terrorist financing
Janet Yellen says Crypto Terrorist Financing is a Concern Following Attacks on US Capitol
Janet Yellen highlighted the “growing concern” of crypto being leveraged to finance terror just weeks after the US Capitol was attacked by domestic terrorists paid in BTC.
FinCEN Issues Alert to Counter Financing to Hamas and its Terrorist Activities
The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury has issued an alert to financial institutions, urging vigilance in identifying and reporting suspicious activities related to the financing of the terrorist organization Hamas. The alert comes in the wake of a Hamas-led attack on Israel on October 7, 2023, which was funded through various means, including virtual currency.
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.
US House Committee to Probe Crypto Crimes in November Hearing
The US House Financial Services Committee will hold a hearing today, November 15, 2023, to examine illicit cryptocurrency activities, including money laundering and terrorist financing, and discuss the Department of Justice's focus on these crimes.
EU Proposes Cap on Anonymous Crypto Transfers
The European Union is proposing a 1,000 euro cap on anonymous crypto transfers to combat money laundering and terrorist financing. The limit would apply to transfers when a customer cannot be identified, and the proposal also caps cash transactions at 7,000 euros. The Anti-Money Laundering and Countering the Financing of Terrorism package is expected to be confirmed in April.
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.
FATF Assessment Finds Majority of US Exchanges are Compliant with Virtual Asset Guidance
The Financial Action Task Force (FATF) has published an assessment of the US’s compliance with its revised criteria for anti-money laundering (AML) and terrorist financing (CTF) through virtual assets and found that most virtual asset providers are compliant.
Terrorist Groups Use Telegram for Raising Cryptocurrencies
Terrorist groups, including ISIS, Al-Qaeda, and Hamas, are using several social media platforms, including Telegram, to raise funds via cryptocurrencies.
French Police Arrest 29 People for Financing Syrian Islamist Terrorists Using Bitcoin Coupons
French police have apprehended 29 individuals suspected of funding Islamist extremists in Syria using cryptocurrencies.
FATF Virtual Assets Guidelines for Cryptosphere Review
With the growing concern of virtual assets/cryptocurrencies being used as a medium for the financing of illegal activities, the Financial Action Task Force (FATF) issues revised guidance from time to time to combat money laundering and terrorist financing involving virtual assets (VAs) and virtual asset service providers (VASPs).
UK ISIS Member Charged for Sending Bitcoin to Terrorist Militants in Syria
A UK member of ISIS faces multiple charges for sending funds using Bitcoin to aid the escape of terrorist militants being held in prison camps in Syria.
CIMB Bank Singapore Collaborates with iTrust for First-Ever Blockchain Trade Financing
CIMB Bank Singapore and iTrust have collaborated in the first-ever successful blockchain trade financing transaction.
Mogul Productions Implements Chainlink Oracles to Optimize Film Financing
Some industries are reluctant to change because they benefit a small group of people or firms; film financing fits this category. Mainly restricted to established companies, funding and producing an independent movie can be extremely challenging without the right backers. One project looking to remedy that is Mogul Productions, a blockchain-based, decentralized film financing platform.
Crypto & the FATF Travel Rule: FinCEN Suggests Challenges in Governance, Not Technology
The Financial Action Task Force (FATF) Travel Rule has been in the center of attention lately, which concerns crypto transactions above a certain amount must be accompanied by identifying information.The rule is an update to the existing FATF Recommendation 16, regarding cross-border and domestic wire transfers, and is intended to address the anti-money laundering (AML) and counter-terrorist financing (CFT) challenges as crypto adoption increases. The FATF Travel Rule could mean implications for virtual asset service providers (VASPs), including cryptocurrency exchanges, wallet providers, and custodians.
Core Scientific Partners with Foundry in Financing Deal up to $23 Million
The financing from Foundry will enable Core Scientific and its clients to continue shifting global mining operations to North America
China Looking into the Application of Blockchain and AI for Cross-Border Financing
China is researching the application of blockchain technology and artificial intelligence in cross-border financing, focusing on risk management.
DOJ Extradites Bitcoin Thief From Cyprus Along With Hezbollah Terrorist
The US Department of Justice has extradited two criminals from Cyprus—one with known connections to terrorism and the other on suspicion of stealing thousands in Bitcoin.