8 / 9 Relevant items tagged with #Moneylaundering
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Blockchain Association files brief in Tornado Cash case
[Apr 12, 2023 2:40 PM] The advocacy group was joined by the DeFi Education Fund in arguing that the crypto mixer has important social functions and OFAC could set a dangerous precedent.
EU-Funded Report Calls for Crypto ID Checks, Police Training to Combat Darknet Markets
[Apr 12, 2023 2:48 AM] Law enforcement can learn how to track illicit activity, but outright crypto bans aren’t effective, a report commissioned by the EU's monitoring body for drugs concluded.
South Korean Prosecutors Uncover Alleged $314 Million Criminal Proceeds Tied to Terraform Labs Co-Founders
US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto
[Apr 6, 2023 1:30 PM] The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to…
North Korea and criminals are using DeFi services for money laundering — US Treasury
[Apr 6, 2023 9:12 AM] Despite the warnings on DeFi, the Treasury noted that “most money laundering, terrorist financing, and proliferation financing” occurred using fiat or outside the crypto ecosystem.
European Banking Regulator Calls Attention to Digital Ledger Technology
[Mar 29, 2023 4:04 AM] Draft guidance from the EU banking watchdog picks out crypto technology for scrutiny and proposes vetting procedures for senior staff.
North Korean hackers using stolen crypto to mine more crypto via cloud services: Report
[Mar 28, 2023 3:33 PM] Cybersecurity firm Mandiant has “graduated” a new group of hackers who finance state goals and their own existence with the help of crypto laundering.
French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud
[Mar 28, 2023 1:00 PM] On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According…
Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials
[Mar 28, 2023 11:30 AM] Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government…
EU Lawmakers Vote in Favor of Payment Limits on Anonymous Crypto Wallets
[Mar 28, 2023 5:58 AM] Crypto rules form part of a money-laundering overhaul supported by the European Parliament Committees
National Exchanges Reportedly Pause Operations in Venezuela, as Attorney General Confirms Crypto Watchdog Sunacrip Involvement in Oil Sale Schemes
[Mar 28, 2023 5:30 AM] National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney…
EU Money Laundering Law Won’t Prevent Crypto Payments, Lead Lawmaker Says
[Mar 28, 2023 2:53 AM] The new legislation, which will be put to vote on Tuesday, is set to impose new restrictions on transactions from self-hosted wallets.
Arrested Bitzlato Exchange Founder Seeks Help From Crypto Community
[Mar 26, 2023 4:30 PM] The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed…
Crypto Exchange Bitzlato Restores User Access to Half of Bitcoin Balances, Report
[Mar 22, 2023 12:30 AM] Bitzlato users can now partially withdraw their bitcoin funds from the dismantled cryptocurrency exchange, according to a media report. The Russia-linked trading platform was targeted by Western law enforcement and had its France-based server…
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011
[Mar 21, 2023 2:00 PM] Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $16.7…
Founder of Crypto Exchange Bitzlato Denies US Charges
[Mar 16, 2023 2:30 AM] The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over…
US Justice Department announces charges in connection with ChipMixer takedown
[Mar 15, 2023 12:30 PM] Minh Quốc Nguyễn, a resident of Hanoi, Vietnam, has been charged in Philadelphia with a number of offenses as the operator of ChipMixer.
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
[Mar 15, 2023 12:00 PM] On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day…
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse
[Mar 14, 2023 8:00 AM] The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from…
Banks with crypto services require new Anti-Money Laundering capabilities
[Mar 9, 2023 8:41 AM] Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions.
Tornado Cash dev says 'sequel' to crypto mixer aims to be regulator-friendly
[Mar 6, 2023 8:19 PM] Soleimani explained that the “critical flaw” with Tornado Cash is that users cannot prove that they’re not associated with a criminal enterprise stealing or laundering crypto funds.
Crypto Exchange Bitzlato Restores Access to User Funds
[Mar 3, 2023 6:30 AM] Russia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging…
Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations
[Feb 28, 2023 1:36 PM] Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably…
BitFlyer founder seeks to reinstate self as CEO, leading firm to IPO: Report
[Feb 27, 2023 12:07 AM] Despite stepping down as CEO three years ago, Yuzo Kano has continued to have a significant influence on the company, given he’s the Japan-based crypto exchange’s largest stakeholder.
US May Consider Alexander Vinnik for Prisoner Exchange With Russia, Lawyer Says
[Feb 23, 2023 10:30 PM] Crypto exchange BTC-e’s alleged operator Alexander Vinnik may be a candidate for prisoner swap between the United States and Russia. That’s according to a statement by one of his lawyers for Russian media. The latest court hearing in Vinnik’s case
Sam Bankman-Fried Charged With New Crimes As Prosecutors Detail Illegal Political Deals
[Feb 23, 2023 5:22 PM] Bankman-Fried’s charges have been expanded in the latest indictment brought forth by federal prosecutors.Federal prosecutors have announced a new indictment of Sam Bankman-Fried with four additional criminal charges.The document alleging these new…
Former FTX CEO Sam Bankman-Fried Faces New Charges in Multi-Billion Dollar Fraud Case
[Feb 23, 2023 9:15 AM] Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4…
Onecoin Cryptoqueen’s Ex-boyfriend Gets 5 Years in Prison
[Feb 18, 2023 3:30 PM] A former boyfriend of Ruja Ignatova, the mastermind of the Ponzi scheme Onecoin, has received five years in prison. The sentence is for the laundering of hundreds of millions of dollars’ worth of proceeds from the notorious crypto scam which…
Report: Former FTX Director of Engineering Nishad Singh Negotiating Plea Deal with Prosecutors
[Feb 17, 2023 6:30 PM] Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter…