Crypto Exchange KuCoin Sees Massive Outflows After DOJ Lawsuit – Report

For the past week, crypto exchange KuCoin has been at the center of a regulatory tornado. The charges filed last Tuesday include breaking several regulations and violating anti-money laundering (AML) laws in the United States.

134 +

North Korea: Crypto-hacks fuel 50% of country's foreign funds, claims report

Crypto hacks reportedly accounted for 40% of North Korea’s weapons program.  North Korean actors like Lazarus Group prefer laundering through “mixers.” According to South Korea-based The post North Korea: Crypto-hacks fuel 50% of country's foreign funds, claims report appeared first on AMBCrypto.

116 +

Funds In The Shadows: ISIS Expands Crypto Usage For Fundraising And Money Laundering, Report

A recent Bloomberg report revealed that the Islamic State (IS) is allegedly growing its use of cryptocurrencies, including Tether’s USDT stablecoin, to raise and transfer funds globally, with a particular focus on Africa.

133 +

US Judge Approves Binance’s $4.3 Billion Plea Agreement – Details

According to the latest report, Binance Holdings Ltd. will pay one of the largest corporate penalties in United States history after a judge approved the company’s plea agreement. This comes months after the cryptocurrency exchange and its former CEO and founder Changpeng Zhao pleaded guilty to anti-money laundering infringements, bringing a close to a long-term […]

124 +

Crypto laundering drops as per Chainalysis report; Galaxy Fox presale popular among investors

Two narratives are recently unfolding in the crypto sphere. On one front, a recent report by Chainalysis unveils a promising decline in crypto laundering activities, marking a significant step forward in ensuring the integrity of digital transactions.

32 +

U.S. Regulators Do Have Some Control Over Stablecoin Tether: JPMorgan

USDT's appeal relative to other stablecoins will likely diminish as regulations will require more transparency and compliance with new anti-money laundering standards, the report said.

21 +

Nearly 50% of crypto investigations in 2022 involved tax issues, IRS says

Crypto investigations are no longer focused on money laundering as about half of the crypto probes in 2022 involved tax, the IRS says. As per a Bloomberg report, Jim Lee, head of the Internal Revenue Service’s (IRS) criminal investigation division…

131 +

Binance’s Ex-CEO Changpeng Zhao Restricted To US, Travel Ban Imposed

According to a Reuters report, former Binance CEO Changpeng Zhao, commonly known as CZ, must remain in the United States for the time being, as stated by a federal judge on Monday.  This decision comes after Zhao, the founder of the world’s largest cryptocurrency exchange, pleaded guilty to violating US anti-money laundering laws. Binance Ex-CEO […]

293 +

UK Regulator Welcomes Fund Tokenization Plan Proposed by Industry Leaders

The FCA is currently exploring whether it could determine money laundering registration applications more quickly for firms already authorized, the report said.

34 +

Turkey eyes new law on crypto assets: report

Turkey is preparing a new law on crypto regulation, according to Finance Minister Mehmet Simsek. The legislation looks to toughen approach to money laundering and terrorism financing to bring Turkey into compliance with Financial Action Task Force (FATF) requirements.

263 +

Multimillion FTX hack linked to Russian hackers: Elliptic

Blockchain intelligence company Elliptic has linked FTX’s $400 million hack to Russian hackers, citing the unsophisticated method of laundering employed by the attacker. Per Elliptic’s report, the attacker was converting the stolen funds to Bitcoin using Renbridge, a service owned by the bankrupt exchange sister company, Alameda Research.

333 +

Cryptocurrency misuse cases in Latin America

Match Systems, a leading firm in anti-money laundering solutions, has released a new report on cryptocurrency misuse cases in Latin America. The report reveals two significant illegal activities involving cryptocurrencies: a large-scale drug trade operation and a complex financial pyramid…

126 +

Singapore banks scrutinize Chinese-born clients amidst money laundering probe

Singapore froze and seized assets worth $1. 8B since last month in a money laundering probe targeted at cryptocurrencies, properties, and cash. Bloomberg’s September 21 report shows Banks are expanding their investigations to Chinese-born customers with other passports, focusing on clients holding crypto or participating in money laundering activities.

129 +

How Cross-Chain Bridges Facilitate Dirty Money For Crypto Criminals

Cross-chain bridges have emerged as a pivotal battleground in the ever-evolving war against crypto asset laundering, according to a recent report by crypto analytics firm Elliptic.  In a dramatic shift, the study reveals that the value of illicit crypto assets laundered through cross-chain bridges has skyrocketed in recent months, overshadowing the conventional use of mixing […]

152 +

Singapore Police report higher total involved in money laundering case

The Singapore Police Force is planning to take further action in response to the largest money laundering case in the country. Currently, cryptocurrencies valued at $26 million have already been seized in relation to the case.

