Reported by Sam Cavanaugh Earlier today, the Department of Justiceannounced that Jin Hua Zhang, a 36-year-old man from Staten Island, New York, plead guilty to charges related to his role as the leader of an international money laundering conspiracy. The intricate operation involved not only money laundering, but also the distribution of large quantities of […]
Reported by Jonathan Browning and Upmanyu Trivedi A fintech owner in London is facing allegations that he helped notorious drug traffickers attempt to launder hundreds of millions of euros through a crypto exchange platform on a scale rarely seen by European prosecutors. Authorities in Belgium are seeking the extradition of Caio Marchesani from the UK […]
Reported by JEFF JOHN ROBERTS Binance says it provided data that led to the capture of ISIS members in Turkey and Tajikistan. Anton Petrus—Getty Images The world’s largest cryptocurrency exchange says intelligence discovered by its investigations team led to the arrest of senior members of Islamic State of Khorasan Province, or ISKP, a branch of […]
Reported by Elizabeth Lopatto Photo by Amelia Holowaty Krales / The Verge Tornado Cash developers Roman Semenov and Roman Storm have been charged with three conspiracy counts in an indictment unsealed today. Storm has been arrested and Semenov remains at large, according to a statement from the Southern District of New York. Tornado Cash is […]
Reported by Michelle Nichols North Korea continued developing nuclear weapons and producing nuclear fissile material in 2023 and evading United Nations sanctions that aim to cut off funding for Pyongyang’s nuclear and ballistic missile programs, according to an unpublished United Nations report seen by Reuters on Thursday. “After a record-breaking level of cyber thefts in […]
Reported by Ari Redbord A recent tweet by venture capitalist and Coinbase board member Kathryn Haun, responding to Senator Elizabeth Warren’s AML bill, called out the ineffectiveness of AML in traditional finance. Haun, a former federal prosecutor, wrote: “We need something better. Senators that genuinely care about national security will work collaboratively with TradFi and crypto to […]
Reported by Keith Blackman In the span of 24 hours, the Securities and Exchange Commission opened fire against two cryptocurrency giants. On June 5, it fileda wide-ranging, 13-count complaint against Binance—the world’s largest cryptocurrency exchange—along with its founder Changpeng Zhao. The SEC alleged that Binance failed to register as a securities exchange, conducted unregistered securities offerings, […]
Reported by André Beganski Anti-money laundering (AML) rules are not a panacea for dealing with tax cheats and criminals who try to cover their tracks with crypto—but they’re a logical place to start, according to a paper published by the International Monetary Fund (IMF) on Wednesday. The paper was authored by members of the IMF’s Fiscal Affairs […]
Reported by Pedro Solimano Crypto exchange Kraken must provide a wide variety of information about its users to the Internal Revenue Service (IRS), according to a ruling in theU.S. District Court of Northern California yesterday. According to a Friday court filing, the company will need to produce full documentation for any Kraken user that bought, sold, or traded […]
Reported by LEO SCHWARTZ On Friday, Gurbir Grewal, the SEC’s director of enforcement, pushed back against criticism from industry participants that his agency is engaging in “regulation by enforcement,” arguing that crypto represents a “perfect storm of investor risk” that needs to be addressed through existing securities law. null At an event in Midtown Manhattan hosted […]
Financial Crime News Briefs 