2022-4-5 10:12 |
The city-state'sTuesday passage of the law means such companies will have to meet anti-money laundering and anti-terrorism measures to which they were not previously subjected. origin »
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The US Department of Justice said on Thursday that BitMEX founders had entered a guilty plea to charges of violating the Bank Secrecy Act by failing to set in place an anti-money laundering system. Benjamin Delo and Arthur Hayes, two of the co-founders, have agreed to each pay a $10 million fine as part of […]
2022-2-25 11:00 | |
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Bipartisan senators present a bill to combat the risks facing America as a result of El Salvador’s Bitcoin Law. The bill highlights concerns over how it affects US sanctions and money laundering.
2022-2-21 23:41 | |
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Bitcoin is not a useful tool for money launderers and here’s proof. 38-years-old Larry Dean Harmon admitted to being the operator of Helix, a Bitcoin Mixer service that operated on the Darknet. According to the US Department of Justice, “Harmon advertised Helix to customers on the Darknet to conceal transactions from law enforcement.
2021-8-19 13:41 | |
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The European Commission has proposed legislation to “ensure full traceability of crypto-asset transfers, such as bitcoin,” in order to prevent and detect “their possible use for money laundering or terrorism financing.
2021-7-22 14:31 | |
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The Zimbabwean government recently revealed its intention to widen the definition of securities to include virtual asset service providers (VASPs). According to a document released by the cabinet, the proposed inclusion of VASPs into the category of defined securities will be made possible via the amendment of the Securities and Exchange Act. The Money Laundering […]
2021-7-20 13:00 | |
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A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds.
2021-6-11 09:30 | |
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Cryptocurrency exchange OKEx has announced it will be shutting down its South Korea operations amidst the implementation of strict anti-money laundering regulations in the country. OKEx says it’s not willing to comply with the new law Apart from the regulatory concerns, OKEx says the company took the winding down decision because the actual profit from […] The post New regulations forces OKEx South Korea to close operations appeared first on Invezz.
2021-3-25 12:58 | |
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In Mendoza, Argentina, law enforcement launched an investigation against a sports-related investment site for presumably being a bitcoin scam. Among the inquiries, authorities are investigating if they’re involved in money laundering and tax evasion.
2021-2-16 09:30 | |
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How distributed ledger technologies can help law enforcement agencies to fight crime and money laundering.
2020-12-20 11:09 | |
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Canadian brothers Firoz and Ferhan Patel are headed to prison after admitting their payments company had broken the law.
2020-11-14 21:25 | |
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The People’s Bank of China (PBoC), in coordination with law enforcement, has conducted a series of arrests as part of an ongoing crackdown on illegal online gambling sites. An announcement published on the central bank’s official WeChat channel on Thursday 22 Oct.
2020-10-23 16:00 | |
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Financial firms, government, and the private sector all see cryptocurrencies as risky, found a survey by the Royal United Services Institute think-tank and the Association of Anti-Money Laundering Specialists on Tuesday.
2020-10-1 19:37 | |
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According to a white paper by the law firm, most money laundering is committed...
The post Privacy coins are not a major laundering risk | Perkins Coie appeared first on Coin Journal.
2020-9-17 12:59 | |
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The world’s largest exchange keeps deepening its cooperation with law enforcement.
2020-8-19 16:00 | |
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Irish crypto firms will face stricter obligations after the country belatedly adopts the latest EU anti-money-laundering rules.
2020-8-13 12:55 | |
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Cellebrite, a digital intelligence firm has released a cryptocurrency transaction tracing tool called “Cellebrite Crypto Tracer,” which would help law enforcement agencies, businesses, and analysts to trace crypto transactions being used for any illicit activity such as money laundering, terrorism, drugs, human trafficking, weapon sales, and ransomware schemes. The firm has promised to offer its […]
2020-7-30 23:46 | |
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Chinese Police freeze crypto over the counter traders (OTC) accounts to investigate a possible incident of money laundering stains on some of the digital assets on exchanges. The abrupt halt in China’s biggest fiat on- and off- ramp gives sets in surveillance by the relevant law enforcement officers with locked users’ accounts needing an “approval […]
2020-6-9 19:02 | |
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New crypto laws are coming from the members of the Joint Chiefs of Global Tax Enforcement to prevent money laundering
2020-4-19 19:42 | |
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As each member of the European Union turns the fifth anti-money laundering directive (AMLD5) into law, some member states are going above and beyond what has been recommended. In Holland,...The post Dutch Bitcoin Companies Face Millions in “Unusual” AML Fees appeared first on Crypto Briefing.
