Day: August 4, 2023

Written by FinCrime

How Money Laundering Works In The Art World

Reported by CHARLIE POGACAR Works of art have long been identified, and sometimes even romanticized, as ideal ways for racketeers to launder money. There’s a thread of logic here: the art world typically accommodates those that want to anonymously buy high-dollar paintings, and on top of that, the industry allows large cash deals. For those looking […]

Written by FinCrime

DOJ Weighs Fraud Charges against Binance, Worried about Bank Run

Reported by Solomon Oladipupo US prosecutors are mulling over whether to initiate criminal charges against Binance, thereby turning the heat on 13 civil chargesfiled by the securities watchdog against the top crypto exchange earlier in June, Semafor reported today (Wednesday), citing insider sources. However, the Department of Justice (DOJ) is worried that such action could lead […]