extremists in places like northeast Syria and Iraq that's according to phenomena Nia loin the UN independent human rights expert dealing with counterterrorism. She says that many of the women and children associated with former isolate terrorist fighters are themselves victims and it's a big mistake to curb their rights or to find them simply by Association Misty Loin was at U N headquarters a few days ago to deliver her annual brought the general assembly she told mud wells what her main message had been the context of that report is that protecting and promoting human rights in the context of countering terrorism has never been more fragile and more precarious at the foothold of human rights remains very tenuous and the footprint extremely light there were two specific issues that my report addressed the first was the proliferation of what I call soft law in the area of counter-terrorism soft law seems like an oxymoron laws usually hard but in the absence of a binding treaty on terrorism since nine eleven no one can really clearly define it well it's cure that states have struggled to define it let's say but we do some very clear definitions of acts of terrorism but in the absence of a treaty states have not stood still they have chosen to enact large and proliferating amounts of law through these mechanisms of soft law and my concern is that much of that soft law is a human rights freeze on that there's almost oh substantive content and that there's almost no procedures to ensure the insertion of human rights and that is an enormous problem in the context of protecting and promoting human rights Hillbilly State get away with the fact that you know most people in the world see terrorism and the Lt leafy like terrorists are often named before the facts established. I think it's even more pernicious than that actually I think because we don't have a global definition of terrorism states have been left free to define whom for the like as a terrorist and so what we're finding at the domestic level is some countries for example consider women asking for the right to drive as terrorists and prosecute them under terrorism legislation some states consider persons who protest peacefully in the streets demanding their right political participation to be terrorists under there Domestic Law some for example legislation says any kind of insult or quote dishonor to the state constitutes terrorism so these definitions are so wide it means that in practice what terrorism anti-terrorism work in many states involves simply locking up or restraining or limiting or administrators sanctioning those who happen to disagree with you and that right the right to disagree the right to express the right to protest the right to participate freely in public affairs alright protected by our most fundamental treaties Covenant on seven political rights by the Universal Declaration so it's a huge problem so part from soft law is the other main point to make the second point was that increasingly much of this laws being made in new institutions institution sexually that sit outside of the UN institutions that are not part of the traditional multilateral ace and my report looks two of those one is the Global Counter Terrorism Forum the other is the FATF Financial Action Task Force these entities are small clubs of states come together through mutual south interest and but it's exclusive many states we know that lawmaking is messy for states and when you have lots of states it's even more messy that's part of the barter the fundamental notion that all states are equal and have sovereign equality in the lawmaking process when we create these new institutions and as those are the institutions that are producing much of the soft law who are actually not only excluding human rights because there's very little fundamental structural engagement with human rights by these bodies but also large numbers of states don't get to participate and I think that's a problem from the point of view of sovereign equality it's also a human rights mm-hmm oversee this week terrorists and those who are associated with alleged terrorists have been very much in the news when it comes to northeastern Syria and for many is also of course in Iraq as well I mean what are your concerns about how events progressing this week with special relevance to those families and commute children of alleged terrorists who are in great danger for the mandate is issued a public position it's on the mandates website at the opposite hey commissions ED page in that we make a number of observations and recommendations to states the first is to remember as many states are failing to remember that they have legal obligations to the citizens who find themselves overseas at those include not just human rights obligations but consular assistance obligations those are well entrenched and well established in international law the second thing is to remind ourselves that many of these individuals women and children are in fact victims they are also victims of terrorism. I had the good fortune the responsibility to be in Kazakhstan in May this year when Kazakhstan repatriated two hundred and forty-one citizens from women and children from Iraq and Syria and I interviewed many of those women and their children and what was painfully obvious is that many of these girls were in were went to Syria and Iraq when they were minors they first had sex often unconcerned pointingly as minors which many Western countries would be statutory rape under domestic law they gave birth to children in non consenting circumstances and those children themselves are children protected by the Convention on the rights of the child we cannot and should not ever define women by association to a particular man if that is is the departure of states that's a profoundly illegitimate and frankly undermining of the most basic notion of equality for women so for those who say well they they deserve what they got they went they made the decision to go and surely wouldn't apply that principle for example to women who experienced domestic violence or he wouldn't apply to women who find themselves in precarious circles chances in many domestic situations we wouldn't say you chose to marry that person or follow that person and therefore you have no protection under law it seems to me that that kind of McCurry slope is enormously dangerous not just in Iraq and Syria but on the fundamental notion that we treat individuals individually we assess what they have done individually the mandate has clearly taken the view if certain women if women have been responsible for criminal acts as they are in any country in the world they should be held responsible under the criminal law but bree I'm home and and try them in under fair trial with due process not in states that will subject their axe to the death penalty not in states where other special rapporteurs for example the special return summary and arbitrary executions who visited Iraq in the last two years has has pointed out in situations where their deep fair trial concerns deep concerns about the conditions of detention and most of all I would say we don't we are long past the time where we should be producing circulars guidelines having endless conversations and and and unfortunate hand-wringing about what to do about this problem bear in mind that in other circumstances the UN for example and states have committed to addressing the problem of sexual violence in armed conflict the UN has a special offer for dealing with children in armed conflict so is it suddenly not that all of these rights and obligations that we say apply to women and children in certain conflicts are selective that we get to choose which conflicts we give the does in title mints and Benefits and Protections to it seems to me that would be an abrogation of the most fundamental kind and show a deep and and. and very problematic inconsistency with long term consequences for the notion of the role of the rule of law of equality under law and the right for any individual woman or child to be treated in their own right and to be assessed in their own right and to be treated humanely and with dignity not based on the person to whom they happen to be associated by virtue of birth or by virtue of marriage forced or otherwise

