Tagged: money laundering

November 18, 2019 @ 5:59 pm By Omar Faridi  |  

Peer-to-peer (P2P) bitcoin exchange LocalBitcoins has registered with the Finnish Financial Supervisory Authority, FIN-FSA, the financial regulatory authority of the Finnish government. Earlier this month, Crowdfund Insider reported that five different virtual asset service providers (VASPs) had been approved and LocalBitcoins was in the mix… Read More

October 16, 2019 @ 3:14 pm By Omar Faridi  |  

CipherTrace, the leading provider of cryptocurrency intelligence and blockchain security, announced on October 15 the launch of a comprehensive virtual asset tracing capability.  According to a press release shared with Crowdfund Insider, CipherTrace customers can trace Bitcoin (BTC) transactions and over 700 digital tokens following… Read More

September 24, 2019 @ 7:49 am By Omar Faridi  |  

AUSTRAC, Australia’s financial intelligence agency, ordered an audit on September 24 of international money transfers made by online payment service provider PayPal according to a release. Australia’s authorities suspect that the transactions facilitated by PayPal might be associated with serious crimes such as child exploitation. … Read More

September 21, 2019 @ 11:52 am By Omar Faridi  |  

South Korean digital asset exchange Upbit announced on September 20 that it will delist several privacy-oriented cryptocurrencies including Monero (XMR), Dash (DASH), and ZCash (ZEC). Upbit’s management noted in a blog post that it would also cease trading for PIVX, a privacy-focused proof-of-stake (PoS) currency… Read More

August 31, 2019 @ 12:08 pm By Cali Haan  |  

An Australian living in Boulder, Colorado has been sentenced to one year and a day in prison and 12 months probation for laundering money using Bitcoins. Emilio Testa, age 32, was arrested after selling bitcoins to undercover agents. “According to the stipulated facts contained in… Read More

August 30, 2019 @ 6:51 am By Cali Haan  |  

Content warning: This article contains brief descriptions of the abuse of children. Reader discretion is advised. Cryptocurrencies are making cyber-crime, terror financing, money laundering and child exploitation much easier, Neil Walsh, chief of the Cybercrime and Anti-Money-Laundering section of the United Nation’s Office on Drugs and Crime… Read More

August 27, 2019 @ 10:30 am By Cali Haan  |  

A young man in Los Angeles has pleaded guilty to charges of drug dealing, unlicensed money transmitting and money laundering relating to the processing of $25 million USD in illicit money via his Bitcoin trading services. Kunal Kalra, 25, also known as “Kumar,” “shecklemayne” and… Read More

August 6, 2019 @ 2:40 am By Cali Haan  |  

Police Major Gen Preecha Charoensahayanon, chief of Thailand’s Anti-Money Laundering Office (AMLO) says cryptocurrencies, “will be a tool of new money laundering,” in the country going forward. “That’s why we’re amending laws to prepare us for new online missions,” Charoensahayanon told The Bangkok Post. Charoensahayanon… Read More

July 18, 2019 @ 9:20 pm By Cali Haan  |  

A young student at Moscow State University, Alexey Andryunin, and his unnamed partner, have come up with a lucrative sideline that has made them much less interested in their studies: the wash trading of crypto tokens to make it look like there’s a market for… Read More

June 7, 2019 @ 6:54 am By Cali Haan  |  

Police in Vancouver have reportedly called Bitcoin ATMs “an ideal money-laundering vehicle” and have asked for federal legislation, and the mayor of Vancouver, the first city in the world to host a Bitcoin ATM, has now floated the idea of a ban, The Star reports…. Read More

May 30, 2019 @ 3:03 pm By Cali Haan  |  

Though cryptocurrencies were created to offer an alternative to traditional banking -and to affront it- the past two years have been characterized by crypto’s quest for legitimacy. To be fair, cryptocurrency exchanges with long-term interests, including Coinbase and Gemini, have attempted to be compliant from… Read More

May 29, 2019 @ 9:41 am By Samantha Hurst  |  

Blockchain security company CipherTrace announced on Wednesday it has formed a new partnership with Rakuten Wallet, a subsidiary of Rakuten Group, a global company that operates an e-commerce site in Japan, to assure anti-money laundering (AML) compliance for the Rakuten’s highly anticipated cryptocurrency exchange. According… Read More

May 28, 2019 @ 5:04 pm By Cali Haan  |  

For the past few years, cryptocurrency businesses have been flocking to Estonia, attracted by the relaxed regulatory climate the country provided as it vied to be a leader in digital banking in the Baltics. According to ERR News: “The rapidity and ease with which foreign… Read More

May 22, 2019 @ 5:23 pm By Cali Haan  |  

Police in the Netherlands and Luxembourg have seized six servers hosting Bestmixer.io, “one of the three largest mixing services for cryptocurrencies.” The seizures, cooperatively executed by the Dutch Fiscal Information and Investigation Service (FIOD), Europol and the authorities in Luxembourg, have resulted in the complete shutdown… Read More

March 4, 2019 @ 2:05 pm By JD Alois  |  

Nordea Bank may be the next Scandinavian bank to get sucked into the money laundering scandal. Bloomberg is reporting that an upcoming broadcast that may reveal more details on money laundering have caused shares to drop. Apparently, a broadcast that will air by tomorrow will… Read More

December 19, 2018 @ 1:33 am By Cali Haan  |  

A Romanian citizen arrested last week by local cyber police and American Secret Service agents has been released on bail in the city of Cluj where he runs one of the region’s largest crypto exchanges. The agents flew to Romania to seek the arrest and… Read More

November 30, 2018 @ 4:49 pm By Cali Haan  |  

A raid initiated yesterday at Deutsche Bank headquarters in Frankfurt has continued into today as 170 police, prosecutors and tax officials look for evidence of money laundering described in the Panama papers, Reuters reports. The raid has involved a comprehensive search of the offices of… Read More

October 18, 2018 @ 3:16 am By Erin Hobey  |  

Chainalysis, a cryptocurrency compliance and investigation solutions provider, has completed a global roll-out of its compliance solution with Binance, the world’s largest cryptocurrency exchange by trade volume, to help address the challenges at the intersection of cryptocurrencies, regulators and traditional financial institutions. “Cryptocurrency businesses of… Read More

July 3, 2018 @ 10:17 am By JD Alois  |  

Q2 2018 Sees Increase in Crypto Theft and in Cryptocurrency Money Laundering CipherTrace has published a report on Crypto Theft and money laundering. Their research covers the second quarter of 2018 and according to the document there has been a dramatic rise in Crypto crime… Read More

October 27, 2017 @ 4:28 pm By JD Alois  |  

“Cybercrime as a Service” is a Growing Problem In the UK, HM Treasury and the Home Office have published a report on money laundering and terrorist financing. As one of the largest economies in the world that is based on global trade and quite open… Read More