Tagged: money laundering

November 13, 2025 @ 2:36 pm By JD Alois  |  

In a wide-ranging attack on drug-based money laundering, the US Department of the Treasury, in partnership with the Mexican government, has applied sanctions and other measures to undermine organized crime operating in Mexico, Europe, Canada, and elsewhere. The Office of Foreign Assets Control (OFAC) and… Read More

November 4, 2025 @ 1:04 pm By Omar Faridi  |  

A legal representative for US Senator Elizabeth Warren is now defending a social media post in which the lawmaker alleged that “corruption” somehow led to the October 23, 2025 presidential pardon of Binance founder Changpeng Zhao or “CZ”. A lawyer said to be representing Zhao… Read More

November 2, 2025 @ 2:44 pm By Omar Faridi  |  

Binance founder and former CEO of the crypto exchange, Changpeng “CZ” Zhao is considering a lawsuit against US Senator Elizabeth Warren for alleged defamation, potentially further escalating an argument that was made following the crypto billionaire’s residential pardon. The development has surfaced after the Massachusetts… Read More

July 14, 2025 @ 9:02 am By Omar Faridi  |  

The cryptocurrency industry continues to evolve, with this year bringing significant regulatory advancements, compliance challenges, and persistent threats from scams, according to an update from blockchain intelligence firm Elliptic. Recent developments highlight Hong Kong’s drive to become a global hub for digital assets, the complexities… Read More

July 5, 2025 @ 10:44 pm By Michael Wong  |  

Singapore’s central bank has imposed S$27.45 million ($20.3 million) in fines on nine financial institutions after concluding a sweeping investigation into anti-money laundering (AML) lapses tied to a major money laundering case uncovered in August 2023. The Monetary Authority of Singapore (MAS) said it had… Read More

June 29, 2025 @ 7:07 pm By Omar Faridi  |  

Belgian authorities have initiated a formal investigation into the local operations of Worldline (Euronext: WLN), a French payments processing company, following serious allegations of money laundering. The probe comes in response to claims that the firm may have facilitated illicit financial activities through its Belgian… Read More

May 27, 2025 @ 7:55 am By Omar Faridi  |  

In a report titled All Roads Lead to China, TRM Labs, a blockchain intelligence firm, has unveiled the intricate web of Chinese underground banking networks that have emerged as the financial linchpin of global illicit activities. These networks, leveraging both traditional and modern financial mechanisms,… Read More

February 23, 2025 @ 5:18 pm By Michael Wong  |  

The Philippines has been removed from the Financial Action Task Force’s (FATF) grey list after more than three years, following significant progress in strengthening its anti-money laundering and counter-terrorism financing (AML/CTF) framework, the global financial watchdog said. The FATF, which monitors global efforts to combat… Read More

January 29, 2025 @ 7:50 am By Omar Faridi  |  

A London-based financial services startup, Stenn Group, has reportedly entered administration, leaving creditors facing losses of over £100 million. The company, which specialized in invoice finance, had been under investigation by HSBC, its lender, following allegations of links to a Russian money laundering case. As… Read More

January 28, 2025 @ 11:09 am By Omar Faridi  |  

Danielle Sassoon, the United States Attorney for the Southern District of New York, announced that PEKEN GLOBAL LIMITED, a Seychelles-based entity that, since at least September 2019, has operated KuCoin, one of the largest cryptocurrency exchanges, pled guilty to “one count of operating an unlicensed… Read More

December 17, 2024 @ 12:42 pm By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against two individuals and a single entity regarding money laundering to the benefit of North Korea. OFAC says that Lu Huaying and Zhang Jian, working out of the UAE and… Read More

November 26, 2024 @ 11:25 pm By Omar Faridi  |  

This year has seen a number of seemingly positive developments for the cryptocurrency ecosystem, according to an update from Chainalysis. Chainalysis noted in a blog post that in many ways, crypto has continued to gain mainstream acceptance, following the approval of spot Bitcoin and Ethereum… Read More

August 28, 2024 @ 7:27 am By Omar Faridi  |  

New figures published today from KPMG UK’s mid-year Fraud Barometer show that money laundering has been the most common fraud type by value in the last six months. Nine cases have been heard in UK Crown Courts collectively “worth £128.2 million so far this year.”… Read More

August 20, 2024 @ 10:43 pm By Omar Faridi  |  

Unit21, a global risk and compliance leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, announced a new bundle of features for Automated Clearing House (ACH) transactions. These features use Generative AI (GenAI) and machine learning (ML) to “help banks,… Read More

July 25, 2024 @ 12:38 pm By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) has released a “Dear CEO” letter outlining the results emanating from a thematic review focused on Money Laundering Reporting Officers (MLROs) operating within Company Service Providers (CSPs) set up as corporate entities. As highlighted in the latest rendition of… Read More

July 19, 2024 @ 9:28 pm By Omar Faridi  |  

The Financial Action Task Force (FATF) has recently shared New Zealand’s progress in its efforts focused on “strengthening measures to tackle money laundering and terrorist financing.” FATF noted in a blog post that since the 2021 assessment of New Zealand’s measures to tackle money laundering… Read More

July 13, 2024 @ 11:06 am By Omar Faridi  |  

While public blockchains are inherently transparent and traceable, illicit actors turn to cryptocurrencies “to launder ill-gotten gains for the same reasons people use them for legitimate purposes: they are cross-border, virtually instant, and generally inexpensive to transact,” the team at Chainalysis noted in a blog… Read More

June 3, 2024 @ 11:41 pm By Omar Faridi  |  

Singapore recently released the Environmental Crimes Money Laundering (ML) National Risk Assessment (NRA) which identifies the key threats and vulnerabilities in environmental crimes ML that Singapore “is exposed to, and outlines mitigation measures which government agencies, financial institutions (FIs) and Designated Non-Financial Businesses and Professionals… Read More

May 17, 2024 @ 1:43 pm By Omar Faridi  |  

Countries need to urgently step up their efforts to target the huge illicit profits generated by transnational organized crime that facilitate conflicts, fund terrorism, and negatively impact vulnerable populations, according to an update shared by FATF. This was the unprecedented call to action from the… Read More

May 16, 2024 @ 11:36 am By Omar Faridi  |  

A US Department of Justice (DOJ) indictment was unsealed, charging Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the indictment arise “from an alleged… Read More