Syria UN Iraq Misty Loin NIA U N Hillbilly State Two Years
"financial action task force" Discussed on KTAR 92.3FM

KTAR 92.3FM

04:19 min | 3 years ago

"financial action task force" Discussed on KTAR 92.3FM

"Right now in negotiations is that correct I think they have the stronger hand certainly yes this call waiting because you know there's so much speculation about president trump wanting to be although a lot of stuff on before his bid for the twenty twenty presidential elections now if I was a Taliban and I knew that all I had to do was wait to Morrow and trump may lose the election next year and then they got somebody else to deal with that of course you know something we perhaps contradict right now I mean I think that all. probably divided opinions even on that sure has that out on most things around Trumbull concerning drum yeah so it's a bit early to say but as if we're not calm winds all someone else wins the point is with the one I'm trying to make is that the US is guilty live you'll all leading hold drive over reality I've been arguing for a very long time perhaps if you recall on this program on on this program you've been arguing that yeah you know for number one that you're all the intervention was a mistake and I told our American friends the journal you will eventually tire like all invaders occupiers of one star mystery and we are at that point now but not all that good at that point you're gone just walk away and leave a bigger mess you know that would be standard double jeopardy. so Russia is there any place for Pakistan in this. markets don has at least you know we know that box on those accused and I've also said it on your program many many times that US markets don Dade started graciously support the Taliban when they fled from of honest on on the box on the soil their headquarters is just outside Quetta not Balochistan province of plays golf coach luck everybody knows that their presence here has been known over the years so to that extent one can argue that box on that to me is being you know playing a double game all sort of deliciously supporting the Taliban by providing safe havens Andrea basis with them to continue that medically campaign what has persuaded Bacchus lawn. you know not the Taliban to arguably the thought talks you know David least more lover other we're number two in the Taliban who's now in the leading the negotiations and all. would be imprisoned for many years and part time so there are signs that markets don decided to cooperate with the United States I think partly as a result of the measures that president trump talk soon after taking office in which he said you know we've given billions of dollars to Pakistan and they have you know they haven't treated. complete well without so to speak so I think the pressures on the one hand from Washington on the other hand you an all black it's on the is in the dock as far as the XEGS is concerned the financial action task force on money laundering and other than financing so Barker song for all these reasons perhaps realize that your role at the very minimum there must how Washington by nudging the Taliban to the negotiating table yeah and they go further tended to wall what does I think the jury's out because beyond a point but have see you in the Taliban or dig in their heels despite that debt of gratitude to blackest on as I mentioned just now and where the progress on long struggle for the for the is also a question that's Russian our voice out of the shower Pakistan right on the affect border that gives you another point especially if you're listening to is from where the show originates in the United States to a Donald Trump is tweeted out and with the Taliban have also tweeted out continue to do your work if you wish to understand the story if you're like the majority of people you wish not to understand important stories like that it's day one of the NFL and you're gonna fantasy football teams you can have been John that also when we come back we'll tell you most likely what Donald trump's next move will be.

one hand
"financial action task force" Discussed on KTAR 92.3FM

KTAR 92.3FM

04:20 min | 3 years ago

"financial action task force" Discussed on KTAR 92.3FM

"Right now in negotiations is that correct I think they have the stronger hand certainly yes this call waiting because you know there's so much speculation about president trump wanting to be although Alanis on before his bid for the twenty twenty presidential elections now if I was the Taliban and I knew that all I have to do is wait to Morrow and trump may lose the election next year and then they got somebody else to deal with that of course you know something we perhaps contradict right now I mean I think that all. probably divided opinion even on that sure has that out on most things around Trumbull concerning drum yeah so it's a bit early to say but I was whether calm winds all someone else wins the point is with the one I'm trying to make is that the US is guilty live you'll all sledding hold drive over reality I've been arguing for a very long time perhaps if you recall on this program on on this program you've been arguing that yeah you know for number one that you're all the intervention was a mistake and I'd told our American friends the journal you will eventually tire like all invaders occupiers of all understand mystery and we are at that point now but not all that good at that point you're gone just walk away and leave a bigger mess you know that would be this kind of double jeopardy. so Russia is there any place for Pakistan in this. markets don has at least you know we know that box on is accused and I also said it on your program many many times that US markets don Dade started dishes please support the Taliban when they fled from of honest on on the box on the soil their headquarters is just outside Quetta in but it's not Balochistan province of baseball coach luck everybody knows that their presence here has been known over the years so to that extent one can argue that box on it for me is being you know playing a double game all surreptitiously supporting the Taliban by providing safe havens Andrea basis for them to continue that medically campaign what has persuaded Bacchus on. you know not the Taliban to arguably the thought talks you know they released more love it either the number two in the Taliban who's now in the leading the negotiations and all. would be imprisoned for many years and part time so there are signs that markets don decided to cooperate with the United States I think partly as a result of the measures that president trump talk soon after taking office in which you say you know we've given billions of dollars to Pakistan and they have you know they haven't. complete well without so to speak so I think the pressures on the one hand from Washington on the other hand you know park it's on the is in the dock as far as the XEGS is concerned the financial action task force on money laundering and other than financing so Barker song for all these reasons perhaps realize that your role at the very minimum there must how Washington by nudging the Taliban to the negotiating table yeah and they go further tended to war whereas I think the jury's out because beyond a point perhaps even the Taliban will begin their heels despite dead debt of gratitude to blackest on as I mentioned just now and where the blackest on launch Google or the photo is also a question that's Russian our voice out of the shower Pakistan right on the affect border that gives you another point especially be listening to us from where the show originates in the United States to a Donald Trump is tweeted out and with the Taliban have also tweeted out continue to do your work if you wish to understand the story if you're like the majority of people you wish not to understand important stories like that it's day one of the NFL and you're gonna fantasy football teams you can have been John that also when we come back we'll tell you most likely what Donald trump's next move will be with the Taliban..

