Category: Money Laundering
-
Mandatory KYC verification may contradict privacy laws in South Korea
Will this legal contradiction be resolved before the deadline?
-
Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble
Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by…
-
FinCEN leak suggests new AML measures may not go far enough… for banks
The leaked documents show many banks ‘enabling’ money laundering.
-
FATF hints at Binance as example of an exchange avoiding regulation
The FATF doesn’t seem to like frequent jurisdiction hoppers, notably Binance.
-
SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency
A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as…
-
‘Exclusive mining’ could have negative implications for the Blockchain industry, say experts
A new mining concept is facing criticism in the blockchain sphere.
-
US Hopes to Confiscate $400M: DoJ Files Forfeiture Judgment Against Onecoin Launderer
Prosecutors from the Southern District of New York (SDNY) court have submitted a “forfeiture money judgment” against the former attorney Mark Scott. The lawyer was charged with helping the Ponzi scheme Onecoin launder funds. The U.S. Department of Justice (DoJ) claims that Scott helped launder $400 million and the entity hopes to seize his current…