Day: October 6, 2022

Written by FinCrime

City Broker Fined for Missing Dozens of Suspicious Trades

Reported by: Jonathan Browning Sigma Broking Ltd. was fined £530,000 ($596,830) for a series of reporting failures, the Financial Conduct Authority said Thursday. The regulator, which has recently prioritized cases of market abuse, said managers acted negligently while compliance and oversight was “unclear and confused.” The privately-owned brokerage missed 97 suspicious transactions or orders that […]

Written by FinCrime

Over $4B has been laundered through decentralized exchanges, cross-chain bridges, and coin-swap services, report says

Reported by: TAYLOR LOCKE Criminals have increasingly used decentralized exchanges (DEXs), cross-chain bridges, and coin-swap services for money laundering, a new report by blockchain analysis firm Elliptic shows. Though use of each typically is “overwhelmingly legitimate,” criminals so far have laundered over $4 billion in illicit crypto through the three services since 2020. “This expansion […]