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These week’s news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress. Go to Source Powered by WPeMatico
FinCEN has fined the operator of early crypto mixers Helix and Coin Ninja for Bank Secrecy Act violations. Go to Source Powered by WPeMatico
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory highlighting the sanctions risk American citizens face if they help facilitate ransomware payments. In the advisory, the OFAC says it will “continue to impose sanctions on those who materially assist, sponsor, or provide financial, material, or technological support for … Read more
Malware payouts from insurance companies pose a threat to U.S. national security. Go to Source Powered by WPeMatico
Had it been Coinbase or Nexo, he agreed with speculation that law enforcement would have been knocking on the door the next day. Go to Source Powered by WPeMatico
According to the International Consortium of Investigative Journalists (ICIJ), five major global banks have been exposed funneling trillions of dollars in criminal funds in the recently leaked FinCEN Files. The massive leak is 2,100 documents spanning from 2000 to 2017 which shows fraudulent funds flowed almost effortlessly through JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, … Read more
The leaked documents show many banks ‘enabling’ money laundering. Go to Source Powered by WPeMatico
FinCEN is preparing to modernize its AML requirements for financial institutions to greater respond to the dynamic threats posed by “illicit finance.” Go to Source Powered by WPeMatico
FinCEN issued a statement on cybercrime in light of COVID-19. Go to Source Powered by WPeMatico
Laundering money with Bitcoin is actually an ineffective strategy because of its complexity and high risk. Go to Source Powered by WPeMatico
