Abu Dhabi court sentences 9 accused in crypto money laundering to Jail
Using crypto as a means of money laundering is gradually becoming a thing and countries are not taking regulations against it lightly. An Abu Dhabi court in this light has sentenced nine individuals to jail. A criminal court in Abu Dhabi convicted nine crypto money launderers to a decade in prison and punishment of Dh10 […]
Brazilian police seize $33M in crypto money laundering case
In a quest to stop activities of money laundering in the state using crypto exchanges, the Brazilian civil police have seized R$172 million ($33 million in US dollars), from different exchanges. Brazilian police executed six search warrants during the “Exchange” investigation in Sao Paulo and Diadema, following which the Brazilian judiciary ordered freezing accounts and […]
Irish Banks are pleased with the EU’s anti-money laundering regulations
Banks in Ireland have voiced support for the European Union’s anti-money laundering push, they believe this will affect the crypto space and also disrupt illicit transactions. According to the Irish daily Independent , financial institutions in Ireland have indicated support for plans to revamp the European Union’s anti-money laundering measures. The new AML body that […]
Hong Kong Cracks Down on a Money Laundering Ring Using Tether
Four persons have been arrested in Hong Kong on suspicion of laundering a total of $155 million using cryptocurrency wallets and bank accounts. The city’s customs agency stated that this was the first time it had encountered virtual currency being used to launder dirty money. A Syndicate Responsible for Money Laundering Recycles $155 Million in […]
Another $250 million worth of crypto confiscated by U.K police in London
The usage of cryptocurrency to launder illegal money in London has reached a new peak, with British police seizing $250 million in an unidentified cryptocurrency today. In its most recent operation, the Metropolitan Police Service of London seized a record $249 million (£180 million) in cryptocurrency as part of a larger investigation into international money […]