Tag: Laundering

CEO’s $4 Million Crypto Laundering Could Lead to 127 Years in Jail

Martin Mizrahi, CEO of a Las Vegas internet service provider, faces a potential 127-year prison term. Convicted on charges of wire fraud, money...

Why New European Money Laundering Rules Bode Ill for Crypto

The European Parliament and the European Council have agreed to set up a new Anti-Money Laundering Authority in Frankfurt. The decision came following...

US Dollar Outpaces Crypto in Money Laundering: US Treasury

According to the United States Treasury Department, traditional cash transactions are the preferred medium over crypto for criminal organizations engaging in money laundering...

Taiwan Cracks Down on Crypto Money Laundering Ring

Taiwan authorities have uncovered the largest money laundering network in the region, processing USDT transactions worth more than $320 million. While some allege that...

Crypto Money Laundering Is Rapidly Surpassing Predictions

Crypto risk management firm Elliptic revealed the total amount of illicit funds laundered through decentralized exchanges (DEXs), cross-chain bridges and coin swap services...

FCA Fines Investment Firm $7.8 Million for Anti-Money Laundering Failures

The UK Financial Conduct Authority (FCA), which has been taking aggressive steps to clarify and enforce the rules of the road for asset...

Is Blockchain Scoring Enough to Stop Money Laundering?

A hack of CoinsPaid, the world’s largest crypto payments provider, was the result of six months of stealthy moves by the Lazarus Group,...

FATF Urges Global Crypto Action to Curb Money Laundering

The third Financial Action Task Force (FATF) Plenary emphasized the necessity of group efforts to address proliferation, terrorism financing, and money laundering. During...

Qatar Crypto Money Laundering Efforts Fall Short

The Financial Action Task Force (FTAF) has criticized Qatar for its inadequate response to crypto money laundering and terrorist financing. Despite banning virtual...

EU Opens Crypto Money Laundering Consultation

The European Banking Authority (EBA) is seeking public input on proposed amendments to its anti-crypto money laundering guidelines, focusing on including crypto-asset service...

Derivatives Exchange BKEX Faces Money Laundering Probe

BKEX, a British Virgin Islands (BVI) exchange with alleged Binance links, is cooperating with law enforcement to investigate user funds allegedly linked with...

Compliance Professionals Fear Rising Crypto Money Laundering

A survey has revealed that 70% of compliance officers feel that crypto money laundering is becoming a major threat, and they feel only...

Signature Bank Faces Allegation of Money Laundering

U.S. regulators are reportedly investigating the crypto-friendly Signature Bank for money laundering. But is it the latest development in operation Choke Point? According to...

Tether Used Account Involved in Terrorist Money Laundering: WSJ

A new report by the Wall Street Journal alleges that Tether accessed global banking accounts through crypto firms that used fraudulent documents and...

Law Enforcement Alert to Rising Crypto Money Laundering

Until the advent of cryptocurrencies, “cleaning” illicit funds was a much more complex process. In recent years, crypto money laundering has made it...

Silvergate Bank Caught Up in Money Laundering Probe by DOJ

Silvergate Bank, the crypto lender that recently received a $200 million investment from Peter Thiel’s Founders Fund, is under investigation by the United...