Illicit Money

KuCoin has been charged by US prosecutors along with two of its founders for failing to comply with US anti-money laundering rules. One of the world's largest cryptocurrency exchanges, KuCoin was established in 201. It has now been charged with “wilfully failing” to establish and maintain a program to keep the platform from being used for illic...

In a significant development in the Mahadev betting app case, the Enforcement Directorate (ED) has made two more arrests, further intensifying its probe into the alleged money laundering and illicit activities associated with the app.

A court here has granted bail to a man charged under the stringent Maharashtra Control of Organised Crime Act (MCOCA), noting that the prosecution was unable to prove the allegations against him.

Colombian President Gustavo Petro said Saturday that his son Nicolas has been arrested on charges of money laundering and illicit enrichment in a scandal linked to Petro's election campaign.

North Korea, cybercriminals, ransomware attackers, thieves and scammers are using decentralized finance (DeFi) services to transfer and launder their illicit proceeds, the US Treasury Department warned on Thursday. So-called DeFi platforms allow users to lend, borrow and save, usually in cryptoassets and stablecoins, without using banks.

Bitzlato Co-Founder Anatoly Legkodymov was arrested by US authorities in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks,'" according to US officials. Legkodymov's crypto exchange traded money with Hydra Market, an illicit online marketplace for narc...

The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million (nearly Rs. 2, 070 crore) bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday.

Hong Kong, who recently emerged as the most crypto ready nation in the world, has taken a proactive step to ensure that crypto assets are not misused by criminals for moving illicit funds, illegally. The country has amended its Anti-Money Laundering (AML) and Counter-Terrorist Financing (Amendment) Bill 2022, to now include crypto transactions as w...

PM Modi said illicit money is often taken from some of the poorest people in the world, is pushed into evil activities and is one of the major sources of terror funding.

Police have arrested "one of Europe's biggest money launderers" after a raid in southern Spain, saying the British-Irish suspect is believed to have shifted more than 200 million euros ($200 million) in illicit cash.

In Australia, the federal police have formed a new unit whose one-track job would be to sniff out illicit money transfers happening through crypto assets. With increasing scrutiny over the sector, the Australian police force is aiming to delve deeper into understanding the models of organised financial crimes.

Two Indian brothers and their Indian-American friend have been charged in the US in the first ever cryptocurrency insider trading scheme in which they made illicit profits totalling over a million dollars.

The idea behind crypto mixers is to remove any digital signatures associated with a particular trade and maintain privacy of the transaction. In recent days however, scammers and hackers have been exploiting these privacy tools to launder money and clean funds obtained via illicit activities.

Chainalysis, a blockchain analytics firm, has released a new report focusing on illicit activity on blockchains, noting that DeFi protocols are a popular target for hackers and that money laundering in the sector has increased in the last two years.

Three organisations have come together in China to focus on NFTs. These organisations are, the China Banking Association, the China Internet Finance Association, and the Securities Association of China. The group aims to shape up the NFT sector in a way to reduce the chances of them being used as tools to process illicit activities like money laund...

KuCoin has been charged by US prosecutors along with two of its founders for failing to comply with US anti-money laundering rules. One of the world's largest cryptocurrency exchanges, KuCoin was established in 201. It has now been charged with “wilfully failing” to establish and maintain a program to keep the platform from being used for illic...

In a significant development in the Mahadev betting app case, the Enforcement Directorate (ED) has made two more arrests, further intensifying its probe into the alleged money laundering and illicit activities associated with the app.

A court here has granted bail to a man charged under the stringent Maharashtra Control of Organised Crime Act (MCOCA), noting that the prosecution was unable to prove the allegations against him.

Colombian President Gustavo Petro said Saturday that his son Nicolas has been arrested on charges of money laundering and illicit enrichment in a scandal linked to Petro's election campaign.

North Korea, cybercriminals, ransomware attackers, thieves and scammers are using decentralized finance (DeFi) services to transfer and launder their illicit proceeds, the US Treasury Department warned on Thursday. So-called DeFi platforms allow users to lend, borrow and save, usually in cryptoassets and stablecoins, without using banks.

Bitzlato Co-Founder Anatoly Legkodymov was arrested by US authorities in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks,'" according to US officials. Legkodymov's crypto exchange traded money with Hydra Market, an illicit online marketplace for narc...

The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million (nearly Rs. 2, 070 crore) bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday.

Hong Kong, who recently emerged as the most crypto ready nation in the world, has taken a proactive step to ensure that crypto assets are not misused by criminals for moving illicit funds, illegally. The country has amended its Anti-Money Laundering (AML) and Counter-Terrorist Financing (Amendment) Bill 2022, to now include crypto transactions as w...

PM Modi said illicit money is often taken from some of the poorest people in the world, is pushed into evil activities and is one of the major sources of terror funding.

Police have arrested "one of Europe's biggest money launderers" after a raid in southern Spain, saying the British-Irish suspect is believed to have shifted more than 200 million euros ($200 million) in illicit cash.

In Australia, the federal police have formed a new unit whose one-track job would be to sniff out illicit money transfers happening through crypto assets. With increasing scrutiny over the sector, the Australian police force is aiming to delve deeper into understanding the models of organised financial crimes.

Two Indian brothers and their Indian-American friend have been charged in the US in the first ever cryptocurrency insider trading scheme in which they made illicit profits totalling over a million dollars.

The idea behind crypto mixers is to remove any digital signatures associated with a particular trade and maintain privacy of the transaction. In recent days however, scammers and hackers have been exploiting these privacy tools to launder money and clean funds obtained via illicit activities.

Chainalysis, a blockchain analytics firm, has released a new report focusing on illicit activity on blockchains, noting that DeFi protocols are a popular target for hackers and that money laundering in the sector has increased in the last two years.

Three organisations have come together in China to focus on NFTs. These organisations are, the China Banking Association, the China Internet Finance Association, and the Securities Association of China. The group aims to shape up the NFT sector in a way to reduce the chances of them being used as tools to process illicit activities like money laund...