Search Results for "money laundering"
UK FCA Regulator Proposes Mandatory AML Data Reports from Cryptocurrency Firms
The United Kingdom’s Financial Conduct Authority (FCA) has proposed obligatory AML reporting requirements for crypto exchanges.
Honduras Imposes Crypto Trading Ban Amid Fraud and Laundering Concerns
Honduras' CNBS regulator bans cryptocurrency transactions within financial institutions due to fraud, money laundering, and regulatory inability to regulate multi-jurisdictional digital platforms amid global debate.
$4B Co-founder Of OneCoin Fraud Pleads Guilty, Faces 60 Years In Prison
Karl Sebastian Greenwood, who was one of the co-founders of the fraudulent cryptocurrency scam OneCoin that included several billions of dollars, has entered a guilty plea to numerous counts brought up by the United States Department of Justice. The sentencing hearing for Greenwood is scheduled to take place in front of District Judge Edgardo Ramos on April 5, 2023. He may get a term of up to 60 years in prison at that time.
Russian National Extradited to the U.S. to Face Crypto Money Laundering Charges
Alexander Vinnik, a Russian national accused of running an illegal crypto exchange BTC-e was extradited to the United States to face fraud charges.
Taiwan's ACE Exchange Founder and Associates Face 20-Year Prison Sentences in Fraud and Money Laundering Case
Taiwan's prosecutors are recommending 20-year prison sentences for four suspects, including ACE Exchange founder David Pan, in a fraud and money laundering case involving the cryptocurrency trading platform. The case, which involved 32 individuals, resulted in over 1,200 victims and an estimated loss of 800 million New Taiwan dollars ($24.56 million).
Bitcoin of America indicted for operating unlicensed kiosks
Bitcoin of America, a Bitcoin technology firm, along with three of its executives, has been indicted for allegedly operating more than 50 unlicensed crypto kiosks in Ohio that knowingly benefited from victims of cryptocurrency scams. The firm is facing charges of money laundering, conspiracy, and other crimes connected to the operation of the kiosks, which authorities believe have been operating and evading regulatory safeguards and financial compliance requirements since 2018.
Binance Reportedly Faces Investigations from Top US Federal Agencies
The IRS and the DOJ are reportedly probing Binance over tax and money laundering offences.
Binance Debunks Claims Exchange Aided Money Laundering
Crypto exchange Binance denied all allegations of facilitating around $2.4 billion in illicit funds from world-acclaimed criminal organizations like Lazarus Group and Hydra.
Bulgarian Authorities Accuse Four Persons After Nexo Office Raid
The Sofia Nexo raid resulted in four charges. Nexo lets investors borrow and stake crypto. The UK, Bulgaria, and Switzerland-based corporation does not serve Bulgarians. Nexo announced its US service phaseout in December.
China Dismantles $2.2 Billion Underground Banking Operation Leveraging Cryptocurrencies
Chinese authorities have dismantled a $2.2 billion underground banking network that used cryptocurrencies to bypass financial controls, seizing $28,000 worth of digital currencies.
Hackers Launder $27 Million in Stolen Ethereum From North Korean
North Korean exploiters laundering June 2022 Harmony Bridge assault funding.
Spanish Authorities Arrest Bitzlato Exchange Executives for Money Laundering
On Jan. 18, 2023, police enforcement closed Bitzlato.