one hand
"financial action task force" Discussed on KGO 810

KGO 810

10:16 min | 3 years ago

"financial action task force" Discussed on KGO 810

"To be in a shooting war with Iran so I guess there are other metaphors but in any event Iran is doing us the favor of speaking aloud about how they do not intend to comply or maintain compliance or transparency or permit inspections or do anything that is consistent with the promises they made in J. CPO way a it is to your knowledge about com is this non compliance it issue for our European allies that remain reluctant to recognize it doesn't appear so at because their French a tone about a fifteen billion dollar bailout and a by pass of American sanctions talk about stakes next even the one French officials said today that none of this happens until the Ron pledges compliance with the U. N. requirements and but in the meantime there's a delegation in Paris today of Iranians who are trying to finalize the details France won't reveal them at the United States has said clearly that they will not allow the fifteen billion dollars at anybody that that's what subject people to to sanctions and that more sanctions are coming the United States in fact now offered fifteen million dollars for leads to disrupt the IRGC operations which is a large shipping network that supposedly passed off of a half a billion dollars in oil last year and is still trying to add them in sell Iranian oil in Spain headed by the former minister of petroleum so it's it's and with the fictional okay and it's directed by the I. O. G. C. from the information that we have a Iran blocked the U. N. from inspecting the site that Israel identified with they said that the the the there was a a storage place for three hundred tons of new. your related equipment in fifty including fifteen kilograms of radioactive material the Iranians said no more no T. inspections and now how many in direct response to your question. I said we are going to phase three of our withdrawing from the obligations of of the J. C. P. O. a Swiss publicly repudiating this at the same time that the Europeans are bending over backwards trying to find ways to induce them even though they are blatantly saying we're in violation and the the United States sanction twenty six peoples and an entity's these are effective sanctions us most tied to the R. G. C. L. cords era and the the year shipping that but the French are sending all the wrong signs even if they say that they have to be in compliance with the F. E. T. F. you know the financial action task force conditions but there's no way that they have till now been in compliance and they also have to show that they're not to comply with the you know into in in terms of the money laundering that they are in forcing the money laundering restrictions so far none of this happened in the last sanctions US put was on the space program because they're developing ballistic missiles under the guise of a space program that we've talked about you know for four satellites for peaceful purposes when in fact they were using that for the list of missiles that will carry warheads there's a lot of fact based policy going on with the trump administration I'm I don't I don't want them to get ahead of themselves Malcolm let's go to the Iranian regime they fire their airforce chief in may man it's been in his job for nine years what did he do beat the books what he didn't do it it's more likely the story and it's really interesting because we were all waiting for the issue to to drop this is brigadier general is my yearly who was fired because he did not add it didn't reveal the violations of Iranian airspace by Israeli Air Force F. thirty five jet fighters and it's interesting that Iran's air defense system did detective but nor did the. Russian S. three hundred anti missile system detect them and and respond and Israeli kept information secret it seems and it was reported how many suspects the Russians gave Israel the secret code to access the S. three hundred great are and to be activated well when they carried out the raid which sent an important message to how many that he is not beyond reaching he keeps thinking that you know they will be able to strike Israel they're moving people out of main city centres and therefore Israel's retaliation won't be as effective well he got it he got a wake up call about the when Israel made clear that they have the capacity to knock on his door now can you recall an incident late in the late in the Cold War when a young person from Germany landed a small aircraft in Moscow's Red Square and there was no explanation for the the fact that the famed Russian defense network did did. right and may be used to smuggle out I'm one is this a comparable issue you know the big bad wolf doesn't have any lies if in the F. thirty five can go in and out of your air space even if the airforce generalize about it Malcolm that's a problem it is a problem especially that that's why I think they were so embarrassed by a wham barrister defense and and the fact that they were so exposed they are obviously you know trying to shore up their defenses we know now the new base at the first base from scratch I think that that could his building any rock in they're planning to to put thousands of troops there and perhaps guided missiles and thinking that they will not draw fire from Israel or at least if Israel has to re aspen to it you know hit in Iraq and not in in the run of but I think the the are the sanctions which are working a both of his black and on on the run a a if the Europeans would only go along and would would shape up in terms of of the response to to what is being done and to Iran's aggression we we saw a case that was revealed today of two Iranians who came with false passports Argentina where we know that Iranian agents carried out the suicide bombings a few years ago that were devastating and they carried for full force passports claiming to be Israelis when in fact they clearly weren't and have been arrested so we have so many cases of a run aggression Iran it actions to destabilize regimes with her doing that with the who sees what they're doing again sorry we did it cetera that the the European okay your actions can only encourage them to believe and to reset today the US treasury is nothing more than a jail ward in. because he knows that this is it is having an impact and that they are deeply concerned about the long term implications Malcolm do you think all these ma hops I use an Assyrian word my mother taught me I don't have much of it but in any event these mops that's me the big deals do you think they'll have accounts and apartments in Paris waiting for. they always have had a you do do member to Las the minister of defense the infamous one I know that he had that he went to Paris in fact and this was the place where many of them kept money to one of the reasons why the sanctions against the Jamaat bank is important because it was a transfer point for them many of the leadership go to Paris and we know that they have funds is sequestered and if we know it we could guess at the I a match in certain authorities would notice well I wonder welcome one sanctions really begin to fight you could send somebody his private banking number from Paris along with the photographs of his Peter chair that is not a longer wait for that would be that would be persuasive Balcom of the sea it was certainly be strong message I can't imagine who would have that good information Malcolm good night Sir we're gonna do gooders quick right I'm a cancer survivor yes you and I pay close attention because once you while you once you cross the line into cancer surviving you are keen on other people joining you and you have information from Israel that seems exceedingly promising for the twenty first century Israel's you know as I technician in the start up nation and they produce often together with the United States with researchers in both countries but you you have a case of Dr Sharon charm who just received FDA approval this week for a in a pivotal trial for X. P. O. V. I. O. I don't know how to pronounce it but forty percent of leukemia patients so they're trimmers tumors shrink while patient life expectancy increased three to five times and the drug is undergoing advanced clinical trials for patients with myeloma lymphoma sarcoma uterine cancer and brain cancer it's it's it's so hopeful and so wonderful that if Israel didn't have to spend all of the energy that it does on defense and fighting terrorism itself can only imagine how many more things like this would come at out of the it creative and. but mom and mines and environment that exists there Malcolm how line conference the president's major American Jewish organizations the only man who can do Israeli politics in less than two minutes and we're going to Israel next to talk about Israeli politics and I'll ask Malcolm that question about groundhog day one more time John that's. balance of nature changing the world one life at a time what are your your guys commercial almost everything that happens with a lot of these people like yours game and everything I mean that stroke and made me alive sixteen are yet arthritis in my hands and my elbows from doing carpet games game in Pauley non you don't notice it when it first happened but as time goes by that you stop for the morning. you know I mean you don't mean a thing it's just gone it just all these little things that. experience the balance.

