Laundering

U.S. federal prosecutors asked Binance, the world's largest cryptocurrency exchange, to provide extensive internal records about its anti-money laundering checks, along with communications involving its chief executive and founder Changpeng Zhao, according to a late-2020 written request seen by Reuters. The Justice Department's money laundering section asked Binance to voluntarily hand over messages from Zhao and 12 other executives and partners on matters including the exchange's detection of illegal transactions and…

Nigeria’s new Money Laundering Prohibition and Prevention Act 2022 became law in May. It contains key provisions that are relevant to business startups in the country. Below are important provisions every startup should know about in the legislation. Cash Limit: The law says no person or business (body corporate) shall make or accept cash payment of a sum exceeding N5 million or its equivalent, in the case of an individual; or N10 million or its equivalent, in the case of a body corporate. Such transactions are…

The Delhi High Court on Wednesday allowed a batch of petitions seeking de-freezing of their bank accounts and permission to operate. These petitions were moved in a money laundering case connected with Vivo Mobile India Private Limited.Justice Yashwant Varma after hearing the submissions of the counsels for the petitioner and Enforcement Directorate (ED) granted relief to them subject to certain conditions to be followed by the petitioners including maintaining the amount in question in the bank account on the day of…

Credit: Pixabay/CC0 Public Domain After the FBI completed a lawful search of former president Donald Trump's Mar-a-Lago estate on Aug. 8, 2022, conservative politicians responded with one of three strategies: silence, circumspection and attack. …

Yogita Khatri / The Block: Dutch authorities arrest a Tornado Cash developer suspected of involvement in concealing money laundering, two days after the US sanctioned the crypto mixer — - The Tornado Cash developer arrested by Dutch authorities on Wednesday is Alexey Pertsev, his wife has confirmed to The Block. Yogita Khatri / The Block: Dutch authorities arrest a Tornado Cash developer suspected of involvement in concealing money laundering, two days after the US sanctioned the crypto…

Image Source : PIXABAY Twitter An ex-employee of Twitter named Ahmad Abouammo has been found guilty by the US court for accessing private information in the accounts of certain Twitter users. Ahmad had been leaking the data and providing that information to the officials in Saudi Arabia. Abouammo and Ali Alzabarah are the two Twitter employees and a Saudi national Ahmed Almutairi, named as Ahmed Aljbreen, were charged in 2019 for acting as an…

Funds were detected through more than 20,000 suspicious activity reports flagged by the South American country's financial crimes unit for over three years, officials say. Colombia's penal code outlines 66 types of crimes linked to money laundering including drugs and arms trafficking, customs fraud and people…

Tornado Cash has been one of several mixers to be cited by U.S. officials for allowing sanctioned entities to use their services to launder crypto.Photo: mykhailo pavlenko (Shutterstock)Crypto mixers have caught the hot end of the stick that is the U.S.’ efforts to sanction North Korea, thanks to their inability to stopDPRK-affiliated groups from using their services to launder ill-gotten gains.On Monday, the U.S. Department of the Treasury sanctioned virtual asset mixer Tornado Cash, saying that, all in all, it’s been…

The US Department of the Treasury has added the Tornado Cash crypto mixer to a list of sanctioned organizations, barring all US citizens from interacting with it and requiring that US assets belonging to Tornado Cash be reported to the Office of Foreign Assets Control. The announcement was made on Monday morning by the Treasury in a press release that cited Tornado Cash’s role in laundering cryptocurrency stolen in major hacks, especially those linked to North Korean hacking groups. In March, $625 million was stolen…

The Enforcement Directorate (ED) on Thursday conducted searches at premises linked to the DC Motors owner Dilip Chhabria. The searches were conducted at six premises located in Mumbai and Pune. Post the searches, the ED has registered a money laundering case against Dilip Chhabria. While there is no official statement from ED or DC Motors on the development, a source of India Today confirmed the news. ED has registered the money laundering case on the basis of cases filed in 2020 by the Crime Intelligence Unit (CIU)…