Tag: money laundering

Written by FinCrime

Russian Billionaire Formerly Close To Putin Secretly Poured Money Into US Cannabis, Leaked Documents Show

Reported by: Nina Zdinjak Russian billionaire and a former owner of the Chelsea Football Club, which plays in the English Premier League, Roman Abramovich, has been secretly investing in cannabis companies for years. According to leaked documents, sourced and shared by Forensic News, a Russian oligarch known for his close ties to Russian leader Vladimir Putin has helped fund the two biggest […]

Written by FinCrime

DOJ Investigating $372 Million in Missing FTX Funds, Reports Say

Reported by: Alix Langone The US Department of Justice has launched a criminal investigation into $372 million in stolen FTX assets, according to a new report from Bloomberg.  The probe, which is independent of the fraud case against FTX co-founder Sam Bankman-Fried, centers on more than $370 million that went missing mere hours after the cryptocurrency […]

Written by FinCrime

How to spot NFT scams?

Reported by: Team Giottus Part of the reason why the NFT market is now being looked at with suspicion is the fact that unlike crypto, KYCs are not mandated to trade NFTs. NFT trade happens between wallets and not identified individuals, which makes NFT money laundering a very real possibility. As an investor, how can […]

Written by FinCrime

Ransomware Payouts Declined in 2022: Crystal Blockchain

Reported by: Anna Baydakova Known cryptocurrency payments to ransomware hackers “totaled a mere $16 million, compared to nearly $74 million USD in 2021,” blockchain intelligence firm Crystal Blockchain says. This may be surprising given the fact that the number of ransomware attacks has increasedsince 2021, according to cybersecurity researchers. This year, the notorious Contiransomware gang, known for […]

Written by FinCrime

Associates of FTX founder Sam Bankman-Fried plead guilty to wire fraud, other charges filed by SEC

Reported by: Lawrence Richard FOXBusiness Two former associates of FTX founder Sam Bankman-Fried pleaded guilty to charges the Securities and Exchange Commission (SEC) filed against them Wednesday as part of a multiyear scheme to defraud investors. Former Alameda Research CEO Caroline Ellison, 28, and former Chief Technology Officer of FTX Trading LTD Zixiao (Gary) Wang, 29, secretly […]

Written by FinCrime

Ex-NYU finance director charged with embezzling millions

Reported by: Carmo Moniz and Tori Morales Cindy Tappe, NYU’s former director of finance and research, is facing multiple felony charges after she was found to have redirected millions of dollars in New York state education grants to shell companies over the span of six years. Tappe, who left NYU in 2018 after the university […]

Written by FinCrime

FATF Publishes New Report on Money Laundering from Fentanyl and Synthetic Opioid

Reported by: ComplyAdvantage On November 30, 2022, the Financial Action Task Force (FATF) issued its inaugural report on money laundering from fentanyl and synthetic opioids. Co-led by the US and Canada, the report includes recommendations for prosecutors and law enforcement authorities on countering financial flows from the illicit drug trade. According to the report, criminal […]