Reported by: Anushree Dave The U.S. Securities and Exchange Commission on Friday said it charged former NBA star Paul Pierce with promoting EMAX crypto tokens, sold by EthereumMAX, on social media, without disclosing that he was receiving payment for the promotion and for making possible misleading statements about the asset. The agency said that Pierce, […]
Reported by: Prinesha Naidoo South Africa’s government and state-owned companies will find it harder to borrow money, while banking and asset-management fees may increase if the country is added to a global watchdog’s list of nations with shortcomings in tackling illicit financial flows. The Financial Action Task Force, which polices compliance with anti-money laundering and […]
Reported by: Jasmine Sheena WESTPORT — A Westport resident has been charged with conspiracy, multiple counts of violating the Foreign Corrupt Practices Act and money laundering, the U.S. Attorney’s Office for the District of Connecticut said Friday. Glenn Oztemel, 64, is accused of bribing officials affiliated with Brazil’s state-owned energy company, Petróleo Brasileiro S.A.-Petrobras, to […]
Reported by: George Glover Binance secretly moved large sums of money from its supposedly independent US partner to a company managed by the crypto giant’s boss Changpeng Zhao, according to Reuters. The publication said Thursday that Binance’s US partner started transferring money to Merit Peak in 2020 and sent the trading firm over $400 million in […]
Reported by: FinTech Global Despite their growing interest across investors, there are still huge challenges around money laundering with NFTs. In a recent post by Alessa, the company explained more about money laundering in the NFT space and how to deal with it. What qualities make the tokens attractive to money laundering? Alessa cited pseudonymous […]
Reported by: Dave Michaels Binance, the world’s largest cryptocurrency exchange, expects to pay monetary penalties to settle existing U.S. regulatory and law-enforcement investigations of its business, the firm’s chief strategy officer said in an interview. Binance grew quickly and began as a business powered by software engineers unfamiliar with laws and rules written to address the […]
Reported by: ZACHARY WARMBRODT Sen. Elizabeth Warren is branding herself as the scourge of crypto. And she’s not doing it alone. The progressive Massachusetts Democrat is starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists, who also want to rein in digital asset startups. Crypto advocates are […]
Reported by: Reuters LONDON (Reuters) -Britain’s financial regulator is investigating Barclays PLC for suspected failings in its compliance and anti-money laundering systems, the Financial Times reported on Friday. The Financial Conduct Authority (FCA) requested an independent review of Barclays’ systems last year after noting the number of anti-money laundering incidents, the newspaper reported, citing people […]
Reported by: SABRINA WILLMER A US law passed after Russia invaded Ukraine has given a boost to a flawed Treasury Department program that lawyers claimed deterred whistleblowers from providing tips on the role of banks in sanctions and anti-money laundering violations. As a result, Treasury’s Financial Crimes Enforcement Network, or FinCEN, has gotten more than […]
Reported by: KEVIN GEORGE The NYDFS ordered Paxos to stop minting BUSD tokens due to “several unresolved issues related to Paxos’ oversight of its relationship with Binance through Paxos-issued BUSD.” This is not the first time that Binance, the world’s largest crypto exchange, has found itself in hot water with U.S. regulators. Binance has been […]
Financial Crime News Briefs 