2361 +

Report reveals North Korea and Russia's crypto-nexus

About $22 million in stolen cryptos from the Harmony Protocol heist were transferred to a Russian exchange. Russia was the global hub of cryptocurrency laundering. The crypto industry has beThe post Report reveals North Korea and Russia's crypto-nexus appeared first on AMBCrypto.

171 +

Criminals Are Deterred From Using Cryptocurrency for Illicit Transactions: Europol

Europol's report reveals that criminals are deterred from using cryptocurrencies for money laundering due to successful law enforcement seizures, with illicit crypto use representing less than 1% of overall transactions.

167 +

Tornado Cash developer pleads not guilty to charges of conspiracy, money laundering

Roman Storm, a key developer behind cryptocurrency mixer Tornado Cash, pleaded not guilty to several criminal charges, Inner City Press said on Sept. 6. That report indicates that Storm pleaded not guilty to charges contained within an earlier indictment.

150 +

Tornado Cash developer Roman Storm pleads not guilty to charges of conspiracy, money laundering; released on $2M bond

Roman Storm, a key developer behind cryptocurrency mixer Tornado Cash, pleaded not guilty to several criminal charges, Inner City Press said on Sept. 6. That report indicates that Storm pleaded not guilty to charges contained within an earlier indictment.

187 +

FTX’s Sam Bankman-Fried pleads not guilty to fraud charges: Report

Sam Bankman-Fried, the former CEO and founder of now-defunct crypto exchange FTX, reportedly pleaded not guilty to fraud and money laundering charges in a court hearing on Aug. 22.

716 +

Binance Troubles Escalate: Checkout.com Cuts Ties Citing AML Concerns

According to a recent report by Forbes, Checkout. com, the London-based credit card processing company, has terminated its contract with the largest crypto exchange in the world, Binance, citing concerns over money laundering and compliance issues.

167 +

US Senators Want You to Report Crypto Transactions of Over $10,000

Senators reintroduce Digital Asset Anti-Money Laundering Act.

The post US Senators Want You to Report Crypto Transactions of Over $10,000 appeared first on BeInCrypto.

127 +

Wall Street Banks Back U.S. Senator On Crypto Clampdown: Report

A group of Wall Street lenders, the Bank Policy Institute (BPI), has thrown its support behind U. S. Senator Elizabeth Warren on her recently reintroduced legislation known as the Digital Asset Anti-Money Laundering Act.

142 +

Taxing the Cryptoverse: IMF Report Claims AML Rules Not Enough to Stop Tax Evasion

According to a report recently released by the International Monetary Fund (IMF), current anti-money laundering (AML) policies are inadequate for effectively dealing with tax evasion in the cryptocurrency industry.

245 +

Money Laundering in Crypto Is a Growing Problem, Report Says

A full 28% of crypto firms report a rise in Suspicious Activity Reports (UK).

The post Money Laundering in Crypto Is a Growing Problem, Report Says appeared first on BeInCrypto.

179 +

Crypto travel rule fails to meet FATF standards, says report

The Financial Action Task Force (FATF) has issued a renewed call urging countries to adopt and implement the "Travel Rule" as a vital measure to combat money laundering and terrorism financing facilitated through cryptocurrencies.

576 +

Binance under investigation in France since February 2022: Report

The French arm of Binance is reportedly under investigation by the local authorities on charges of “aggravated money laundering.“

410 +

Qatar Isn’t Doing Enough to Tackle Crypto Money Laundering, Says Watchdog

The Financial Action Task Force (FTAF) has reprimanded Qatar for its insufficient efforts in addressing money laundering and terrorist financing. The report highlights the lack of convictions and major inconsistencies in Qatar's response.

157 +

Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month: Report

Earlier this month, global financial crimes watchdog FATF urged G-7 economies like Japan to lead by example to implement its controversial "travel rule" for crypto transfers.

131 +

New law pushes around 400 crypto firms out of Estonia

The number of registered crypto firms in Estonia has dropped by 80% after it enacted a new law to prevent money laundering. The money laundering regulator in the country, Financial Intelligence Unit, published a report stating that the validity of 389 authorizations has expired, and there are only 100 active authorizations for virtual assets service […] The post New law pushes around 400 crypto firms out of Estonia appeared first on CryptoSlate.

64 +

First Insider Trading Case Involving Digital Assets Comes to Light as Ex-OpenSea Manager Found Guilty

A former product manager at NFT marketplace OpenSea was found guilty of fraud and money laundering on Wednesday, according to a Reuters report. The post First Insider Trading Case Involving Digital Assets Comes to Light as Ex-OpenSea Manager Found Guilty appeared first on BeInCrypto.

