Written by FinCrime

Sanctions Whistleblower Program: A Little-Known Tool For Employees Added To DOJ’s Anti-Russia Arsenal

Reported by Robert Anello In the wake of Russia’s invasion of Ukraine, long-standing economic sanctions have been reinvigorated, with the U.S. committing significant efforts and resources to aggressive sanctions enforcement relating, in particular, to Russian oligarchs. One weapon recently added to the Department of Justice’s arsenal is a little-noticed program enacted in the closing days of 2022. The […]

Written by FinCrime

Citing Hamas, the US Wants to Officially Treat Crypto Anonymity Services as Suspected Money Launderers

Reported by ANDY GREENBERG HAMAS’ ATTACKS AGAINST Israel on October 7 have shifted the geopolitical landscape and triggered a looming Israeli ground assault in the Gaza Strip. Now the ripple effects are reaching the cryptocurrency industry, where they’ve become the United States Department of the Treasury’s rallying cry for a crackdown on cryptocurrency anonymity services. The US Treasury’s […]

Written by FinCrime

U.S. Sen. Warren Demands Action on Crypto’s Role in Financing Terrorism

Reported by OLIVER DALE A bipartisan group of over 100 lawmakers is pressuring the Biden administration to address the growing use of cryptocurrencies to finance terrorist activity. This comes after recent reports found the Palestinian militant group Hamas received tens of millions in crypto donations in recent years. The legislators, led by Senators Elizabeth Warren (D-MA) and […]

Written by FinCrime

G7 considers sanctions against Russian diamonds – Reuters

Reported by Ukrainska Pravda This week, the Group of Seven (G7) countries will discuss four options for sanctions against Russian diamonds to deprive Russia of an important source of income that helps finance the war against Ukraine. At the meeting of technical representatives of the G7, the participants will discuss four proposals on sanctions against […]

Written by FinCrime

Restart of Venezuela, opposition talks could lead to US sanction relief

Reported by Mayela Armas, Matt Spetalnick and Marianna Parraga Venezuela’s government and opposition plan to resume long-suspended talks on Tuesday, and Washington is ready to ease sanctions if President Nicolas Maduro commits to an internationally monitored election next year, multiple sources said on Monday. The U.S. has long said it would lift some sanctions in […]

Written by FinCrime

The Latest in the SEC’s Off-Network Communications Enforcement Sweep

Reported by Katherine Doty Hanniford, Paul Monnin, and Albert Stieglitz, Jr. On September 29, 2023, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers for what the SEC described as “widespread and longstanding failures to maintain and preserve electronic […]

Written by FinCrime

How terror group Hamas uses crypto to bypass sanctions

Reported by Agency Staff Hamas, sanctioned as a terrorist organisation by the US, Britain and other countries, had increasingly used cryptocurrencies, credit cards or contrived trade deals to avoid mounting international restrictions, said Matthew Levitt, a former US official specialised in counterterrorism. “Hamas has been one of the more successful users of crypto for the financing […]

Written by FinCrime

The Crypto Exchange Moving Money for Criminal Gangs, Rich Russians and a Hamas-Linked Terror Group

Reported by Angus Berwick The U.S. last year sanctioned a Moscow-based crypto exchange to stymie Russian efforts to evade the financial blockade imposed after the invasion of Ukraine. A year on, the exchange is booming. Despite its place on the U.S. blacklist, which restricts transactions with sanctioned entities, Garantex has become a major channel through which Russians move […]