money laundering

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon reiterated on Wednesday his long-standing opposition to Bitcoin (CRYPTO: BTC) and other cryptocurrencies, going so far as to suggest the government should shut down the industry. Dimon, testifying before a U.S. Senate...

The U.S. Department of Justice is currently in discussions with crypto exchange Binance Holdings Ltd. (CRYPTO: BNB) over a potential resolution to an extensive investigation. What Happened: The allegations against Binance include money laundering, bank fraud, and sanctions violations....

In a major crackdown, the FBI arrested three persons for allegedly orchestrating a complex $10 million bank fraud scheme. U.S. Attorney Damian Williams and FBI Assistant Director James Smith announced the arrests of the three persons identified as Zhong Shi Gao, Naifeng Xu and Fei Jiang...

The Electronic Investigation Team of the Criminal Bureau in Taiwan has nabbed an individual suspected of laundering a record $320 million through digital assets, making it the largest single case of crypto-related money laundering in Taiwan. What Happened: The suspect identified by the surname Qiu...

The European Banking Authority (EBA) and the European Securities Markets Authority (ESMA) have jointly rolled out a consultation paper, outlining draft guidelines on the suitability assessment of members of the management body of issuers of asset-referenced tokens (ARTs), commonly known as...

The European Union's regulatory body expressed concerns over the potential for global cryptocurrency firms to exploit regulatory discrepancies among member states. This came to light before the Markets in Crypto Assets regulation (MiCA) was slated to be in effect by December 2024...

Crypto exchange Bitfinex is partnering with digital asset custodian Zodia Custody. What Happened: The agreement will allow Zodia's clientele to execute trades on Bitfinex while ensuring their assets are maintained via Interchange, an off-exchange settlement solution. Clients who hold...

In a bid to streamline the burgeoning digital currency landscape, Taiwan's Financial Supervisory Commission (FSC) has rolled out a comprehensive set of guidelines. The rules are tailored for virtual asset platforms and transaction business enterprises, or VASPs. The forthcoming Benzinga...

In the aftermath of a substantial money laundering scandal involving S$2.4 billion ($1.8 billion) last month, banks based in Singapore have increased their vigilance towards clients of Chinese origin who possess foreign passports. What Happened: According to sources, several financial institutions...

Karl Sebastian Greenwood, co-founder of the infamous OneCoin cryptocurrency, has been sentenced to 20 years in prison for his role in orchestrating one of the largest cryptocurrency fraud schemes in history. The fraudulent operation, which began in 2014 and was based in Sofia, Bulgaria, deceived...

A Turkish court sentenced Faruk Fatih Ozer, the former head of the Thodex cryptocurrency exchange, to a staggering 11,196 years behind bars. The court's decision, announced this Thursday, was based on multiple charges, including aggravated fraud, money laundering, and heading a criminal group,...

The founders of Tornado Cash, Roman Storm and Roman Semenov, have been indicted for allegedly operating a cryptocurrency mixer that laundered more than $1 billion, including funds from the notorious North Korean cybercrime group, Lazarus Group. U.S. Attorney Damian Williams said that Tornado...

Bitget will soon require new users to undergo level 1 KYC (Know Your Customer) verification. Starting Sep. 1, users will have to provide an identification document, such as a passport, and undergoing facial recognition. Current users are given until Oct. 1 to fulfill this requirement. See Also:...

Singapore's National Intelligence Service (NIS) is reporting that North Korean hackers have illicitly acquired over $180 million in cryptocurrency in the first half of 2023 alone. This adds to the staggering $1.5 billion in virtual assets North Korea has allegedly stolen since 2015. The NIS...

Singapore's law enforcement detained 10 individuals, predominantly holding Chinese passports, on allegations of money laundering, capturing assets valued around S$1 billion ($735 million), which encompassed cryptocurrencies. On Wednesday, local police disclosed that these arrests were linked to...