Post
Topic
Board Service Discussion
Re: MtGox gross incompetence with handling sensitive (and expensive) AML information
by
davout
on 17/10/2012, 18:27:19 UTC
Also, the AML rules are not their own, they have to follow the standard of both Japan and the USA (Japan being much more strict) but it allows them to stay operationally legal in both jurisdictions.
Financial institutions have to comply with the AML regulations through the implementation of KYC procedures.
mtgox is a financial institution only in the imagination of mark karpeles.