Tag: Money Laundering

  • Currencies

    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

    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

    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

    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

    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
  • Vancouver

    Vancouver Police Push Government to Enforce KYC/AML Laws with Cryptocurrencies

    The Vancouver Police Department (VPD) has warned Canada’s federal government that cryptocurrencies are increasingly being used by organized crime to launder money. The agency advises that checks and balances are necessary to monitor the digital coins, and pushes for the enforcement of amendments to legislation that would require...

    Thomas Delahunty | April 25, 2018 | 9:01 pm
  • cryptocurrency

    Europol Arrests Gang After Laundering €1 Billion Worth of Bitcoin

    The Spanish police authority announced the arrest of ‘Denis K.’, the suspected leader of a cyber-crime gang who allegedly stole up to 1 billion Euros from banks all around the country, according to Europol. Ukranian-Russian Cybercriminals Caught After Laundering €1 billion Worth of BTC As modus operandi, the gang...

    Ricardo Esteves | March 27, 2018 | 2:21 am
  • Altcoins

    Monero Is the Favorite Cryptocurrency of Cyber Criminals, Study Finds

    A study found that cybercriminals launder $80-$200 billion a year and are moving away from Bitcoin as Monero offers greater anonymity. Cybercriminals Launder Up To $200 Billion Each Year, Says Report Virtualization technology-focused security firm security firm Bromium announced the findings of an independent study into the macroeconomics...

    Ricardo Esteves | March 17, 2018 | 7:44 pm
  • bill gates

    These Are The Reasons Why Bill Gates Is Wrong About Cryptocurrency

    It was widely reported yesterday that the planet’s second richest man, Bill Gates, is no lover of Bitcoin and other cryptocurrencies. The founder of Microsoft claimed that in their short existence digital currencies have already been a “fairly direct” cause of deaths. Gates Slams Cryptocurrencies over Connections to...

    Rick D. | March 1, 2018 | 1:45 am

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