financial crime
IRS Expects Surge in Crypto Tax Crime Cases as Tax Season Concludes
The US Internal Revenue Service (IRS) is bracing for an increase in crypto tax crime cases as taxpayers file their returns on April 15. IRS criminal investigation chief Guy Ficco predicts a rise in charged Title 26 crypto cases this year and beyond. While crypto has been associated with various financial crimes in the past, Ficco anticipates a surge in "pure crypto tax crimes" in the future.
Hong Kong Authorities Unveil Measures to Combat Financial Crime
The Hong Kong Monetary Authority, Police Force, and Association of Banks introduce new measures to tackle fraud and money laundering, including expanded data use and enhanced bank collaboration.
Greece's Landmark Cryptocurrency Seizure Unveils Global Crime Links
Greece's first cryptocurrency seizure, aided by Chainalysis, recovers funds from the $1.5 billion Bybit hack, showcasing blockchain's role in combating global financial crime.
Chainalysis Unveils NCA Officer's Theft of Seized Bitcoin (BTC)
Chainalysis aided in exposing an NCA officer's theft of seized Bitcoin from Silk Road 2.0, showcasing blockchain's role in combating financial crime.
Zodia Custody's Sophie Bowler Discusses Compliance Challenges in Crypto
Sophie Bowler of Zodia Custody shares insights on financial crime prevention and compliance in the crypto sector, highlighting the role of blockchain analytics in enhancing security.
Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration
Tether rebuts a UN report accusing USDT of facilitating illicit activities, underscoring its traceability and law enforcement collaboration, and highlighting USDT's positive impact on developing economies.
EBA Issues Updated Guidelines for Crypto Asset Service Providers
The European Banking Authority (EBA) extends Anti-Money Laundering and Counter-Terrorist Financing measures to include crypto firms, aiming to harmonize regulatory approaches and mitigate financial crime risks in the EU.
BIS Advances Technology in Finance: Quantum, AI, and Green Initiatives for 2024
The Bank for International Settlements announces six innovative projects for 2024, focusing on quantum security, AI, and green finance, to enhance global financial system resilience.
Nasdaq Embraces AI to Spearhead Financial Crime Prevention
Nasdaq is investing heavily in AI technology to combat financial crime, strengthening its position as a technology-driven financial services company and addressing sophisticated financial crimes.
Why Regulated Banks Have Greater Potential For Financial Crime Than Bitcoin and Crypto
While agencies focus their attention on transparent Bitcoin transactions, banks have had an official free pass disclaimer to facilitate money laundering the entire time.
White House Budget Urges Legislation to Return Secret Service to Treasury Due to Crypto Crime Surge
Cryptocurrencies, and other technological advancements, projected as a threat to the international financial marketplace, the department believes has contributed to more groups of criminal organizations and more links between financial and electronic crimes combined.
Twitter Bitcoin Hack Demonstrates That Crypto Fraud is Easier to Track Than Fiat
Cryptocurrency regulation was the hot topic during an ongoing panel hosted by the Association of Certified Financial Crime Specialists.
Kaspersky Report: Bitcoin Crime to Rise in 2021 Due to Covid-19 Induced Poverty
According to a new Kaspersky report, the coronavirus pandemic will increase cases of crypto and Bitcoin crimes in 2021.
US Treasury Sanctions Two Men Accused of Laundering Crypto for North Korean Cyber Crime Syndicate
The US Treasury Department Office of Foreign Asset Control has sanctioned two men believed to involved in laundering stolen cryptocurrency from a 2018 cyberattack against a cryptocurrency exchange.
US Government Creates Cyber Fraud Task Force to Put an End to Crypto Crime
The US Secret Service is hoping to put an end to the increasing money-laundering cases that have erupted with the rise of COVID-19, by creating a special division, dubbed the Cyber Fraud Task Force (CFTF).
Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record
The Libra Association appointed Sterling Daines as its new Chief Compliance Officer, who is currently the Managing Director and Global Head of Financial Crime Compliance at Credit Suisse. He is expected to leave his position at Credit Suisse and join the Libra Association later this year. Prior to Credit Suisse, he was the Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs and has worked as a consultant to the US Department of Justice and the Financial Crimes Enforcement Network (FinCEN).
UK’s Financial Regulator Seeks to Hire Crypto Specialist to Spearhead Digital Asset Regulations
UK’s financial regulator has posted a job listing for a potential candidate with strong crypto knowledge. The recruitment could be an indication that the agency is set to provide higher degree of regulatory scrutiny of digital assets and possible abuses.
UN Agency Advises Kenya to Embrace Blockchain Technology to Tame Corruption
The United Nations Office of Drugs and Crime (UNODC) wants Kenya to embrace blockchain technology to fight runaway corruption.
Hong Kong Financial Watchdog Proposes Restricting Cryptocurrency Trading to Professional Investors
Hong Kong retail traders may be prohibited from trading cryptocurrencies if the city’s Financial Services and the Treasury Bureau’s proposed rule is approved.
Oxford Law Researchers Call for Strict Cryptocurrency Regulation to Avoid Another Financial Crisis
Researchers at Oxford University Law Faculty claim that crypto market regulation is mandatory to prevent systemic risk in times of financial crisis.
G7 Bank Sector Higher Money Laundering Risk than Crypto Industry, Reports Mexico Financial Intelligence
According to a report released by the Financial Intelligence Unit of Mexico, the G7 banking sector was most at risk of money laundering operations.