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 […]

Written by FinCrime

Sanctions fail to stem Russia’s outbound seaborne trade

Reported by: Bridget Diakun RUSSIA’s outbound seaborne trade remains stable despite successive waves of sanctions levelled against Moscow by the European Union, US and UK. According to Lloyd’s List Intelligence data there were approximately 2,064 vessel departures from Russia to foreign ports in August compared with 2,109 in July. While outbound sailings dropped 10% in response to […]

Written by FinCrime

Swedbank ex-CEO goes on trial over Estonia money laundering scandal

Reported by: Reuters Former Swedbank (SWEDa.ST) Chief Executive Birgitte Bonnesen on Tuesday went on trial in Sweden, charged with fraud over her handling of the lender’s anti-money laundering protocols in Estonia. Bonnesen, who was Swedbank’s CEO from 2016 to 2019, is accused by the prosecution of giving misleading information on several occasions with the intent to cover […]

Written by FinCrime

Landmark U.S.-UK Data Access Agreement Enters into Force

Reported by: U.S. Department of Justice The Agreement between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland on Access to Electronic Data for the Purpose of Countering Serious Crime (“Data Access Agreement” or “Agreement”) entered into force today. The Agreement is authorized […]

Written by FinCrime

Binance launches program to fight crypto crimes

Reported by: Techgh24 Over the past year, the Binance Investigations team has conducted and participated in more than 30 anti-cyber and financial crimes workshops with law enforcement in various countries including Argentina, Brazil, Canada, France, Germany, Israel, Netherlands, Philippines, Sweden, South Korea, the UK among others. The training programme is led by leaders from the […]

Written by FinCrime

SEC Charges The Hydrogen Technology Corp. and its Former CEO for Market Manipulation of Crypto Asset Securities

Reported by: U.S. Securities and Exchange Commission The Securities and Exchange Commission today announced charges against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, a self-described “market making” firm, for their roles in effectuating the unregistered offers and sales of crypto asset securities called […]

Written by FinCrime

Cryptocurrency and anti-money laundering enforcement

Reported by: Katherine A. Lemire While Congress has repeatedly sought to enhance the anti-money laundering (AML) laws and penalties, federal regulators have played a critical role in updating and enforcing these regulations as they apply to cryptocurrency businesses. States, meanwhile, have also inserted themselves into this regulatory mix. The legal and regulatory framework of the […]