FINTRAIL produces a monthly summary of FinCrime regulatory changes and publications. This document covers:
Key updates from global and local regulators
Key updates from industry guidelines
Additional insights identified from financial intelligence units
July 2023
This month’s highlights include:
The International Monetary Fund (IMF) has published a report on taxing cryptocurrencies, examining challenges such as its quasi-anonymous nature, which facilitates tax evasion. The report suggests that current anti-money laundering rules are insufficient to stop tax evasion.
The Financial Conduct Authority (FCA) has released its annual report, which examines advancements against its three-year plan and key strategic objectives.
The US House Financial Services Committee approved two bi-partisan crypto regulatory framework bills. Both are seen as an important advancement for US crypto regulation.
Australia has established a new Anti-Scam Centre, which will coordinate an investment scam fusion cell to combat the growing problems of investment scams.
What other publications and regulatory changes caught your eye in July? If you are interested in speaking to the FINTRAIL team about any of the items in the REG-CAP, have any ideas for inclusion, or want to discuss any other financial crime topic, please get in touch: contact@fintrail.com