trade-based money laundering
Cryptocurrencies Fueling Trade-Based Money Laundering: Insights from Michael Firing of CITE
Michael Firing, Assistant Director at CITE, discusses how cryptocurrencies are being used in trade-based money laundering activities.
Tether Brings into Play Anti-Money Laundering Solutions with Chainalysis Tool
Tether, the most leveraged stablecoin provider based on market capitalization, has deployed a tool provided by Chainalysis, a blockchain analytical company, in its quest to have anti-money laundering (AML) compliance solutions
US Justice Department Charges Six People for Laundering Drug Cartel Money Using Crypto
The US Eastern District Court of Virginia has charged six people for allegedly involved in laundering millions of dollars for Mexican drug cartels using cryptocurrency.
First Bitcoin Mixer Slapped with $60M Fine by FinCEN in Money Laundering Crackdown
FinCEN charged a Bitcoin-mixing operator with a $60 million civil money penalty for violating anti-money laundering regulations.
OKEx Founder Troubles Not Linked to Yuan Money Laundering in China, Says Blockchain Journalist
Colin Wu, a Chinese blockchain journalist thinks it is unlikely Mingxing Xu, the founder of OKEx crypto exchange has anything to do with a Yuan money-laundering scheme.
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.
LocalBitcoins Seller Charged by US Homeland Security for Money Laundering
Kenneth Rhule, a localBitcoins seller is charged by the US Homeland Security for conducting an unlicensed money transmitting business. Rhule can face up to forty years in prison on account of fraudulent activity alongside illegal marijuana production and distribution.
New Zealand Police Seize about $6.7m Cryptocurrency from Jarothe n David McIvor for Alleged Money Laundering
The New Zealand police confiscated about $6.7m cryptocurrency from Jarothe n David McIvor, a software developer, in Hamilton for alleged money laundering via online movie piracy in the United States.
FinCEN Director Warns Crypto Firms Are Not Above Anti-Money Laundering Laws
Speaking at the University of Georgetown, Kenneth Blanco, FinCEN (The United States Financial Crimes Enforcement Network) Director, blasted the crypto firm by informing them that they are not exempted from the anti-money laundering laws.
Fiat Money
What is fiat money; the history of fiat money and its influence on monetary policy and the global economy.
SBI Group Introduces Blockchain-Based Money Transfer Service Between Japan And Vietnam
SBI Ripple Asia recently announced that it has joined hands with SBI Remit to provide money transfer services between Japan and Vietnam using blockchain technology. Of course, the two Japanese companies are working with a local Vietnamese bank – Tien Phong commercial joint stock bank – for making the transfer in fiat currency.
Russian Hacker Sentenced to 5 years of Prison for Money Laundering, Cybercrimes, and Extortion
Russian Hacker Alexander Vinnik has been sentenced to 5 years imprisonment by a Parisian court. The judgment may be appealed as noted by Vinnik's lawyer.
US Federal Court Defines Bitcoin As Money
A US Federal court has classified Bitcoin as a “money” under the Washington, D.C, Money Transmitters Act (MTA).