Suspicious Transactions

On Thursday, July 4, the Financial Supervisory Service of Korea released a statement alerting all crypto exchanges to ramp up transaction monitoring on their respective platforms. This move from South Korea comes as the country’s Virtual Asset User Protection Act is ready to go into effect on July 19.

Bitget has called India a ‘key market’ as it said that it is working to get an FIU registration to operate in India. With the FIU registrations, crypto firms agree to implement strict KYC system, maintain transaction records, and report suspicious transactions.

Authorities in the US have reportedly identified compliance violations from Jack Dorsey’s Block firm. Among other allegations, the probing officers have alleged that Block had been processing multiple crypto transactions even from nations that are part of the US’ sanctions list.

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.

The CBI conducted searches at 67 locations in seven cities in Rajasthan and Maharashtra in connection with a case linked to suspicious IMPS transactions worth Rs 820 crore across multiple UCO Bank accounts.

India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.

A US judge on Friday accepted Binance's guilty plea and more than $4.3 billion penalty for violating federal anti-money laundering and sanctions laws through lapses in internal controls at the world's largest cryptocurrency exchange.

Incriminating documents indicating "suspicious and unaccounted" transactions worth several crores of rupees were seized after searches were conducted against Congress candidate from Telangana's Chennur seat Vivek Venkatswamy, the ED said.

Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.

Mudrex, the crypto investment firm based in Bengaluru, said that it is now a registered crypto firm in the European nations of Lithuania and Italy as well as India. Launched in 2018, the company aims to make crypto investing safer. It is now looking to expand outside India and the US.

Coinbase has launched a new Prime Web3 Wallet service that would help institutional investors get safe and one-tap access to all their digital asset requirements. This would include asset custody solutions as well as instant access to dApps. To help companies stay ahead of security threats, the wallet will provide approval alerts, transaction previ...

The Pepe Coin frenzy is now turning into fear fest after its anonymous developer team moved $15 million (roughly Rs. 123 crore) worth of tokens into centralised exchanges. The team also suspiciously reduced the number of signatures required to process PEPE transactions from five to two, leading to concerns among the PEPE community.

WazirX received 431 requests from law enforcement agencies on transactions worth $390 million (roughly Rs. 3,222 crore) in the last five months. In its fourth transparency report, the exchange claimed that it has blocked over 2,431 accounts after they were red-flagged by its internal transaction monitoring process or by law enforcement agencies.

Google has rolled out new safety measures for Google Pay to offer secure digital payments. The app will now detect fraudulent activities in order to warn users. It will use its intelligent language engine to flash a message and alert the user in their preferred language.

An Indian-origin banker has been issued a 10-year prohibition order and a 24-month conditional warning for his failure to report a suspicious transaction involving the jailed Malaysian Prime Minister Najib Razak.

On Thursday, July 4, the Financial Supervisory Service of Korea released a statement alerting all crypto exchanges to ramp up transaction monitoring on their respective platforms. This move from South Korea comes as the country’s Virtual Asset User Protection Act is ready to go into effect on July 19.

Bitget has called India a ‘key market’ as it said that it is working to get an FIU registration to operate in India. With the FIU registrations, crypto firms agree to implement strict KYC system, maintain transaction records, and report suspicious transactions.

Authorities in the US have reportedly identified compliance violations from Jack Dorsey’s Block firm. Among other allegations, the probing officers have alleged that Block had been processing multiple crypto transactions even from nations that are part of the US’ sanctions list.

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.

The CBI conducted searches at 67 locations in seven cities in Rajasthan and Maharashtra in connection with a case linked to suspicious IMPS transactions worth Rs 820 crore across multiple UCO Bank accounts.

India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.

A US judge on Friday accepted Binance's guilty plea and more than $4.3 billion penalty for violating federal anti-money laundering and sanctions laws through lapses in internal controls at the world's largest cryptocurrency exchange.

Incriminating documents indicating "suspicious and unaccounted" transactions worth several crores of rupees were seized after searches were conducted against Congress candidate from Telangana's Chennur seat Vivek Venkatswamy, the ED said.

Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.

Mudrex, the crypto investment firm based in Bengaluru, said that it is now a registered crypto firm in the European nations of Lithuania and Italy as well as India. Launched in 2018, the company aims to make crypto investing safer. It is now looking to expand outside India and the US.

Coinbase has launched a new Prime Web3 Wallet service that would help institutional investors get safe and one-tap access to all their digital asset requirements. This would include asset custody solutions as well as instant access to dApps. To help companies stay ahead of security threats, the wallet will provide approval alerts, transaction previ...

The Pepe Coin frenzy is now turning into fear fest after its anonymous developer team moved $15 million (roughly Rs. 123 crore) worth of tokens into centralised exchanges. The team also suspiciously reduced the number of signatures required to process PEPE transactions from five to two, leading to concerns among the PEPE community.

WazirX received 431 requests from law enforcement agencies on transactions worth $390 million (roughly Rs. 3,222 crore) in the last five months. In its fourth transparency report, the exchange claimed that it has blocked over 2,431 accounts after they were red-flagged by its internal transaction monitoring process or by law enforcement agencies.

Google has rolled out new safety measures for Google Pay to offer secure digital payments. The app will now detect fraudulent activities in order to warn users. It will use its intelligent language engine to flash a message and alert the user in their preferred language.

An Indian-origin banker has been issued a 10-year prohibition order and a 24-month conditional warning for his failure to report a suspicious transaction involving the jailed Malaysian Prime Minister Najib Razak.