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IRS Expects Surge in Crypto Tax Crime Cases as Tax Season Concludes

IRS Expects Surge in Crypto Tax Crime Cases as Tax Season Concludes

The US Internal Revenue Service (IRS) is bracing for an increase in crypto tax crime cases as taxpayers file their returns on April 15. IRS criminal investigation chief Guy Ficco predicts a rise in charged Title 26 crypto cases this year and beyond. While crypto has been associated with various financial crimes in the past, Ficco anticipates a surge in "pure crypto tax crimes" in the future.

Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration

Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration

Tether rebuts a UN report accusing USDT of facilitating illicit activities, underscoring its traceability and law enforcement collaboration, and highlighting USDT's positive impact on developing economies.

EBA Issues Updated Guidelines for Crypto Asset Service Providers

EBA Issues Updated Guidelines for Crypto Asset Service Providers

The European Banking Authority (EBA) extends Anti-Money Laundering and Counter-Terrorist Financing measures to include crypto firms, aiming to harmonize regulatory approaches and mitigate financial crime risks in the EU.

Nasdaq Embraces AI to Spearhead Financial Crime Prevention

Nasdaq Embraces AI to Spearhead Financial Crime Prevention

Nasdaq is investing heavily in AI technology to combat financial crime, strengthening its position as a technology-driven financial services company and addressing sophisticated financial crimes.

BIS Advances Technology in Finance: Quantum, AI, and Green Initiatives for 2024

BIS Advances Technology in Finance: Quantum, AI, and Green Initiatives for 2024

The Bank for International Settlements announces six innovative projects for 2024, focusing on quantum security, AI, and green finance, to enhance global financial system resilience.

Why Regulated Banks Have Greater Potential For Financial Crime Than Bitcoin and Crypto

Why Regulated Banks Have Greater Potential For Financial Crime Than Bitcoin and Crypto

While agencies focus their attention on transparent Bitcoin transactions, banks have had an official free pass disclaimer to facilitate money laundering the entire time.

White House Budget Urges Legislation to Return Secret Service to Treasury Due to Crypto Crime Surge

White House Budget Urges Legislation to Return Secret Service to Treasury Due to Crypto Crime Surge

Cryptocurrencies, and other technological advancements, projected as a threat to the international financial marketplace, the department believes has contributed to more groups of criminal organizations and more links between financial and electronic crimes combined.

Twitter Bitcoin Hack Demonstrates That Crypto Fraud is Easier to Track Than Fiat

Twitter Bitcoin Hack Demonstrates That Crypto Fraud is Easier to Track Than Fiat

Cryptocurrency regulation was the hot topic during an ongoing panel hosted by the Association of Certified Financial Crime Specialists.

Kaspersky Report: Bitcoin Crime to Rise in 2021 Due to Covid-19 Induced Poverty

Kaspersky Report: Bitcoin Crime to Rise in 2021 Due to Covid-19 Induced Poverty

According to a new Kaspersky report, the coronavirus pandemic will increase cases of crypto and Bitcoin crimes in 2021.

US Treasury Sanctions Two Men Accused of Laundering Crypto for North Korean Cyber Crime Syndicate

US Treasury Sanctions Two Men Accused of Laundering Crypto for North Korean Cyber Crime Syndicate

The US Treasury Department Office of Foreign Asset Control has sanctioned two men believed to involved in laundering stolen cryptocurrency from a 2018 cyberattack against a cryptocurrency exchange.

US Government Creates Cyber Fraud Task Force to Put an End to Crypto Crime

US Government Creates Cyber Fraud Task Force to Put an End to Crypto Crime

The US Secret Service is hoping to put an end to the increasing money-laundering cases that have erupted with the rise of COVID-19, by creating a special division, dubbed the Cyber Fraud Task Force (CFTF).

Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record

Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record

The Libra Association appointed Sterling Daines as its new Chief Compliance Officer, who is currently the Managing Director and Global Head of Financial Crime Compliance at Credit Suisse. He is expected to leave his position at Credit Suisse and join the Libra Association later this year. Prior to Credit Suisse, he was the Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs and has worked as a consultant to the US Department of Justice and the Financial Crimes Enforcement Network (FinCEN).

UK’s Financial Regulator Seeks to Hire Crypto Specialist to Spearhead Digital Asset Regulations

UK’s Financial Regulator Seeks to Hire Crypto Specialist to Spearhead Digital Asset Regulations

UK’s financial regulator has posted a job listing for a potential candidate with strong crypto knowledge. The recruitment could be an indication that the agency is set to provide higher degree of regulatory scrutiny of digital assets and possible abuses.

UN Agency Advises Kenya to Embrace Blockchain Technology to Tame Corruption

UN Agency Advises Kenya to Embrace Blockchain Technology to Tame Corruption

The United Nations Office of Drugs and Crime (UNODC) wants Kenya to embrace blockchain technology to fight runaway corruption.

Hong Kong Financial Watchdog Proposes Restricting Cryptocurrency Trading to Professional Investors

Hong Kong Financial Watchdog Proposes Restricting Cryptocurrency Trading to Professional Investors

Hong Kong retail traders may be prohibited from trading cryptocurrencies if the city’s Financial Services and the Treasury Bureau’s proposed rule is approved.

Oxford Law Researchers Call for Strict Cryptocurrency Regulation to Avoid Another Financial Crisis

Oxford Law Researchers Call for Strict Cryptocurrency Regulation to Avoid Another Financial Crisis

Researchers at Oxford University Law Faculty claim that crypto market regulation is mandatory to prevent systemic risk in times of financial crisis.

G7 Bank Sector Higher Money Laundering Risk than Crypto Industry, Reports Mexico Financial Intelligence

G7 Bank Sector Higher Money Laundering Risk than Crypto Industry, Reports Mexico Financial Intelligence

According to a report released by the Financial Intelligence Unit of Mexico, the G7 banking sector was most at risk of money laundering operations.

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