Laundering

Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a newly unsealed indictment alleges that…

The chief financial officer of the Epoch Times, a right-wing news outlet, has been arrested and charged with laundering $67 million in criminal proceeds through the use of cryptocurrency, the Department of Justice said Monday.Weidong…

The U.S. Department of Justice (DoJ) has charged two arrested Chinese nationals for allegedly orchestrating a pig butchering scam that laundered at least $73 million from victims through shell companies. The individuals, Daren Li, 41,…

Two people, including a Los Angeles County resident, were arrested for allegedly laundering over $73 million through cryptocurrency scams. The suspects were identified as Yicheng Zhang, 38, from Temple City and Daren Li, 41, a…

Binance, the world's largest cryptocurrency exchange, and rival KuCoin became the first offshore crypto-related entities be approved by India's anti-money laundering unit, months after being banned for "operating illegally."The two have…

New legislation is on the way to target mixers as money-laundering tools, according to Rep. Sean Casten, who also highlighted Tether as the favorite token for illicit finance.New legislation is on the way to target mixers as…

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Recent findings by the United Kingdom authorities have highlighted the growing concern about crypto firms’ susceptibility to financial crimes, especially money laundering. According to a report from the UK Treasury on May 1,…

As a test of their resulting AI tool, the researchers checked its outputs with one cryptocurrency exchange—which the paper doesn't name—identifying 52 suspicious chains of transactions that had all ultimately flowed into that exchange.…

Crypto.com said it’s postponing a planned launch in South Korea after local news outlet Segye Ilbo reported on Monday that the exchange platform was facing an “urgent on-site inspection” over money laundering concerns.The report said…