Tag: Money Laundering

  • Bitcoin
    Bitcoin

    Ex-Fed Chair Yellen Rants Against Bitcoin: “I Am Not a Fan”

    Janet Yellen, former Chair of the Federal Reserve, shared her dislike of Bitcoin in a five-minute speech at CFA Montreal. The ex-central banker mentioned its little transactional volume, connection to terrorist activities as well as money laundering, and inefficiencies for the purpose of processing payments. Janet Yellen Forgets...

    Ricardo Esteves | November 1, 2018 | 12:00 am
  • FATF
    Blockchain

    Global Money Laundering Watchdog to Establish Crypto-Focused Guidelines by June

    The global entity responsible for setting international money laundering guidelines is finally ready to lay the foundation for its first crypto-specific set of rules by June 2019. FATF Readies Global Crypto Regulation on Money Laundering Paris, France-based money laundering watchdog, Financial Action Task Force (FATF), has seen increasing...

    Tony Spilotro | October 19, 2018 | 9:15 pm
  • Crypto
    Technology

    Cryptocurrency Exchange Hacking Jumped 250% YTD, Says Report

    A report on cryptocurrency theft published by cyber security firm CipherTrace found that hacking of exchanges and trading platforms has jumped 250 percent in the first nine months of 2018 on a year-over-year basis, reaching $927 million. $2.5 Billion Laundered on Top 20 Cryptocurrency Exchanges, Says CipherTrace Report...

    Ricardo Esteves | October 10, 2018 | 10:15 pm
  • Crypto
    Technology

    Couple Charged with Money Laundering, NSW Police Call Crypto a Challenge

    The New South Wales Police Force have placed two Sydney residents in custody after they allegedly attempted to launder $300,000 in cash that was suspected to be involved in a string of crimes, by converting them into crypto. Criminal Crypto Converting Couple Charged NSW Police Cybercrime Squad detectives...

    Tony Spilotro | September 27, 2018 | 8:00 pm
  • North Korea
    Bitcoin

    Report: North Korea Is Evading US Sanctions Using Cryptocurrencies

    North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C. North Korea Allegedly...

    Tony Spilotro | September 24, 2018 | 7:00 pm
  • Currencies
    Technology

    International AML Task Force to Close “Gaps” Created by Virtual Currencies

    The Financial Action Task Force (FATF), an intergovernmental organization founded in 1989 on the initiative of the G7 to combat anti-money laundering (AML), may be about to agree with a set of standards to apply to virtual currencies. President Marshall Billingslea is optimistic that the discussions scheduled for October...

    Ricardo Esteves | September 19, 2018 | 7:00 pm
  • London
    Bitcoin

    Police in London to be Given Specialist Training in Cryptocurrencies

    The City of London Police will become the first force in the country to be trained to use cryptocurrencies in an investigative manner. The announcement of the new training scheme comes amid fears that such technologies allow criminals to launder money more easily than before. City of London...

    Rick D. | July 23, 2018 | 6:00 pm
  • Crypto
    Technology

    Crypto Money Laundering Expected to Reach $1.5 Billion in 2018

    A new report has revealed that three times more cryptocurrency has been stolen from crypto exchanges so far in 2018 compared to 2017. Data security company CipherTrace, which released the report, analyse cryptocurrency data to identify illicit money flow and money laundering. Money Laundering Reaches Record Highs Data...

    tim copeland | July 3, 2018 | 8:45 pm
  • FSA
    Industry

    Japan’s Largest Crypto Exchanges to Face the Wrath of the FSA

    Japan’s Financial Services Agency (FSA) will be taking administrative action against several registered cryptocurrency exchange operators in the country. These exchanges include Quoine, Bitbank, BITPoint Japan, BtcBox, and industry leader BitFlyer, who authorities claim don’t have proper internal management systems in place, including measures to prevent money laundering.  FSA...

    Thomas Delahunty | June 19, 2018 | 8:10 pm
  • FSA
    Industry

    Japan’s Financial Watchdog Unveils New Guidelines for Cryptocurrency Exchanges

    In attempts to prevent another Coincheck-like heist, Japan’s Financial Services Agency (FSA) has unveiled stricter standards for cryptocurrency exchanges that register with the financial watchdog. FSA: Stricter Guidelines for Exchanges Unlike neighboring China, the Japanese government has worked to grow the nascent cryptocurrency industry since it began recognizing...

    Thomas Delahunty | May 8, 2018 | 6:00 pm

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