2020-4-16 09:17 | |
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The Fifth Anti-Money Laundering Directive (AMLD5) will soon go into effect and it will inadvertently boost the cryptocurrency industry in the EU. Under the new directive, cryptocurrency-related companies will be treated like any other business.
2020-2-23 15:23 | |
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The Ukranian government has finalized a money laundering law for virtual assets and virtual asset service providers based on the recommendations put forward by FATF. Ukrainian legislative body Rada published the final version of the law on December 6th.
2019-12-8 19:05 | |
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Ukraine’s parliament approves a final version of a money laundering law that will handle virtual assets and virtual asset service providers per FATF guidelines
2019-12-7 03:45 | |
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Starting from 2020, German banks should be able to provide sale and custody services for cryptocurrencies. This is the result of a bill approved today by the Bundesrat, a state-level representative body often compared to the U.
2019-11-30 17:05 | |
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Cryptocurrencies might finally go hand in hand with traditional money services. Starting from 2020, it might be legal for German banks to sell cryptocurrencies like Bitcoin and provide custody solutions, local media reports.
2019-11-29 23:49 | |
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OneCoin’s lawyer, Mark S. Scott was found guilty of helping Co-Founder, Ruja Ignatova who remains at large, launder $400 million. As for his cut of the pie, news outlet, Coin Telegraph disclosed that it amounted to some $50 million.
2019-11-22 17:49 | |
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The US government is coming to grips with a firm but fair approach to cryptocurrency regulations. This was once again reiterated by Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN), saying cryptocurrency companies would be held by anti-money laundering law (AML) and be forced to share information about their clients.
2019-11-18 00:40 | |
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As the multi-billion dollar OneCoin cryptocurrency pyramid scheme continues to tumble, news of witnesses set to testify against the scam’s perpetrators are now coming to light. According to Finance Feeds, employees of the Bank of Ireland have been asked to testify in the case against Mark Scott, one of the alleged figureheads of the $3 billion-plus OneCoin scam.
2019-9-30 17:30 | |
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A 21-year old woman is due to appear in court for laundering millions of stolen funds in cryptos. The Australian Federal Police (AFP) and Australian Securities and Investments Commission (ASIC) have been conducting investigations into the multi-layered cybercrime activity for more than twelve months.
2019-9-18 18:47 | |
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Cryptocurrencies have the potential of revolutionizing the financial world soon. The only problem is that it is widely used for criminality and other illegal acts like drug trade and even human trafficking.
2019-9-9 21:05 | |
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The EU has specific laws and regulations regarding financial activity especially as they pertain to money laundering. However, it’s becoming increasingly clear that there’s a slight problem in the extent of the law regarding Bitcoin ATMs.
2019-7-17 18:38 | |
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The UK government is seeking to crack down on the use of crypto assets for money laundering or other illicit activities. To do so, the government has published the Economic Crime Plan, agreed between the Chancellor Philip Hammond, Home Secretary Sajid Javid, and heads of law enforcement, major financial institutions and legal, accountancy and property organisations.
2019-7-15 14:54 | |
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Spanish law enforcement says Bitcoin ATMs enable criminals to circumvent anti-money laundering (AML) regulations according to a report by Bloomberg. This statement comes following calls from officials in Canada for crypto cash machines to be banned over money-laundering concerns.
2019-7-13 01:00 | |
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In an effort by Spanish law enforcement agencies to nail a criminal gang that has been utilizing Bitcoin ATMs to send about $10 million to drug dealers in Colombia and other nations, has exposed the glaring loopholes that exist in the EU's anti-money laundering laws.
2019-7-12 00:59 | |
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People accused of counterfeiting banking cards and laundering the proceeds through bitcoin have been arrested by Spanish law enforcement
2019-6-14 17:14 | |
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A US man who sold narcotics on the dark web in exchange for Bitcoin has been sentenced to 10 years in federal prison. Tyler Reeves, who sold the drugs under the moniker “Platinum45,” was sentenced on Monday by by United States District Judge James V.
2019-6-13 12:34 | |
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The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs).
