PYMNTS

MAY 8, 2019

The site’s alleged co-owners, Tal Prihar and Michael Phan, who are both Israeli, were charged with one count of conspiracy to commit money laundering. The indictment said the pair made around 8,155 bitcoins, which at their peak were worth upwards of $15.4 Deep Dot Web “received a commission on all of those users’ purchases.”.

Money Laundering 49

Money Laundering Authorization Law Enforcement Encryption 49

PYMNTS

MARCH 7, 2019

In other news, blockchain security company CipherTrace revealed details of the first Canadian court case to use a bitcoin expert witness. As a result, the Ontario Attorney General is seeking to confiscate 288 bitcoins. “As billion coming from the SamSam attack.

Bitcoin 59

Bitcoin Ransomware Law Enforcement Blockchain 59

PYMNTS

JANUARY 13, 2020

JPMorgan Chase said the launch of CME Group options is building and there is the anticipation of institutional interest in Bitcoin-related contracts. The Fifth Anti-Money Laundering Directive or AMLD5 is set. The regime gives greater power and reach to financial intelligence units and law enforcement.

Bitcoin 60

Bitcoin Posting Law Enforcement Money Laundering 60

PYMNTS

AUGUST 3, 2018

After a federal jury found him guilty of money laundering, Thomas Mario Costanzo has been sentenced to 41 months of imprisonment by U.S. In addition, Snow ruled on the forfeiture of the nearly 81 bitcoins Costanzo provided to an undercover agent in a money laundering transaction then worth $107,000. Murray Snow.

Bitcoin 40

Bitcoin Money Laundering Law Enforcement Cryptocurrency 40

PYMNTS

OCTOBER 11, 2018

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). The country’s central bank added that it would improve its own supervision process for fighting money laundering and terrorism financing.

Central Bank 43

Central Bank AML Money Laundering Regulations 43

PYMNTS

JULY 12, 2019

The move comes after the Canadian government decided to ease up on some of its new anti-money laundering regulations due to feedback from payment service providers and crypto exchanges. As a result, the platforms are now classified as money service businesses (MSBs).

Bitcoin 40

Bitcoin ATM Rules AML 40

PYMNTS

MARCH 27, 2017

But developers are working to bring the seedier side of bitcoin to a close. Chainalysis collaborates with Europol to link digital identities to digital currency, helping banks and law enforcement investigate suspicious activity. “We The investigation can now proceed from where it used to stop before ….

Cryptocurrency 44

Cryptocurrency Law Enforcement Money Laundering Security 44

PYMNTS

FEBRUARY 26, 2019

federal law enforcement agencies have recovered $110,000 worth of stolen bitcoin, and returned it to cryptocurrency exchange Bitfinex. bitcoin — is just a small portion of the amount stolen by hackers in August 2016. That amount — totaling 27.7 ZDNet reported that the two are building a prototype to test it out.

Bitcoin 43

Bitcoin Blockchain Cross-Border Law Enforcement 43

PYMNTS

OCTOBER 18, 2019

Thus, for criminals, at times bitcoin and other cryptos are a conduit to money laundering, ransomware and, at times, just trying to hide in plain sight. In news at the end of this week, the largest child pornography site in the world has been shuttered — and had operated across the Dark Web, funded by bitcoin.

IRS 41

IRS Law Enforcement Bitcoin Money Laundering 41

PYMNTS

JULY 16, 2019

Treasury and the Home Office wants to change the way economic crime is handled by boosting cooperation between government, law enforcement and the private sector. “To had one of the toughest systems for combating money laundering and terrorist financing of over 60 countries it has assessed to date. It also includes £6.5

Credit Cards 40

Credit Cards Crime Law Enforcement Blockchain 40

PYMNTS

NOVEMBER 26, 2018

The statements from Rosenstein come as a study from the Wall Street Journal found that of 2,500 crypto-related crimes tied to bitcoin and Ethereum, $90 million of funds found their way through crypto intermediaries, laundered across 46 exchanges. Brexit Deal Awaits Vote. as their home base must have EU subsidiaries in place.

