Money Laundering

Chainalysis and Integra Win $1.25 Million IRS Contract to Break Monero

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Venezuela Passes Law Legalizing Crypto Mining, Forces Miners to Join National Mining Pool Reports say Venezuela has now legalized bitcoin mining following the decree recently issued by the National Superintendency of Crypto Assets and Related Activities (Sunacrip). As part of the new regulations, all entities and individuals interested in legally mining bitcoin and … read …

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Crypto crimes are no excuse for taking away digital asset fungibility

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The modern world has become too small for comfort. The truth is that technological advancement is a double-edged sword, which has the potential to enhance human lives drastically at many levels and disrupt them in the blink of an eye, shaping things on a global level to an extent yet not seen.  Even though we …

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Nexo founder feels vindicated by the FinCen leak, talks of double-standards

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Nexo co-founder Antoni Trenchev told Cointelegraph that he believes the information revealed during the recent FinCen leak vindicates the crypto industry. According to the leak, the world’s leading financial institutions cleared over $2 trillion “suspicious” transactions — and Deutsche Bank alone cleared over $1.3 trillion of that amount. Trenchev said: “The first thing I’m feeling …

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Mandatory KYC verification may contradict privacy laws in South Korea

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With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws. According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot legally request social security …

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Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble

Leave a Comment / Bitcoin, Black Thursday, Cryptocurrencies, Dow Jones Industrial Average, Financial Institutions, Markets and Prices, Max Keiser, max keiser bitcoin, Money Laundering, Stock Market Crash, Stock Markets / By

Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by …

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Report: Privacy coins don’t conflict with anti-money laundering laws

Leave a Comment / AML, Cryptocurrencies, IRS, Law, Monero, Money Laundering, Privacy, United States / By

Privacy-oriented cryptocurrencies like Monero (XMR) do not conflict with Anti-Money Laundering laws, according to a major global law firm. Perkins Coie, a Seattle-based international law firm, published a report devoted to the AML regulation of privacy coins on Sept. 15. In the report, Perkins Coie aims to dispel the purported misconception that privacy coins like …

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SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency

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A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as …

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‘Exclusive mining’ could have negative implications for the Blockchain industry, say experts

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Dr. Elias Strehle of the Blockchain Research Lab and Lennar Ante of the University of Hamburg recently warned that blockchain nodes engaging in exclusive mining “have no incentive to forward new transactions to their peers.” They speculated that crypto miners may instead be incentivized to keep transactions confidential “in the hope of being the only …

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US Hopes to Confiscate $400M: DoJ Files Forfeiture Judgment Against Onecoin Launderer

Leave a Comment / Bank Fraud, doj, Fake Blockchain, forfeiture, Konstantin Ignatov, Locke Lord LLP, Mark S. Scott, Mark Scott, Money Laundering, News, Onecoin, Onecoin Fraud, Onecoin Scam, Phony Cryptocurrency, Ponzi, Porche 911, Ruja Ignatova, Scam, Sebastian Greenwood, Seizure / By

Prosecutors from the Southern District of New York (SDNY) court have submitted a “forfeiture money judgment” against the former attorney Mark Scott. The lawyer was charged with helping the Ponzi scheme Onecoin launder funds. The U.S. Department of Justice (DoJ) claims that Scott helped launder $400 million and the entity hopes to seize his current …

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AirBit Club Ponzi Operators Charged With Fraud and Money Laundering

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The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe. According to an announcement from the U.S. Department of Justice, four of the five alleged operators of AirBit Club, which allegedly netted tens of millions of dollars from victims, were arrested and …

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