Tag Archives: Laundering

Chinese law enforcement agencies have announced a breakthrough in their fight against illegal financial activities. They have dismantled a large underground banking gang allegedly involved in facilitating illegal transactions using Tether’s USDT stablecoin.  The operation spans multiple provinces and is believed to have enabled over $2 billion worth of illicit …

United States prosecutors have alleged that two co-founders developed a crypto mining service called Samourai Wallet that conducted unlawful transactions worth $2 billion. The co-founders each face charges of money laundering and unlicensed money transmitting business, with the former carrying a maximum prison sentence of 20 years. Samourai Wallet Allegedly …

In a significant development, Keonne Rodriguez and William Lonergan Hill, founders and CEO of the privacy-focused Bitcoin wallet and mixer, Samourai Wallet, have been arrested and charged with money laundering and operating an unlicensed money transmitting business. The U.S. Department of Justice (DOJ), Southern District of New York, announced these charges …

Enhance due diligence is the process of identifying the identity of the partner entities. To prevent money laundering and terrorist financing, thorough verification of customers and businesses is necessary to ensure they are not involved in illicit activities. EDD is a risk-based approach that helps companies such as financial institutes, …

Following his arrest nearly three years ago, a Jury in a US federal district court found Roman Sterlingov, operator of the crypto mixer Bitcoin Fog, guilty of a four-count charge regarding money laundering. The founder of Bitcoin Fog faces up to a maximum of 50 years in prison for all …

According to a recent report published by crypto analytics firm Chainalysis, money laundering involving crypto assets has experienced a notable decline compared to the previous year. However, the report highlights that illicit actors have started adapting their tactics to evade detection and further obscure the movement of illicit funds.  Evolving …

According to a report by the Financial Times, the United Nations (UN) Office on Drugs and Crime has identified Tether, one of the world’s largest cryptocurrency platforms, as an increasingly popular tool for money launderers and fraudsters operating in Southeast Asia, adding to increased regulatory scrutiny of the stablecoin issuer. …

Despite the increasing involvement of the USDT stablecoin in criminal activities, the UN has reported that law enforcement authorities have successfully dismantled various money laundering organizations responsible for transferring illegal funds using USDT. The United Nations (UN) has warned that Tether’s USDT stablecoin has become the preferred cryptocurrency for money …

This article is featured in Bitcoin Magazine’s “The Withdrawal Issue”. Click here to subscribe now. A PDF pamphlet of this article is available for download. With all the scrutiny on megabank JPMorgan’s relationship with the now dead sex offender Jeffery Epstein, Treasury secretary Janet Yellen has called for less regulations …

In a recent crypto investigation, the US FBI successfully infiltrated a group of Indian citizens suspected of engaging in illicit activities involving the exchange of cryptocurrency for over $15 million in cash.  The alleged transactions took place at various locations in Westchester County, with the group catering to customers seeking …

In a recent development, Binance, the world’s largest cryptocurrency exchange, is facing serious allegations of “aggravated money laundering” in France. These charges come after a visit by local police to the exchange’s headquarters in the European country on June 16. Binance Faces French Probe French prosecutors initiated the investigation into …

Ellison, who led Alameda Research, said SBF asked her to commit money laundering and fraud by faking figures submitted to investors. The former CEO of Alameda Research Caroline Ellison has testified against former FTX CEO Sam Bankman-Fried (SBF) in the ongoing trial. While testifying as the fifth witness for the …