Iran United States Israel IRGC Paris J. CPO Spain Malcolm I. O. G. C. Ron France J. C. P. O. R. G. C. L. F. E. T. fifteen billion dollars fifteen million dollars fifteen billion dollar
"financial action task force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 3 years ago

"financial action task force" Discussed on Bloomberg Radio New York

"Reports and is collected over three hundred million and the last eleven years Finn send implements the bank secrecy act regulations and has federal regulatory supervisory and enforcement authority over money service businesses and banks the rules governing money service providers applied to physical and electronic transactions alike as money service businesses crypto currency money transmitters are subject to compliance examinations just like every other U. S. bank to be clear Finsen will hold any entity that transaction bit coin libra or any other crypto currency to its highest standards I also recently established the financial stability oversight council is working group on digital assets this S. R. group enables US financial regulators such as fitness and the fed C. C. C. F. T. C. C. F. P. B. S. C. C. and other key stakeholders to work together the combat risks posed by crypto currencies as the president has said bit coin is highly volatile and based on thin air we are concerned about the speculative nature a point it will make sure that the US financial system is protected from fraud given the international nature of crypto currencies we are also going to great lengths to ensure that effective regulation does not stop here at the US border last month led by the United States the financial action task force known as FATF the global standards set or for a M. L. C. F. T. op adopted comprehensive measures on how countries must regulate and supervise activities and providers in the space this was a major step toward harmonizing international regulations concerning crypto currencies we've also had extensive work at the G. twenty and I will be addressing this again this week at the G. seven finance ministers in France to be clear.

US C. C. C. F. T. C. C. F. P. B. president fraud FATF France Finn M. L. C. F. T. eleven years
"financial action task force" Discussed on Liberty Talk FM

Liberty Talk FM

01:35 min | 3 years ago

"financial action task force" Discussed on Liberty Talk FM

"Out of the financial policy F. A. T. F. financial action task force they're taking action these crypto currency exchanges or what they're calling virtual assets service providers saying that not only do crypto exchanges need to begin passing information to and from one another about who holds which account numbers and such is when you have a crypto currency exchange do you the if you've got an account at one of them there's usually a a list of showing all the different crypt as they have been then your balances of each of those different kryptos and you can either deposit into that tripped over one of the coaches or you can withdraw from so if you have a balance you can take out and so what they're saying is if you're going to withdraw from let's say big Klein from exchange a into a different exchange that that other exchange needs to be informed both exchanges basically need to have information about who's holding which accounts on which you can changes I'm curious what are they going to do about a black market exchange rate because if they're required to cooperate with the other exchanges but there's an exchange of doesn't cooperate they wouldn't know that that they would have no idea where the black market exchange addresses were so the only way they they would know okay just looked let's talk more about how this works for listeners that are maybe new they'll get here there's a gentleman waiting here will on our discord line but when you generate a bit coin address or for most crypto currencies this is true when you generate a big point address no one has to know that that event has occurred okay so you don't have you not asking permission from anybody there's no you know you.

