Money Laundering

CoinFlash

Philippines Issues Crypto Industry Guidelines to Guard Against Money Laundering

New guidelines bring the nation's digital asset industry in line with Financial Action Task Force standards.

Policy & regulation  ·  26 January 2021
Exchanges

Owner of Crypto Exchange RG Coins Gets 10 Years in Prison for Laundering $5M

The 53-year-old Bulgarian national was convicted for laundering funds via cryptocurrency for a fake online auctions gang.

Policy & regulation  ·  13 January 2021
Exchanges

US Man Admits Using Bitcoin to Help Launder $630K From Romance, Lottery Scams

Austin Nedved pleaded guilty to involvement in scams that reaped over $600,000 by targeting the elderly and vulnerable.

News  ·  18 December 2020
CoinFlash

Over 13% of Bitcoin Crime Proceeds Laundered Through ‘Privacy Wallets’: Elliptic

The number of crypto criminals using so-called privacy wallets to help hide their identities is on the rise, according to analytics firm Elliptic.

Policy & regulation  ·  9 December 2020
Money Laundering

Payza Founders Sentenced in $250M Money Laundering Case

Canadian brothers Firoz and Ferhan Patel are headed to prison after admitting their payments company had broken the law.

News  ·  13 November 2020
CoinFlash

US Charges 6 With Laundering Mexican Drug Cartel Cash Using Crypto and Casinos

The U.S. Department of Justice charged the six individuals with alleged involvement in laundering funds from Mexican drug cartels after an investigation spanning years.

News  ·  16 October 2020
CoinFlash

Authorities Arrest 20 Suspected of Ties to Russian Rapper’s Alleged Money Laundering Syndicate

Authorities accuse QQAAZZ of mounting a laundering-as-a-service operation for the criminal underworld.

News  ·  15 October 2020
CoinFlash

New Zealand Man Charged With Money Laundering via Crypto and Luxury Cars

As well as making cryptocurrency transactions, the man is alleged to have bought luxury cars and property to launder funds.

News  ·  15 October 2020
Money Laundering

The FinCEN Files Show Banks Don’t Actually Care About Stopping Money Laundering

The massive leak of suspicious activity reports shows how banks let the government know about likely money laundering, then go right on providing services.

People  ·  21 September 2020
CoinFlash

US Moves to Seize $400M From Convicted OneCoin Money Launderer

The U.S. Department of Justice wants an attorney to hand over the massive sum he helped launder for the OneCoin scheme.

Policy & regulation  ·  2 September 2020
CoinFlash

Binance Credited With Helping Take Down Ukraine Crypto Laundering Group

Binance began pouring more resources into its data analysis and laundering detection capabilities earlier this year.

News  ·  18 August 2020
Money Laundering

US Prosecutors Seize Bitcoin Allegedly Tied to Al Qaeda, ISIS, Hamas

The U.S. Department of Justice is trying to seize bitcoin from 155 addresses it alleges were used by Al Qaeda to fund terrorism.

Policy & regulation  ·  13 August 2020
Money Laundering

Interactive Brokers to Pay $38M in Settlement Over AML Lapses

Publicly traded brokerage firm Interactive Brokers has agreed to pay multi-million dollar penalties to the SEC, Finra and CFTC for failure to flag suspicious transactions and lapses in AML compliance.

News  ·  10 August 2020
Money Laundering

‘Superman29’ May Do Time: California Resident Pleads Guilty to Laundering Millions Using Illegal Bitcoin ATMs

Kais Mohammad, aka “Superman29,” has agreed to plead guilty to federal charges he ran an unlicensed Bbtcoin ATM network that laundered up to $25 million.

News  ·  22 July 2020
CoinFlash

Latvian Police Seize Crypto Worth $126K in Bust of Suspected Cybercrime Ring

The “large-scale" money laundering operation ran from 2015 through 2020, police officials allege.

Policy & regulation  ·  22 July 2020