Singapore probes illegal Worldcoin accounts and token sales
Singapore investigates unauthorized Worldcoin account sales as regulators raise concerns over data misuse and criminal activity. Go to Source
Money Laundering
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87% of crypto registrations failed in UK over ‘weak’ fraud, AML controls
Only 4 out of 35 crypto business registrations were accepted by the UK Financial Conduct Authority citing concerns with money laundering adherence. Go to Source
China Urged to Establish Unified Crypto Regulations for Seized Digital Assets
A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensive guidelines and international cooperation to manage … Read more
Binance exec’s trial brought forward despite no access to legal counsel
Amidst multiple alleged money laundering charges, the Nigerian government claims that Binance was responsible for the decline of its Naira currency. Go to Source
Washington Man Faces Charges in $64 Million Crypto Laundering Scheme
A Washington resident has been charged with involvement in a $64 million cryptocurrency laundering scheme. He allegedly deceived investors, posing as an escrow agent, and transferred funds into his accounts. The funds were moved offshore or converted to cryptocurrencies such as bitcoin and ethereum via exchanges like Gemini, Bitstamp, Coinbase, and Binance. Investigators traced the … Read more
France Charges Telegram’s Pavel Durov, Sets Bail at €5 Million
Telegram’s founder and CEO, Pavel Durov, is still in hot water in France, facing multiple criminal charges linked to activities on his messaging platform. The French court reportedly set his bail at €5 million, and he’s now prohibited from leaving the country. French Authorities Charge Telegram CEO Durov After Durov was taken into custody last … Read more
Russian Cybercriminal Extradited to US in Crypto Crime Case
A Russian cybercriminal, Deniss Zolotarjovs, has been charged in the U.S. with crimes related to his involvement in a cybercrime organization known for extorting victims and laundering cryptocurrency. The 33-year-old Moscow resident was indicted in Cincinnati, Ohio, on charges of conspiracy to commit money laundering, wire fraud, and Hobbs Act extortion. Arrested in Georgia in … Read more
Man Faces 20-Year Prison Sentence in Crypto Money Laundering Case
A Rhode Island resident has pleaded guilty to money laundering conspiracy linked to an international drug trafficking ring. The operation laundered over $25 million using cryptocurrency, with Villa directly involved in converting cash into crypto. Villa faces up to 20 years in prison and a significant fine. Rhode Island Man Pleads Guilty in $25 Million … Read more
German Authority Seizes 13 Unauthorized Crypto ATMs
Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five … Read more
Highest Court of China Moves to List Virtual Asset Transactions as a Money-Laundering Tool
The Supreme People’s Court of China, the highest court of law in the country, and the Supreme People’s Procuratorate have issued a joint document that interprets the current money laundering law and defines several issues related to its application. In this interpretation, the two organizations list virtual asset transactions as one of the tools available … Read more
