Taiwan To Implement Strict Crypto AML Regulations on Nov. 30
The AML rules were set to go into force next year, but recent breaches have spurred the FSC to speed up its implementation. Taiwan’s Financial Supervisory Commission (FSC) is set to enforce new anti-money laundering (AML) rules for cryptocurrency service providers starting November 30. These regulations require crypto exchanges and virtual asset service providers (VASPs) to register […]
FINMA Warns of Money Laundering Risks with Crypto
The Financial Market Supervisory Authority of Switzerland has warned about the dangers of cryptocurrency-related money laundering. According to the regulator’s 2024 Risk Monitor report, stablecoins and other cryptocurrencies are being used more frequently for cyberattacks, payments for illicit dark web activity, and avoiding sanctions associated with geopolitical events. Anti-money laundering measures have been made more […]
Binance Exec Exit Nigeria After Final Charges Get Dropped
Binance’s head of financial crime compliance, Tigran Gambaryan, returns home for medical treatment after eight months in Nigeria and court delays. Tigran Gambaryan, a Binance executive previously facing charges of tax evasion and money laundering in Nigeria, has left the country after spending eight months in detention. In a statement, a family spokesperson confirmed that Gambaryan […]
US Targets Russian Crypto Laundering Ring, Seizes $7M
The US DOJ has indicted Sergey Ivanov and Timur Shakhmametov for operating a massive crypto laundering network. The United States Department of Justice announced that it had indicted two Russians for what it described as a Russian crypto laundering network that involved the laundering of multiple millions of dollars. The operation involved billions of dollars […]
Brazil Police Bust $9.7b Crypto Laundering Scheme
In a massive financial crime investigation, Brazilian authorities found a $9.7 billion cryptocurrency laundering network and arrested several people. Authorities in Brazil have taken decisive action against a cryptocurrency-based, multi-billion dollar money laundering network operating in several cities, including São Paulo, Fortaleza, and Brasília. Blockchain forensic company TRM Labs revealed in a blog post on […]