US Moves to Cast a Wider Net for Catching Money Launderers, Crypto or Otherwise
The Fed and the Financial Crimes Enforcement Network want to lower the threshold for reporting financial transactions and make sure crypto is included.
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The anti-money laundering bill concerning bitcoin Florida legislators just passed via an appropriations committee has been approved May 6 by both houses. The only remaining step in the process is for Florida’s governor to sign it into law, in which case it will go into full effect. The intent of the bill is to prevent money-launderers from using bitcoin....
Three Nigerian nationals are accused of using money laundering proceeds to buy bitcoin worth over $43 million from cryptocurrency exchange platforms like Binance and Busha. The trio is accused of moving an equivalent of over $215 million from Nigeria to Kenya between October and November 2020.
Powerful Kenyan Politician Assists the Alleged Money Launderers
The global law enforcement agency, Interpol is seeking to conclude a case in which three Nigerian nationals are alleged to have used money laundering proceeds to buy bitcoins worth over $43 million, a report has said. Three....
The story Binance is trying to sell sure is juicy. A little too convenient, considering the year the company’s had, but hey… Binance is be facing criminal investigations in the US, the UK, and Japan among others. This time, however, they proved that they want to “be the industry leader” and not just the world’s […]
Nested exchanges are becoming a popular tool for money launderers. Learn all about nested exchanges/services and what we’re doing to combat them as well as how to avoid them and why accounts get blocked or frozen because of them.
Main Takeaways:
A nested exchange provides crypto trading services through an account or wallet on an existing host exchange.
Nested exchanges are attractive crypto platforms for money launderers looking to bypass KYC and AML requirements.
In this article, you’ll learn how to avoid nested exchanges, the common....
Since the growing crypto issues, high inflation, and happenings like the Terra collapse have shocked the world, law enforcement agencies, including China, have been working actively to protect users and capture criminals. China has busted a new group in a recent crackdown on money launderers. Cybercriminals and fraudsters from almost every corner of the world […]