Former Prosecutor Laurel Rimon On Money Laundering: “What’s Identified Is A Fraction of What Goes On.”

Bitcoin, Blockchain and the Law, Crime, News, Regulation | May 14, 2018 By:

Banks and financial institutions are long accustomed to new and changing regulations aimed at preventing money laundering and terrorist financing. Now, a new set of Customer Due Diligence Requirements issued by FinCEN have taken effect.  

But for emerging “money services business” (MSB) – especially those engaged in cryptocurrency,

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Citigroup Looking For Certified Bitcoin Professionals To Tackle Money Laundering

Announcements, News | April 19, 2018 By:

Financial services giant Citigroup is looking for bitcoin professionals to beef up its anti-money laundering team.

According to LinkedIn job ads, the New York-based financial-services giant is looking for a vice president and senior vice president for its anti-money laundering division to explore risks associated with money laundering in bitcoin and other cryptocurrencies.

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Europol Arrests 11 In Bitcoin Money Laundering Case

Crime, News | April 11, 2018 By:

European law enforcement agency Europol has taken down an alleged criminal organization dedicated to money laundering from drug trafficking through the use of cryptocurrencies.

According to Europol, they had arrested 11 individuals and identified 137 suspects potentially involved in a criminal network. The criminal network operated from Spain and Colombia and is accused of laundering more than €8 million ($9.9M USD),

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Bitcoin Allegedly Used to Fund ISIS

Crime, News | December 15, 2017 By:

A New York woman allegedly laundered more than $85,000 USD through bitcoin and other cryptocurrencies to support the Islamic State group.

Zoobia Shahnaz, a 27-year-old hospital technician, was charged with bank fraud, conspiracy to commit money laundering and three counts of money laundering.

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Cryptocurrency Use Increasing in Cyber Crimes, Agent Claims

Crime, News | December 1, 2017 By:

US Immigration and Customs Enforcement (ICE) agent Matthew Allen said that many of the illicit activities conducted in cyber-enabled crimes are paid for with cryptocurrencies. The statement was part of his testimony for a Senate Committee on the Judiciary hearing, titled “S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing.”

ICE is a US federal government law enforcement agency under the jurisdiction of the Department of Homeland Security (DHS).

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