Reported by Craig Silverman and Peter Elkind Christy Browne was in a panic. The man on the phone said he was from the FBI. He warned her that drug traffickers had obtained her Social Security number and were using it to launder money. He said the FBI needed money to catch them. “They told me […]
Reported by PAOLO CONFINO JPMorgan Chase CEO Jamie Dimon is done talking about Bitcoin—again. In a CNBC interview from Davos, a visibly amused Dimon declared he was swearing off opining about the crypto currency. When asked about the new Bitcoin ETF the Securities and Exchange Commission approved last week, Dimon interrupted CNBC host Andrew Ross Sorkin, also of The […]
Reported by HELEN PARTZ Major stablecoin firm Tether has responded to a United Nations (UN) report highlighting the alleged involvement of its Tether USDT $1.00 stablecoin in illicit activity. On Jan. 15, the Southeast Asia and the Pacific division of the UN Office for Drugs and Crime (UNODC) issued a report on the use of cryptocurrencies in […]
Reported by Veronika Bondarenko While airlines will reward big spenders who collect a lot of miles with perks ranging from a free suitcase to free ticket changes and lounge access, collecting too many too fast can also be a sign of something illicit. That is, at least, what tipped off authorities trying to trace the origins of smugglers illegally moving […]
Reported by Scott Chipolina Tether, one of the world’s largest cryptocurrency platforms, has emerged as one of the leading payment methods for money launderers and fraudsters operating in south-east Asia, the UN has warned. According to a report published on Monday by the UN’s office on drugs and crime, Tether’s crypto token, also known as […]
Reported by Rich Stanton The US Securities and Exchange Commission (SEC) has approved Bitcoin exchange-traded products (ETPs) following years of opposition—though not without stern warnings about the “myriad risks” of investing in cryptocurrency. The news was greeted with enthusiasm by crypto-lovers and has led to a minor spike in Bitcoin’s value, with one Bitcoin being worth around $44,000 […]
Reported by Oluwapelumi Adejumo Genesis Global Trading, a prominent cryptocurrency firm, has settled with the New York Department of Financial Services (NYDFS). As part of the agreement, Genesis Global Trading will relinquish its authorization to carry out operations within the state. In a January 12 statement, Genesis consented to pay the New York financial regulator an […]
Reported by Margot Patrick bc They looked like ordinary tourists with very big bags. But like a network of ants, they carried off tens of millions of dollars in cash from London to Dubai. British crime fighters cracked a money-laundering network that they say moved more than £100 million, equivalent to $125 million. A London […]
Reported by Katherine Doherty and Edward Ludlow Nasdaq Inc. is throwing its weight behind technology that protects against financial crime as the demand to stop sophisticated, bad actors rises, according to Chief Executive Officer Adena Friedman. “We are investing in the technology in a very significant way,” Friedman said Wednesday at the Consumer Technology Associationconference in Las […]
Reported by Jim Wyss In the tropical paradise of Saint Kitts and Nevis, it isn’t the visitors to its golden shores and pristine beaches who sustain the economy. It’s those buying its navy blue passports. For as little as $100,000,foreigners can secure citizenship in certain Caribbean nations that promise tax breaks and visa-free travel to Europe. In […]
Financial Crime News Briefs 