199 +

Ex-OpenSea Exec Convicted of Wire Fraud, Money Laundering in Insider Trading Case

Nate Chastain, the former head of product at non-fungible token (NFT) platform OpenSea, was convicted of money laundering and wire fraud in a New York court on Wednesday, according to a report from Reuters.

178 +

Crypto Decentralization Identified as U.S. Security Risk by Treasury Department

The United States Treasury Department has issued a report warning of the growing security risks associated with the decentralized finance (DeFi) sector, highlighting vulnerabilities that illicit actors exploit for money laundering and evasion of regulator

201 +

North Korean hackers using stolen crypto to mine more crypto via cloud services: Report

Cybersecurity firm Mandiant has “graduated” a new group of hackers who finance state goals and their own existence with the help of crypto laundering.

207 +

India's Crypto Businesses Handed Anti-Money Laundering Obligations for First Time

They will have to register with the Financial Intelligence Unit and voluntarily report suspicious activities.

55 +

Tether Partners Used Fraudulent Documents to Give Company Access to Bank Accounts, Says Report 

Stablecoin issuer Tether faces allegations by the Wall Street Journal that it accessed bank accounts through shell companies and accounts used for money laundering. The post Tether Partners Used Fraudulent Documents to Give Company Access to Bank Accounts, Says Report  appeared first on BeInCrypto.

212 +

$4 Million in Ethereum (ETH) Being Actively Laundered by North Korean Hackers Now: FBI Report

Recently published report shows that Lazarus Group has been actively laundering ETH stolen in June last year

172 +

Bitzlato CEO arrested by Spanish police: Report

Authorities seized an estimated $19.8 million worth of crypto, fiat and luxury goods from Bitzlato executives related to an ongoing money laundering investigation.

934 +

Shuttered Crypto Exchange Bitzlato Says It Plans to Resume Operations: Report

The exchange had been charged by U.S. and European authorities with laundering $700 million in funds tied to Russian criminals.

125 +

Where Tornado Cash stands in 2023, post money laundering charges

A report by Chainalysis takes a closer look at the impact of OFAC’s sanctions imposed on Tornado Cash.  The sanctions led to a decline in inflow, but failed to pull the plug on the underlyinThe post Where Tornado Cash stands in 2023, post money laundering charges appeared first on AMBCrypto.

238 +

Coinbase Fined $50 Million for Lax Anti-Money Laundering Measures

Per a report from the New York Times (NYT), crypto exchange Coinbase (COIN) reached an agreement with the New York Department of Financial Services (NYDFS). The company will pay around $100 million to improve its account and background checks.

200 +

Binance at the Center of Drug Cartel Money Laundering Plot, Report Alleges

A drug cartel with operations in several countries used Binance to transfer millions in illegal proceeds, according to a U.S. Drug Enforcement Action (DEA) investigation. The post Binance at the Center of Drug Cartel Money Laundering Plot, Report Alleges appeared first on BeInCrypto.

227 +

Chinese police arrest 63 people for laundering $1,7bn in crypto

Chinese police have arrested a gang of people accused of laundering $1.7 billion (12 billion in Chinese yuan). Its 63 members laundered their funds using crypto in May 2021. According to a local report, the gang used money from illegal…

196 +

DOJ Mulls Bringing Criminal Charges Against Binance: Report

Binance and its executives could be facing charges including unlicensed money transmission, money laundering conspiracy, and criminal sanctions violationsif prosecutors can agree on filing them. Reuters vs. Binance The FTX...

198 +

US Prosecutors Look to Charge Binance, Executives on Possible Money Laundering Violations: Reuters

The Department of Justice has also discussed possible plea deal with Binance's lawyers, the report added.

65 +

Report: FATF's 'Grey List' includes countries ignoring crypto-AML rules

The Financial Action Task Force (FATF) has a 'Grey List' for nations that don't follow its "Anti-money laundering (AML) regulations for cryptocurrencies." According to a report by Al Jazeera, the The post Report: FATF's 'Grey List' includes countries ignoring crypto-AML rules appeared first on AMBCrypto.

276 +

New age of crypto crime; how criminals have evolved- a detailed report

A new study published by crypto analytics and compliance platform Elliptic, took a close look at the exploitation of web3 platforms to facilitate money laundering.  The study, titled “The state The post New age of crypto crime; how criminals have evolved- a detailed report appeared first on AMBCrypto.

105 +

Japan to tighten laws to prevent money laundering via crypto by May 2023

The government of Japan is looking to introduce cryptocurrency transfer rules in May 2023 to track money transfers by criminals, according to a Nikkei Asia report on September 27. The post Japan to tighten laws to prevent money laundering via crypto by May 2023 appeared first on CryptoSlate.

192 +

Japan preparing amendment to enforce FATF travel rules on crypto by May 2023: Report

Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation.

92 +