3 / 10 Relevant items tagged with #MoneyLaundering
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Man allegedly tries to ‘recover’ losses from BitConnect, kidnapping two
[Aug 19, 2024 2:10 AM] Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
Indian Authority Arrests Man in Crypto Extortion Case
[Aug 18, 2024 2:30 AM] A Gujarat-based man, Shailesh Babulal Bhatt, was arrested under the anti-money laundering law in connection with kidnapping and extortion cases, including a significant cryptocurrency-related crime exceeding Rs 1,200 crore ($144 million), according…
Nigeria Seizes $37.5M in Digital Assets After Court Grants Freezing Order
[Aug 16, 2024 6:30 PM] The Nigerian government has seized approximately $37.5 million in digital assets from the organizers of the Endbadgovernance protests. The funds were frozen by a court order based on a claim by the Economic and Financial Crimes Commission, which…
7 Indicted in $300,000 Queens Bitcoin Theft, Say Prosecutors
[Aug 14, 2024 11:20 AM] Seven individuals have been indicted for stealing over $300,000 in bitcoin from a Queens resident. The charges against them include grand larceny, money laundering, and identity theft, stemming from a lengthy investigation into a cryptocurrency…
Gambaryan Family Says Binance Executive Is Being Denied Access to Lawyers, Health Is Deteriorating
[Aug 12, 2024 11:20 AM] American Binance executive Tigran Gambaryan, who is detained in Nigeria, is being "denied adequate access to his legal team and his health is deteriorating rapidly," his family said in an emailed statement.
Tornado Cash dev Alexey Pertsev seeks more funding for legal appeal
[Aug 11, 2024 10:08 AM] Pertsev’s case is a pivotal moment for the crypto community and advocates of digital privacy.
Queens Bitcoin Heist: Seven Charged With Grand Larceny and Money Laundering
[Aug 11, 2024 3:30 AM] Seven individuals have reportedly been indicted on charges of grand larceny, money laundering, and identity theft for stealing $300,000 in bitcoin from a Queens auto body shop owner. The victim’s 5.75 BTC, originally valued at $92,000, was…
OKX Takes Action: Accounts Involving Tornado Cash To Be Banned
[Aug 9, 2024 9:30 PM] The cryptocurrency exchange OKX has announced a firm policy banning accounts linked to the questionable mixing service Tornado Cash in an attempt to prevent illicit activity and promote compliance with international laws. According to OKX CEO Star…
Irish Authorities Seize $7.1M in Cryptocurrency Amid Darknet Money Laundering Bust
[Aug 9, 2024 5:30 AM] Irish authorities seized $7.1 million in cryptocurrency in a raid targeting money laundering and darknet sales. Three individuals were arrested, with one remaining in custody. “The arrests of the three individuals and the assets seized are…
Crypto-Friendly Bank Ordered by Fed to Limit Risks From Digital Asset Clients
[Aug 8, 2024 5:03 PM] Customers Bank, which has done business with several of the most prominent crypto firms, has been called out by the U.S. Federal Reserve for inadequately policing illicit activity, particularly with digital asset clients.
Crypto coalition calls for ‘clear rules of the road’ from Biden, Harris
[Aug 8, 2024 1:22 AM] Some of the CMIC members in support of the letter include Robinhood, BitGo, OKX, Gemini, Chainalysis, Elliptic, TRM, Kaiko and Matrixport.
French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation
[Aug 6, 2024 1:30 AM] The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This…
New Senate Bill Empowers US Secret Service to Combat Digital Asset Cybercrimes
[Aug 5, 2024 12:30 AM] U.S. senators have introduced legislation to empower the Secret Service to combat cybercrimes involving digital assets. This legislation addresses the growing use of cryptocurrencies for illicit activities and mandates the Government Accountability…
Swiss regulator FINMA targets stablecoin issuers in new proposal
[Jul 28, 2024 1:19 AM] As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions.
FINMA Warns Stablecoins Threaten Swiss Financial Reputation
[Jul 27, 2024 8:40 PM] The Swiss regulator, the Financial Market Supervisory Authority (FINMA), recently published guidance on the issuance of stablecoins. The regulator says stablecoins are not only associated with money laundering risks but pose reputational risks for…
Coinbase's CBPL Fined $4.5M by UK Regulator for Lapses in Onboarding Controls
[Jul 25, 2024 5:40 AM] Despite the restrictions in place, CBPL onboarded and/or provided e-money services to 13,416 high-risk customers, the Financial Conduct Authority said.
Bill targeting illicit use of crypto passes US House
[Jul 23, 2024 1:35 PM] The Financial Technology Protection Act passed the House of Representatives by voice vote roughly a year after lawmakers sent it out of committee.
U.S. House Passes Crypto Illicit Finance Bill That's Likely to be Rebuffed in Senate
[Jul 22, 2024 3:52 PM] The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn't likely to…
WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
[Jul 18, 2024 11:11 PM] Blockchain security firms say bad actors typically move altcoins into Ether to prepare for laundering, as the native token has no built-in means to get frozen.
Venezuelan Crime Organization Tren De Aragua Gets Sanctioned by OFAC on Crypto Money Laundering Allegations
[Jul 18, 2024 2:30 PM] Tren de Aragua (Aragua’s Train), a criminal gang with Venezuelan origins, has been sanctioned by OFAC as a transnational organization engaging in kidnapping, human trafficking, extortion, and other illegal behavior. The U.S. Department of the…
Nigerian prison doctor detained over Binance executive’s health concerns
[Jul 17, 2024 2:05 AM] Gambaryan’s family has expressed concern about his well-being and appealed to the EFCC to release him and pursue its investigation into Binance instead.
Rising crypto crimes in Australia prompt call for tougher regulations
[Jul 15, 2024 12:46 AM] AUSTRAC's latest report highlights a rise in criminal use of cryptocurrencies, urging stricter regulations and international cooperation to combat money laundering.
Chainalysis: $100 Billion in Illicit Crypto Funds Traced Since 2019
[Jul 13, 2024 5:16 AM] Crypto analytics firm Chainalysis has previewed an in-depth report on money laundering within the crypto space, providing insights into tracing illicit funds and advanced identification techniques. The firm discovered that since 2019, nearly $100…
Traditional Money Launderers Appear to Be Using Crypto, Chainalysis Says
[Jul 12, 2024 9:31 AM] The crypto tracing company's latest report shines a light on potential money laundering.
How law enforcement struggles with sophisticated crypto laundering
[Jul 11, 2024 8:03 AM] Advanced crypto laundering techniques continue to challenge law enforcement and crypto-related services, as highlighted in a new Chainalysis report on money laundering.
BitMEX expects ‘no further fines’ for ‘old’ AML violation in US
[Jul 11, 2024 1:23 AM] BitMEX addresses the DOJ’s BSA charge as a past issue, highlighting their compliance improvements and founders’ prior penalties.
Elliptic exposes $11B scam network via Huione Guarantee
[Jul 10, 2024 3:39 AM] Elliptic’s report reveals how the Huione Guarantee marketplace facilitated massive money laundering and cyber scams using Tether (USDT) transactions.
Paxful co-founder Schaback faces 5 years jail, admits AML failure
[Jul 9, 2024 12:12 AM] Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years.
Binance vs Nigeria: A timeline of events
[Jul 5, 2024 3:32 AM] As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.