Irish regulator spots poor AML checks at online businesses

By Irene Madongo (July 12, 2022, 14:37 BST) – The Central Bank of Ireland has urged digital asset firms to tighten their controls against financial crime after its review of registration applications found poor compliance , and said the area would be subject to a levy.

The watchdog said on Monday it found a large majority of applications showed a lack of understanding and compliance with key anti-money laundering and counter-terrorist financing obligations, as well as significant weaknesses. in their controls. The central bank did not disclose the number of requests it had received.

She added that a significant number of claimants were unable to prove that they…

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