Money Laundering News

Every government in the world is afraid of the relative anonymity of virtual money. The explanation of that is that a government’s financial organs can’t find a viable path to minimize the risks related to the financing of terrorism and cryptocurrency money laundering. But the truth is that Bitcoin money laundering is not widespread. For instance, less than 1% of transactions between 2013 and 2016 were with cryptocurrencies of illegal origin while 2-5% of worldwide GDP is laundered annually. Due to the character of a public blockchain and the need to transfer virtual money to fiat, Bitcoins can indeed be controlled much easier. Therefore, cryptocurrency money laundering is a really complex process where even absolute anonymity is not a key to success.

News
The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate.
Bulgarian exchange owner convicted over auction fraud scheme
Samuel Haig
2020-09-29T02:50:05+01:00
4286
Opinion
The rise of crypto-related crimes and money laundering cases is the result of the increasing mass crypto adoption.
Crypto crimes are no excuse for taking away digital asset fungibility
Gregory Klumov
2020-09-26T10:00:00+01:00
3610
News
Had it been Coinbase or Nexo, he agreed with speculation that law enforcement would have been knocking on the door the next day.
Nexo founder feels vindicated by the FinCen leak, talks of double-standards
Michael Kapilkov
2020-09-26T01:00:00+01:00
14385
News
Will this legal contradiction be resolved before the deadline?
Mandatory KYC verification may contradict privacy laws in South Korea
Felipe Erazo
2020-09-25T01:01:00+01:00
6885
News
The leaked documents show many banks 'enabling' money laundering.
FinCEN leak suggests new AML measures may not go far enough… for banks
Turner Wright
2020-09-21T10:00:00+01:00
4415
News
The FATF doesn’t seem to like frequent jurisdiction hoppers, notably Binance.
FATF hints at Binance as example of an exchange avoiding regulation
Andrey Shevchenko
2020-09-14T17:40:00+01:00
6468
News
CipherTrace believes financial institutions are failing to identify up to 90% of suspicious transactions related to crypto assets
Banks failing to identify up to 90% of suspicious crypto transactions
Samuel Haig
2020-09-10T03:17:58+01:00
8694
News
A new mining concept is facing criticism in the blockchain sphere.
‘Exclusive mining’ could have negative implications for the Blockchain industry, say experts
Felipe Erazo
2020-09-07T22:02:00+01:00
13012

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