A Cost-Effective Way to Comply with Worldwide Regulations IdentityMind offers a full Anti-Money Laundering (AML) program enabling Banks, Money Services Businesses, and Money Transmitters to meet U.S.(FinCEN) and worldwide regulations.IDMRisk offers a full Anti-Money Laundering (AML) program enabling virtual currency companies, including Bitcoin Exchanges, to meet U.S.Our AML program provides you with a fully integrated suite combining professional services and technology to help you: Protect your business against Money Laundering: you can now apply strict customer identification verification and implement automated transaction monitoring policies and procedures.Establish important banking partnerships: to grow and thrive as a trusted company in the virtual currency world, you need support from traditional banks and financial institutions.Our AML program will offer you the protection, processes, visibility and reporting you need to build and maintain these partnerships.Save money and time: our highly automated AML program ensures you receive the best quality product at a reasonable price.

You receive the best professional services coupled with advanced technology.The turn-key AML program you need to establish strategic banking partnerships.Strong protection against Money Laundering Know if the personal information presented by your customer matches the data captured from the transaction, or other information available on public and private databases.Automatically detect the most sophisticated money laundering schemes, and find signs of suspicious activity.We’ve put years of experience in the Anti-Money Laundering field and superior technology, at your service.Multiple Options for Identity Verification IMDRisk's proprietary eDNA technology matches all the parameters captured from a transaction to find any suspicious signs of identity theft.Our platform builds complete electronic identities, combining personal information entered by users at the moment of registration (name, address, email, phone, ID numbers, etc.), with other parameters captured in the online transaction (IP Geolocation, device information)
.You can have further verification, if your business requires stronger authentication, such as: risk associated with a specific phone number or address; probability to contact the user based on some of their personal information; matching of customer's personal information against public & private databases (billing records of major Telecom companies, public records, public subscriber databases).

Automated Transaction Monitoring We help you create the rules needed to monitor your transactions, and our platform enforces them automatically – analyzing your transactions in real time, or over specific periods of time, to detect money movements that could be associated with laundering activity.best litecoin gpu 2014Regulatory Protection you Need to Partner and Grow The U.S.aktienkurse bitcoinTreasury Department Financial Crimes Enforcement Network (FinCEN) has provided guidance twice this year alone on requiring virtual currency exchanges to follow some of the same regulations that apply to traditional financial institutions.bitcoin pool githubAny company looking to partner with financial institutions will need to ensure AML regulation compliance.litecoin suggested difficulty

IDMRisk ensures you with regulation piece of mind.Technology that ensures you an efficient and cost effective solution Our program is the most cost effective way for you to establish a full AML program.bitcoin italian foundationIdentityMind supplements the manual processes associated with any AML program, with automation and advanced technology.raspberry pi bitcoin nodeTechnology provides you with an efficient AML solution with visibility deeper into consumer verification than ever before.The depth ensures you protect your business against money laundering and meet regulation requirements.See how our groundbreaking IGNITE program has accelerated the launch of over 20 bitcoin and virtual currency start ups.The UK Treasury has said that it won’t seek to impose anti-money laundering (AML) rules on digital currency wallet providers in a bid to avoid overburdening those services.

The remarks were issued last week in a report that detailed the UK government's plans to tackle money laundering and terrorist financing risks more broadly.According to the report, the UK Treasury plans to bring digital currency exchange firms "into anti-money laundering regulation", reinforcing plans first announced last year.However, an outstanding question at the time related to whether these rules would extend to wallet services that do not offer fiat-to-digital exchange functionality.According to the new report, these companies will not have to face those kinds of requirements "This [focus on exchanges] is consistent with a risk-based approach, and we note that extending the perimeter of anti-money laundering regulations beyond digital currency exchange firms (eg to wallet providers) would not deliver any benefits in terms of mitigating money laundering and terrorist finance risk, and would place significant burdens on firms in this innovative and embryonic sector.” Put more simply, the government appears to be taking the position that AML rules won’t be levied on other firms working in the digital currency space beyond wallet services, as well.

The report goes on to note that, following a review of feedback from law enforcement, academic and government sources, evidence points to "a low level of illicit activity in digital currency networks" – a possible factor in the regulatory approach outlined.The government said in the report that it will also encourage information sharing among agencies, a process that would include exchanging data on "new forms of transactions such as online banking and virtual currencies".According to the report, the government plans to overhaul its approach to anti-money laundering oversight over the next two years.UK Treasury image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.WASHINGTON — Bitcoin is property, not money, a Florida judge ruled Monday in a criminal case against a man accused of money laundering and unlicensed money transmission.The decision throws out the anti-money-laundering charges against Michell Espinoza, who was arrested after agreeing to sell $30,000 to an undercover detective who declared he would use it in an illegal credit card scheme."The

Florida legislature may choose to adopt statutes regulating virtual currency in the future," Miami-Dade Circuit Judge Teresa Mary Pooler said, in a ruling that has vindicated virtual currency groups nationwide."At this time, however, attempting to fit the sale of bitcoin into a statutory scheme regulating money services businesses is like fitting a square peg in a round hole."TheArias was inspired to pursue the sting operation after attending a U.S.Secret Service meeting on virtual currencies, which "intrigued" him, he said in a deposition.After purchasing bitcoin from Espinoza on three occasions, the detective asked to purchase $30,000 worth of virtual currency.Though the transaction was never concluded, Espinoza was arrested and charged of money laundering and operating an unlicensed money-services business.But in her ruling, Pooler dismissed all charges, arguing that Florida's statutes on money laundering and money transmission could not apply to bitcoin without further clarifications.

The state did not have a compelling-enough case based on current statutes, the judge said.She ruled that Espinoza had not engaged in money transmission because there was no third party involved."Thedefendant did not receive currency for the purpose of transmitting same to a third party," Pooler said.As a result, she added, Espinoza did not engage in the same type of transaction as a company like Western Union, which "takes money from person A, and at the direction of person A, transmits it to person B or entity B."Espinoza,moreover, did not charge a fee for the transaction, instead making money on a 15% spread between his buying and selling price for bitcoin."Thedefendant solely made a profit," she said, by "selling his personal property."Moreover,Pooler struck down the state's contention that Espinoza could have acted as an unregulated "payment instrument seller" by citing the IRS's own categorization of bitcoin as property.As a result, she said, bitcoin could not be defined as a "payment instrument" such as a check, warrant and money order.Pooler also struck down money laundering charges, concluding that the sale of bitcoin could not be categorized as a "financial transaction."Moreover,

she added, Espinoza had not participated in laundering funds that had been obtained illegally, because in the detective's representation the purchase of credit card information had not taken place yet."Thiscourt is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning," Pooler said.The ruling has been viewed as a victory for virtual currency groups who have condemned the murkiness of state rules as an obstacle in the fledgling industry."She'stelling the state of Florida, 'Hey, listen, your laws are way too vague,' " said Andrew Ittleman, the founder and partner of Fuerst Ittleman David & Joseph."Clarify them and come back to me with a better case and we'll see what this does."Espinoza'sattorney Rene Palomino, agreed, saying the ruling posed a challenge to state lawmakers."You can't use currency statutes that we have and apply [them] to bitcoin.