2019-6-1 19:04 | |
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The Dutch Financial Intelligence and Investigation Service (FIOD) has shut down cryptomixing site Bestmixer. io. According to local media, Dutch authorities moved to shut down the site on May 22, 2019, as part of a joint operation with police agencies from several European nations, including France, Latvia and Luxembourg.
2019-5-22 21:13 | |
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It looks as if cryptocurrency service providers will have to adopt stricter know-your-customer (KYC) policies all across the world — and not everyone is happy about that.
2019-5-13 21:33 | |
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Two Israeli citizens have been apprehended by law enforcement based on suspicions that they developed and ran a darknet marketplace for dealing illegal goods. The Israeli police announced via Twitter that it has collaborated with the United States Federal Bureau of Investigation (FBI) to arrest two locals who they believe managed the dark web marketplace, which used bitcoin to facilitate trades.
2019-5-8 18:42 | |
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Two Israeli citizens have been apprehended by law enforcement based on suspicions that they developed and ran a darknet marketplace for dealing illegal goods. The Israeli police announced via Twitter that it has collaborated with the United States Federal Bureau of Investigation (FBI) to arrest two locals who they believe managed the dark web marketplace, which used bitcoin to facilitate trades.
2019-5-8 18:42 | |
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Spanish law enforcement arrested eight people for allegedly operating a money laundering scheme involving cryptocurrencies
2019-5-8 17:37 | |
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Brazilian police arrested a man that was apparently running a crypto money laundering scheme in Brazil. The information was released by the local news site Gauchazh on April 23. As per the report, law enforcement officials shut down a Bitcoin (BTC) mining farm that operated in a clandestine drug laboratory in Porto Alegre. Suspect Arrested […]
2019-4-25 00:20 | |
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Brazilian police have arrested a man on suspicion that he was running a drug trafficking ring and laundering funds using Bitcoin. According to a local report, law enforcement officials found a clandestine drug laboratory containing Bitcoin mining equipment in Porto Alegre, in southern Brazil, and arrested the unnamed man yesterday.
2019-4-24 18:07 | |
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North Korea could pose a threat to countries across Southeast Asia as it looks to exploit cryptocurrency exchanges due to gaps in regulatory frameworks, according to a new report.
2019-4-25 17:04 | |
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Bitcoin trader Jacob Burrell Campos was sentenced on April 8, 2019, to serve a two-year prison sentence and to forfeit more than $800,000 “for operating an unlicensed money transmitting business.
2019-4-13 18:54 | |
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In yet another chapter in the QuadrigaCX episode, it has been revealed that QuadrigaCX’s late Co-founder, Gerald Cotten, was associated with Liberty Reserve, a centralized digital currency that was shut down by the United States’ law enforcement, back in 2013.
2019-4-11 17:00 | |
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The Finland-based, peer-to-peer cryptocurrency trading platform LocalBitcoins released a statement on March 25, 2019, responding to a new act approved by the Finnish Parliament that will require users to verify their identities.
2019-3-28 18:00 | |
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On March 25, 2019, international peer-to-peer (P2P) cryptocurrency exchange platform LocalBitcoins announced through a blog post that it would soon come under the purview of the anti-money laundering (AML) law supervised by the Financial Supervisory Authority (FSA) of Finland.
2019-3-26 18:00 | |
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An Israeli court ruled on March 17, 2019, that banks can't enforce a blanket ban against all accounts linked to cryptocurrency. Instead, the court said, banks need to consider the specific type and scope of crypto-related activity before determining whether or not to open an account.
2019-3-20 18:53 | |
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The Labour government said the bill will give owners of bitcoin and other digital assets greater legal protection.
U.K. Prime Minister Keir Starmer appointed Tulip Siddiq as the City Minister, a role that oversees financial services including crypto.
Taiwan's crypto advocacy body, the Taiwan Virtual Asset Service Provider Association, has been formally established and the founding meeting held with 24 cryptocurrency-related entities.
The exchange could return as a FIU-registered firm after paying the fine, the report added.
This is the third test for the Province's new tool to combat money laundering.
The Federal Reserve continues to pilot a central bank digital currency, but will not issue one without executive branch and Congressional support, the report said.
India's most controversial crypto tax, the 1% TDS levy deducted at source, should be lowered to 0.01%, according to the findings of a new study.