Crime 58

Crime Money Laundering Law Enforcement Correspondent Bank 58

Fintech News

FEBRUARY 10, 2025

Cybercrime syndicates leverage the regions high mobile penetration and relatively young, tech-savvy population to execute scams, exploitative trading schemes, and money laundering operations. All due to weak enforcement mechanisms and the difficulty of tracking blockchain-based transactions.

Crime 91

Crime Ransomware Scams Phishing 91

PYMNTS

SEPTEMBER 11, 2019

For gift cards, once they have the pictures of the cards from the victims, they sell the cards on gift card exchanges where they can sell the cards to bitcoin. Actors usually get around 70 percent of the face value of the card in bitcoin.”. It’s gone,” the report stated. Fraud Crackdown. That said, the U.S.

Scams 65

Scams Email Compromise Compromise Wire 65

PYMNTS

SEPTEMBER 10, 2019

Netki announced that it has upgraded its digital identity service so that cryptocurrency firms can meet AML recommendations by the Financial Action Task Force (FATF) for fighting money laundering. In other news, crypto trading platform BitMEX has lost its chief operating officer (COO).

AML 40

AML Compliance Law Enforcement Money Laundering 40

PYMNTS

JANUARY 8, 2018

Bitcoin turned nine, and was celebrated by seeing its price per coin exceed $20,000. Therefore, today’s memo on federal marijuana enforcement simply directs all U.S. Neu is not Nigerian, but the police stated that money acquired by Neu was wired to people in Nigeria. So, what did we learn this week?

Tax Refunds 42

Tax Refunds Scams Wire Wires 42

PYMNTS

MAY 15, 2017

That means bitcoin. What Does Any of This Have To Do With Bitcoin? Bitcoin is a fascinating technology on the merits. Bitcoin uses math — and math equations that anyone can solve and see — to provide this cash-like feature. And why we might need to channel our inner Frances Kelsey to help get us there.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62

PYMNTS

JANUARY 21, 2021

No individual agency controls blockchain-based financial networks, and it’s hard to enforce adherence to money laundering legislation. and abroad have concentrated on bitcoin exchanges that facilitate trading, enabling law enforcement to follow the money via the blockchain network's open payment ledger.

Treasury 112

Treasury Law Enforcement Federal Reserve Money Laundering 112

PYMNTS

JULY 31, 2020

In addition to Clark, Mason Sheppard, aka “Chaewon,” 19, of the United Kingdom, was charged with conspiracy to commit wire fraud, money laundering and the intentional access of a protected computer. The trio allegedly compromised more than 100 social media accounts and scammed the account users into sending bitcoin to a single wallet.

Law Enforcement 98

Law Enforcement Scams Money Laundering Laws 98

PYMNTS

OCTOBER 31, 2016

Then, wrongdoers, said Guidette, are only sometimes outed by law enforcement or the press, to the dismay of business owners and banks. As for bitcoin, the cryptocurrency is no Holy Grail of security, Webster and Guidette agreed.

Payments 73

Payments Acquirers Risk Underwriting 73

PYMNTS

NOVEMBER 19, 2018

laws for anti-money laundering (AML) regulate digital currencies, per CoinDesk. He also noted that the Financial Action Task Force (FATF) “urges all nations to make clear that global anti-money laundering standards apply to virtual currency products and service providers.”. As it stands, the U.S.

Money Laundering 59

Money Laundering Regulations Digital Currency Law Enforcement 59

PYMNTS

SEPTEMBER 28, 2018

For years, law enforcement has feared that bitcoin could make money laundering easier. The newspaper claimed it developed computer applications to discover the extent of money laundering through digital currency. million worth of funds were laundered via 46 exchanges.

Consumer Financial Protection Bureau (CFPB) 76

Consumer Financial Protection Bureau (CFPB) Money Laundering Law Enforcement Federal Trade Commission 76