Klein
"financial action task force" Discussed on Liberty Talk FM

Liberty Talk FM

05:30 min | 3 years ago

"financial action task force" Discussed on Liberty Talk FM

"So the financial action task force has let loose on its proposal here or saying or were final recommendations saying that crypto exchanges or what they in legal terminology are now calling virtual assets service providers or virus vas quote they will be required that when they host give me that when the crypto businesses send money they will quote of pain and hold required and accurate originator meaning the sender information and required beneficiary or recipient information and submit the information to beneficiary institutions if any so you know in here's the question well how they define money do they include cryptocurrency or is is all about crypto VXX right but I'm saying is it when they say use the word money are they only talking about yet when there it's no it's crypto because the these changes will not send fiat between each other that doesn't happen right which is why I'm wondering when they use the word money it seems very confusing the bees are saying cryptocurrency is not money it's an asset but now here the using the term money so yeah I see what you're saying well anyway well okay just to be clear will just to be clear the word money came before the quote so the author of this article the term money to mean crypto currency okay okay the quote itself starts with the instructions of obtain and hold the required and actually talking about that the time of crypto changes do not send fiat between one another that doesn't happen right but they do send exchanges would send and receive in order to purchase crypto currency or to withdraw from the exchange for current only from an inner into the customer right so that's all I expect the disc that the exchanges would send crypto between them they send crypto between them sorry we send fiat between them also because I've never seen it happen yeah how would you you can you can send well how was stable coins twenty nine but you cannot send US dollar balances well certainly the users can't I would think the administrators of the exchange in exchange already sent out the exchanges when they we you know when they detected in a major imbalance between their prices and some other exchanges price would want to go where you want to go ours are Irish yeah I said that would require sending fiat sure now you're talking about the exchange being a customer of another yes change so now what we're told me later do that all three U. S. T. T. I don't know it would be easier that way now than sending a wire transfer but regardless back to the story here so they're saying that further countries should ensure the beneficiary institutions obtain and hold required not necessarily accurate originator information and required an accurate beneficiary information so they're saying basically you got to share information with one another under the new guidance the regular a required information for each transfer will include the originator's name meaning the sending customer the originators account number where such an account is used to process the transaction the originators physical address in a geographic address or national identity numbers like your social security number or customer identification number that uniquely identifies the originator to the ordering institution or their date and place of birth well so here's the question the huge private I want to know is when I send a wire transfer to some customer in Germany does the bank over in Germany get my social security number I don't think so so this is something that would be on top of and beyond what a bank all normal but I think the bank probably would would get it I mean I think you're right I think that's that's basically you think you might be right I think post two thousand something there that might be the true case yeah I know they're supposed to some information ones are already in place for back what I don't know is if if this was security number would be included but the name Sir well remember this slow there are Carmen is has a bunch of awards in it yeah so your physical address or national identity number or customer ID okay okay the probably sending my address to another bank getting you're not you're not the not my social security number the arresting to look where to ask well you and they may not be logged out telling bank is giving it a no I mean the it goes to a saving over they may not tell the TV I mean look look like your your bank closed every bank is it goes to some other like part of the bank basically to do the actual wire transfer that's right it's not being done by your like a local the branch or whatever they will also be required to transfer the beneficiaries name and beneficiaries account number we're such an account is used to process the transaction quote unquote calling the quote Fred of criminal and terrorist misuse of virtual assets a serious and urgent issue the FATF set in a public statement that it will give countries twelve months okay so I was wondering how long this is going to take to adopt the guidelines with a review set for June of twenty twenty users are not guidelines these are these are like laws actually for all effective purposes on a bright totally unaccountable yeah you know you can elect these people you can opt out of the system the so called travel rules a longstanding requirement for international banks are other money on customers behalf of blockchain industry I think it's are you to be onerous if not impossible to put into practice with crypto as well as harmful to user privacy which of course the the government's don't care about that yeah right and counterproductive to law enforcement.

twelve months
"financial action task force" Discussed on Heartland Newsfeed Radio Network

