Laundering

American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.Senior counsel appearing for PayPal argued before a bench headed by Chief Justice Satish Chandra Sharma that the order passed by a single judge of the high court was “wrong”.Senior advocate Mukul Rohatgi, appearing for the appellant, also said that the single…

A social-media rapper, who dubbed herself the “Crocodile of Wall Street,” and her husband have reached a plea deal with prosecutors in a case that involved laundering billions of dollars of stolen Bitcoin, according to a court filing and a person familiar with the matter.Heather Morgan and Ilya Lichtenstein are scheduled to appear for a plea hearing on Aug. 3, more than a year after they were charged, according to a filing Friday in federal court in Washington. The couple were arrested in February 2022, but requested…

Booking photos for Heather Morgan and Ilya Lichtenstein.Courtesy: Alexandria Adult Detention Center.The New York couple charged with trying to launder $4.5 billion in bitcoin stolen in a 2016 hack of Bitfinex appear set to plead guilty in the case.The couple, Ilya Lichtenstein and Heather Rhiannon Morgan, have been newly charged in the case with a document known as an information, according to a new Washington, D.C., federal court docket entry Friday.An information is a type of charging document that federal prosecutors…

The US Department of Justice announced today that it charged two Russian nationals for crimes related to the 2011 hacking of Mt. Gox, the now-defunct crypto exchange that was one of the world’s largest at the time. Alexey Bilyuchenko and Aleksandr Verner are accused in the Southern District of New York (SDNY) of laundering about 647,000 bitcoins connected to the heist. In addition, Bilyuchenko faces separate charges in the Northern District of California (NDCA) related to running the infamous Russian crypto exchange…

Analytics Insight has listed the top 10 current cryptocurrency prices for May 24, 2023 From June 1, lawmakers in Japan will impose more stringent Anti-Money Laundering (AML) regulations to track Bitcoin transactions. The Japanese parliament decided on May 23 to implement stricter AML regulations starting next month, according to a report from the local media agency Kyodo News the same day. Analytics Insight has listed the top 10 current cryptocurrency prices as of May 24, 2023. Bitcoin- US$26,745.41 (Down by 2.39%)…

India's anti-money laundering investigation agency conducted searches at offices of Byju's, the country's most valuable startup, as part of a probe and has seized documents. The Enforcement Directorate officials, mandated to investigate money laundering and forex violation cases, searched the Bengaluru-based startup's offices and seized documents and digital data, the agency said in a Twitter post. The probe is happening under Foreign Exchange Management Act, it said. The investigations come at a time when the company,…

Australia's financial crime regulator said on Friday it accepted an enforceable undertaking from payments giant PayPal Holdings' local unit to ensure its compliance with the country's anti-money laundering and counter-terrorism financing laws.In 2019, AUSTRAC, which is tasked with ensuring compliance with the laws, had ordered PayPal Australia Pty Ltd to appoint an external auditor to look at fund transfers after the regulator identified concerns with its reporting obligations."PayPal Australia self-identified a reporting…

The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.The federal probe agency said in a statement that the special Prevention of Money Laundering Act (PMLA) court based in Bengaluru has taken cognisance of the prosecution complaint (charge sheet). A total of seven entities and five…

The Enforcement Directorate Friday said it has filed a charge sheet against payment gateway Razorpay, three fintech companies controlled by Chinese nationals and as many NBFCs and some others in a money laundering probe linked to Chinese loan apps which allegedly cheated numerous people.The federal probe agency said in a statement that the special Prevention of Money Laundering Act (PMLA) court based in Bengaluru has taken cognisance of the prosecution complaint (chargesheet).A total of seven entities and five individuals…

Federal prosecutors in the U.S. Attorney’s Office for the Southern District of New York investigated whether Donald Trump’s social media company violated money laundering statutes in connection with the acceptance of $8 million with suspected Russian ties, according to a new report. Sources told The Guardian that towards the end of last year, federal prosecutors began examining two loans that were wired to Trump Media and Technology Group through the Caribbean from two entities that appeared to be controlled in…