33 money laundering crypto crims targeted worldwide in 3 separate cases
Law enforcement representing 16 different countries cooperated to arrest 20 members of a global crypto-powered money laundering cartel in just one of the cases. Law enforcement officials from around the world hav taken action against a major transnational money laundering operation involving cryptocurrency.On Oct. 15, Europol announced a successful operation across 16 countries that resulted in the arrest of 20 individuals suspected of working for the QQAAZZ criminal network. The organization is accused of laundering tens of millions of euros for top cybercriminals since 2016. The funds....
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The criminal investigation division of the IRS says it is preparing hundreds of crypto-related cases for the upcoming tax season. The United States Internal Revenue Service (IRS) criminal investigation division is ramping up for tax season with its sights set on the crypto community.According to a report from Bloomberg Law, the division chief Jim Lee said they are preparing “hundreds” of crypto-involved cases, many of which will soon be available to the public.Lee said in the last three years, there has been a major shift in digital asset investigations conducted by the IRS. Previously....
An international crime expert has labeled London the center of international money laundering, saying the city's major banks disregard the anti-money laundering regulation that at the same time burdens FinTech startups. Roberto Saviano — the author of the popular crime investigation books “Gomorrah” and “Zero Zero Zero,” dealing with the Italian mafia and the cocaine trade, respectively — made the comment in an interview on July 4. In June, the UK's National Crime Agency published a report on the state of 'Serious and Organized Crime' in the country, which described how money laundering....
Major crypto exchange Binance replied to a report published by media outlet Reuters. The controversial report claims Binance has been key to allegedly support illicit activity around the world, failed to provide assistance to authorities to prevent money laundering cases, and failed at imposing a robust Know Your Customer (KYC) policy. Related Reading | U.S. Links […]
The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, particularly bitcoin, as well as central bank digital currencies (CBDCs). The BIS explained that “Several recent developments have placed a number of potential....
The Indian crypto exchange was under investigation by local authorities for money laundering allegations which caused a freeze on over $8.1 million in bank account funds. The Enforcement Directorate of India (ED) unfroze the bank accounts of the Indian crypto exchange WazirX, according to a statement from the exchange released on Sept. 12.WazirX says it has been cooperating with local authorities during their anti-money laundering (AML) investigation by providing all of the necessary documents and details requested. The investigation targeted 16 fintech companies and instant loan apps,....