Heartland Newsfeed Radio Network

03:54 min | 3 years ago

"financial action task force" Discussed on Heartland Newsfeed Radio Network

"I remember seeing it at one of the big liberty festivals here in New Hampshire pork fest several years ago. They came up he came. Several years back two thousand fourteen thirteen maybe even it's been a while. It's been awhile this stuff inter. I remember when it was fairly new so yeah, Markelle marks big promoter of him because he's used it. And the guy's got teeth that I envy. So said long in the short of it is, is I bought my magic about. I tried it a few times. I noticed an immediate improvement. I'm like, wow, that stuff's amazing. And my son was visiting he came down to go to pork fest, with us, and he took off and a couple of days later, I'm looking for my magic bud. Can't find it. I'm like here, little well he he had bought some white beers. I think he did. I think it was an accident because he bought his own. So I think he grabbed both of them are grab mine. So I went without for a while. And now I have a back. So I'm trying it yet again and looking forward to a few days of results trying to get my girlfriend to do it people do freak out the first time they use it, because it's black. I don't know if people remember, but in the back of comic books, they used to have like jokes you could send a money order, and they would send you something. What of was always like black toothpaste? That's what I think about it a joke, you could play in your friends, but you follow the directions and you'll be amazed by the results. I think it's pretty pretty cool. But I don't think is cool. Is this foreign financial action task force that has somewhere around thirty seven countries that belong to it? It. So. I guess, belong to it means they have signed some treaty. They have agreed to follow the rules of this financial action task force, which is the opposite of a free and sovereign country to me, we're going to do whatever they decide to do. And I'm sure the US has some representation, but basically what they want to do is crack down on the funding of terrorists through crypto currency terrorists. Don't use cryptocurrency. Thank you. Michael, what do they use? What is the most popular means of funding for drug dealers, and for terrorists, the US one hundred dollar Bill the Franklin? Absolutely. That's what the biggest drug transactions the biggest funding of terrorism. It occurs with those Benjamin Franklin's the one hundred dollar US Bill. And if you wanna talk about. Making an impact on that. How about you do away with the dollar. Yeah. Let's just get rid of the dollar. That'll that'll fix everything. The story continues calling the quote threat of criminal, and terrorist misuse of virtual, currencies unquote, a, quote, serious and urgent issue, F, A, T F said in a public statement that it will give countries twelve months to adopt the guidelines with a review set for twenty twenty in June. The so called travel rule is a long standing requirement for international banks when send each other money on customers behalf but blockchain industry advocates argue that it would be onerous, if not impossible to put into practice with crypto harmful to user privacy and counter productive to law enforcement goals. It is impossible for them to stop, you, can, you can write whatever laws you. Want they can apply to banking because you control that Mr. government, but you can't control something that doesn't respect borders..

US New Hampshire Benjamin Franklin Mr. government Michael one hundred dollar twelve months
"financial action task force" Discussed on Heartland Newsfeed Radio Network

Heartland Newsfeed Radio Network

08:17 min | 3 years ago

"financial action task force" Discussed on Heartland Newsfeed Radio Network

"Now, the financial action task force, according to Bloomberg is plotting to destroy crypto currencies. They have two hundred countries that will enact whatever bureaucratic nonsense that they come up with. And can they do it? Can they take down crypto individual cryptos? Yes. Can they take down the concept? No. The concept is an idea ideas are bulletproof. Well, they can't even really take down individual cryptos, because like with bitcoin, there's ten thousand nodes. How are they gonna stop all ten thousand of them? Well, I mean they don't necessarily have to stop all of the nodes. They have to stop it from being viable system, or stop it from being useful, right? And then because vile the value of bitcoin is based on bitcoin being useful. Anything that stops it from being useful, if they out if they made it illegal for bricks and mortar shops to take the stuff than that would change things. Now you could still use it on the internet. And they can't entirely shut that down, but it would be relegated to smaller market segment. Then again, it might do better in that market segment. If it wasn't trying to cater to quarter corporate in interests and, and incorporate KYC and all your customer know you're yeah, I mean, maybe it's for the best that cryptocurrencies corporate. America, go their separate ways, which is what the effect of this would be. You know, you're not gonna stop the guy selling. It was selling weed for crypto from taking crypto by naked, the great. Oh, illegal because the winds legal already, you know. But, you know, that's not going to get you necessarily, but amazoNcom will not take it micro. Soft will not take if it's. Yeah, I think you're right about that. I mean definitely having it being available in exchanges makes it easier for people to access it. And if it's harder for them to, you know, to get their hands their digital hands, if you will on crypto that could affect the price, it will definitely affect the availability. If you have to by person to person it's going to be a lot harder to to acquire it. Absolutely. And the other thing is a mining problem. I mean if they if they made the declaration that the entire concept of clip crypto was, if they just made it money laundering, which they could do by simply passing laws that they could, they could say the whole thing is conspiracy to, to wander money. So we're just gonna outlaw the whole meth if that happens then that it's definitely problematic problematic for us because any any minor could be it would be like starting the war on crypto, as like the war on drugs. And that would be fought by the same means a lot of a lot of people would be killed. A lot of people would go to prison. Here's some more information about the story or about what they say may happen. They say the guidelines will require companies now, I don't know how they know this, considering the meeting hasn't happened, yet, it's going to happen on the twenty-first of this month. But they're saying the guidelines they come up with will require companies ranging from exchanges like coin base and Creighton to asset. Mass asset managers Fidelity Investments to collect information about customers initiating transactions of over one thousand dollars or one thousand euros as well as details about the recipients of the funds and to send that data to the recipient service provider, along with each transaction..

