3 / 9 Relevant items tagged with #Moneylaundering

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French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation

[Aug 6 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 3:32 AM] As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.

Binance Executive's Health Deteriorates in Jail as Nigeria Money-Laundering Trial Proceeds

[Jul 2 9:38 AM] On Tuesday the cross-examination of the first witness from Nigeria's Securities and Exchange Commission was completed.

Tron Founder Justin Sun Wins Landmark Defamation Case Against Chinese Media Group

[Jun 27 5:20 AM] A court in China has ruled in favor of Justin Sun in his defamation lawsuit against the Chongqing Business Media Group. In its verdict, the court stated that claims of Sun’s involvement in insider trading, fraud, and money laundering were…

US Government Transfers $243 Million in Seized Bitcoin to Coinbase

[Jun 26 11:51 AM] On June 26, 2024, the U.S. government transferred 3,940 bitcoins, valued at $243 million, originating from a darknet market dealer. This batch of BTC was directed to an exchange address tagged as Coinbase. U.S. Law Enforcement Moves 3,940 Bitcoin…

Banking Sector Poses Highest Money Laundering Risk, Singapore’s Central Bank Says

[Jun 23 5:16 PM] According to the Money Laundering Risk Assessment Report by Singapore’s central bank, the banking sector is identified as the highest money laundering risk to the country. The report also highlights risks related to digital assets and…

Binance exec legal battle escalates amid US-Nigeria tug of war

[Jun 21 1:08 AM] In a statement to the press, Gambaryan’s wife expressed her confusion about why the Economic and Financial Crimes Commission will not release her husband after a court cleared him of tax evasion charges.

Federal Agents Crack Down on Drug Ring Using Crypto Mixers

[Jun 20 10:24 PM] Holly Danielle Adams, 34, from California, has pleaded guilty to charges of drug distribution conspiracy and money laundering via cryptocurrency mixers. This case stems from an investigation by the Northern California Illicit Digital Economy…

Indian Authority Uncovers Large-Scale Crypto and Hawala Operation, Arrests Key Player

[Jun 20 7:34 PM] India’s Directorate of Enforcement (ED) has arrested Manideep Mago under the Prevention of Money Laundering Act (PMLA), 2002, in connection with an “illegal foreign remittances case” involving cryptocurrency. The investigation…

Singapore flags digital payment tokens as high-risk in AML landscape

[Jun 20 5:13 AM] Singapore said digital payment token service providers, also known as virtual asset service providers, stand out as a high-risk category within the financial sector.

Chinese court sentences gang for money laundering using digital yuan

[Jun 13 11:17 AM] The Chinese CBDC’s “controllable anonymity” seems to be very highly controlled.

DOJ and FBI Unveil Charges Against 3 UK Nationals in NFT Rug Pull Scam

[Jun 10 4:10 PM] The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development…

Bitcoin is no ‘silver bullet’ for money’s ethical problems

[Jun 10 7:31 AM] Both Bitcoin and fiat currency are often in the firing line over ethical concerns, with a dedicated group of defenders and critics.

Nigeria defends Binance exec prosecution amid US lawmakers’ criticism

[Jun 6 1:12 AM] The minister assured that Binance had received appropriate consular access from the U.S. and all due care, following standard diplomatic protocols and the rule of law.