Bloomberg Fidelity Investments Creighton America amazoNcom one thousand dollars
Pakistan leader criticises Modi of stoking 'war hysteria'

FT News

07:58 min | 3 years ago

Pakistan leader criticises Modi of stoking 'war hysteria'

"Imran Khan was praised action quickly to avert conflict with India last month after flareup intentions that followed a terror attack in Cushman, but Pakistan's prime minister says he is worried his Indian counterpart Narendra Modi may be stoking unimpressively to beast, his electro prospects, Stephanie Finley our South Asia correspondent spoke to Mr. Khan and Johnston. I sing discusses the interview with Stephanie and with Amy Kazman our South Asia bureau chief. Chose to India to try and have civilized relationship and resolving all shoes through dialogue. But the response. I got early on. I realized that because of the Indian elections we should not expect anything positive, but we were apprehensive that some incident would happen and Paloma happened. I felt that Mr. Modi's government used that to build this war hysteria. It could have gone anywhere once the jets bombed us, and we want them. So fortunately, it stopped. But I'm still apprehensive before the elections. I feel that the something happen Amy has anger in India over the pharma terror attack in February east off or is Mr Hun right to worry about another flare up during the Indian election period, the Indian missile strike at Bala coach was obviously a very significant event because it ended this long tradition of India's strategic restrain. Paint in the face of pug, sunny provocation and terror attacks believed to emanate from Pakistan in the past no matter what had happened, including the horrific Mumbai terror attacks in which one hundred sixty six people were killed in Porsche five star hotels and a two thousand one tack on the Indian parliament in. None of these cases to India turn to military retaliation, the situation is different now because prime minister Narendra Modi has really tried to adopt a much more muscular stance towards Pakistan. But the thing is that part of the reason that India was able to conduct this missile strike without triggering international. Outrage was because of the previous nearly two decades of serious strategic restraint. So as some commentators said India was kind of spending the political capital that had been accumulated by previous leaders. Now, I do not think given the current situation where I mean, the immediate crisis is over. There was an initial attack Mody said, we're not gonna take this anymore. And we're gonna teach you a lesson. There was a flare up of stability and the shooting down of the plane, but after the handing back of the captured Indian fighter pilot back to India and an immediate de-escalation. It looks to me and to most strategic analysts that the phase of hostilities is over and I don't think India could just all of a sudden out of a blue suddenly strike at Pakistan, again, the international community would react very strongly to that. India actually had support from the international community for doing it. There have been signaling from the United States that they would accept something like this. But that is only because they felt India had behaved so responsibly and with such restraint in the face of past provocations. So I don't think like suddenly out of the blue. We're gonna wake up and find that, you know, motive for some domestic political reasons without any provocation has launched a new attack on puck. Stan, However, I do feel and many fear that if there is some kind of next terror attack in India between now and the end of the election or even after the election that India has set a new threshold, and it will be really compelled and determined kind of react once again with military force, which could then lead to a whole 'nother cycle of esscalation on violence. So spy gunman came into power in August, two thousand eighteen we immediately resolved that you know, we cannot take the stance anymore where you have these armed groups in our country a legacy of the von jihad in the eighties. We cannot afford being blamed for any terrorist activity like Barama like what happened. So we've already cracked. Down on them. We all these dispensing the whole setup in a state. The monopoly of force arms has to be the state. You can't have groups operating here. Because whatever the reasons of creating the groups, and we know the militant groups were created to fight the jihad it makes no sense right now. So it's for our own self interest that we need to get it of the groups Stephanie Mr Hahn was insistent that he has done more than any other recent Pakistani leader to disband militant groups in Pakistan is this convincing. He has made an effort he has closed. A lot of the Madras says the schools he has shut down around two hundred of those. He has also arrested scores of people linked to terrorist groups, and we have seen this before from Pakistan. So the question is whether or not he'll be able to keep up the momentum. That is what everybody is watching and one. During about because in the past we've seen similar crackdowns only to scale back once the international pressure is off something that is encouraging though is that Pakistan is working to meet the condition set by the financial action task force which works to control and stop financing to terrorists. And this is something that is new for Pakistan, and it's designed to target financial flows to terrorist groups, and they were put on the grey list and in order to get off the grey list. They have to meet certain conditions, and they have made changes. However in a recent review fat of said, look, you're not doing enough. You know, the legislation may be there, but the action on the ground or an essence the enforcement of these new policies is not being done enough. So Pakistan wants to get off the grey list. They really want to bring investment in. In their economy is in dire straits. So hopefully, this provides enough pressure to see some reform in an area that has been a big issue the link this is a moment, but the dash mobile that India, the boy who blew himself up nineteen year old boy was a Kashmiri Indian boy, and he is better and said how he was radicalize. Some abuse by the security force. So it was it was an Indian boy Indian operation Indian car and then explosive why was Pakistan blamed Michigan says he doesn't have enough evidence to arrest Masud as head of the Pakistan based Jesse Mohammed. Does he have a point when he says the Paloma attack was planned and carried out in India itself, the Pam attack happened in Indian administered? Kashmir, the attacker is believed to be a local man, but the responsibility for the attack was claimed by j Muhammad which is a group operating in Pakistan, India handed over a dossier on Jewish Muhammad leader Masuda czar, prime minister controlled me, in our interview that he had the dossier, but still there was not enough evidence to bring the leader to court and in the absence of that he was doing all he could to crack down on terrorism in Pakistan and. He redirected blame to India and the security situation in Kashmir it's been

India Pakistan Narendra Modi Prime Minister Indian Parliament Amy Kazman Stephanie Mr Hahn Paloma South Asia Imran Khan Stephanie Finley Jets Stephanie Bureau Chief Cushman United States Mr Hun Mumbai
"financial action task force" Discussed on Unconfirmed

Unconfirmed

03:04 min | 3 years ago

"financial action task force" Discussed on Unconfirmed

"I don't think once inherently better than the other they serve different purposes and different uses. But it's not just that. We're lacking good decentralized credit scoring systems decentralized identity systems that makes. This way that we do things there's always the risk, even if you have a strong credit scoring system if somebody has their identities stolen than you would end up not lending to who you think you're lending to and what this ensures is as a lender. Even if the person who's borrowing acids from you has their keys stolen, her has aspects of their identity stolen. You're still not exposed to the risk of the person who's committed after fraud on the other end. And so now, let's dive into superfluid collateral. Like what how does that work? Exactly, walk us through an example. So one example for this would be looking at the the makeup of the maker dial clutter allies deposition kind of landscape right by the definition in the protocol. Today, you need to have a minimum of one hundred and fifty percents of the loan value in east locked collateral. If it drops below that your CDs at risk of liquid nation at thirteen percent penalty. Now thirteen percent penalties pretty bad. So a lot of people maintain these really really high like basically collateral to loan value ratios, and it's typically around three hundred percent on average across the system. So that means even in an overclouded I system twice as much collateral as strictly necessary is currently being locked up. So some Jane the critter instep proposed a system that they're building to actually pull the CD peas together and create almost like a giant CD where there are still essentially individual accounts within that, but any excess or a certain portion of the excess ethan's locked up would actually be deposited into compound and would be able to earn the supply APR essentially interest from being available through compound. But then whenever any the. The CPS got close to being danger of liquidation. The it could easily automats pull out that eath from compound and put it back into the CD to ensure it doesn't get liquidated. So that's the way where you would see a ethan's currently essentially deadweight loss in the Qasim is then instead made available to other people to borrow while still ensuring that the maker system doesn't take on significant additional risk by having under-collaterised piece. In a moment. We're gonna discuss more of the risks inherent in the system. But first a quick break from our fabulous servers ready or not the financial action task force anti money laundering recommendations soon, go into effect globally..

ethan fraud CPS Jane thirteen percent three hundred percent
"financial action task force" Discussed on FinTech Insider

FinTech Insider

04:16 min | 3 years ago

"financial action task force" Discussed on FinTech Insider

"As always unregulated recaptured. Does certainly seem like it's one of those issues that we're going to have to keep dealing with on the closeness of the banking industry to regulate. This does sound very familiar to the financial crisis. But it is of course, the challenge because you find former regulators want to get that big job, the the buying can make a lot more money. You find that the banks themselves are at the cutting edge and genuinely have the most information about what's really going on as well. So there's this constant double edged sword. It's a really challenging one. Those not like dansko bankers come out of this completely unscathed. Either. Even though there is this relationship that works both ways they've definitely suffered. As a result of the scandal. The share price hit five five year lows. They've issued most for profit warnings and ten people have been arrested by studying prosecutors on suspicion of helping clients transfers suspicious money through the Bank in a step systematic and coordinated manner. It was definitely something that seems pretty planned. It's certainly good to see at least something happening in that space. But then the scale of this two hundred billion is just still I watering large. I mean that is more than all of crypto that would build you four hundred hospitals that is an absolutely phenomenal sum of money. And I come back to the processes for how you prevent this still a piece of paper with questions like where did you get that money? I wouldn't gambling great. We follow the process, but it really encourages me. The financial action task force the global body that works with governments to manage AML risk as now moved from do we have a process to how effective is your process and you'll see them starting to lean on sovereign through the twenty to start to tweak that I think historically had been okay for a bike to say to a regulator up, but I have a process, but actually what that meant is the same old crappy process that was done in paper in which customers hated would get more. And more entrenched rather than somebody sort of saying actually, can we do this differently? Can we do something that's more secure? And the better experience is the Bank sang going to process, you Mr. regulator to follow this process because we're that powerful. That's the way it goes. I think that's I think that's kind of the the sentiment. I drew when I read read about this read about this news in particular feels to me, this is a hang on a minute. You know, they just too big too big to fail and all that sort of stuff. But actually, they say that this demanding of the regulators to allow them to to do what they will with their processes that. They've put in place, and I think that's that's coming out here a little bit, which is actually who who's in control. And I think that too big to fail. Absolutely. I mean to be to jail apparently not because of ten arrests. So far think sort of reminds me the end of the big short movie where the raiders have says. Then were under duress. And that was that was Justice everyone. And then actually it's like actually just joke. No, one got arrested pretty much to arrested, and they would build up by the taxpayer. Hopefully with the the rest we're seeing now then you will that accountability is not replication of what we saw the financial crisis. I think it's more question of. Accountability on what scale because we know that ten people have been arrested. But we don't know who they are dansko said they've identified forty two former employees that were possibly volved in it. But that you executive he just stood down. Now might be setting up another company probably going to get away scot-free manager stonier. I think he used to be. Head of international initials, head of international markets. He used to have oversight over the operations in Estonia before he became the gun for nine years or something. Right. So the amount of people would have had fingers in this guy is much more than ten people. It's weird. How falling on your sword. The we is seen as kind of almost honorable even committed massive or ledge to have committed massive crimes. It's really concerning to me though, that the solutions to this the doable. But historically, this has been seen as a compliance problem..

raiders Estonia executive five five year nine years