Ethereum, known for its smart contract capabilities, has risen quickly. But its cloak of anonymity makes it a prime spot for illegal activities, like money laundering. Bad guys turn dirty cash into clean currencies using Ethereum. Unlike old-fashioned money laundering, with its clear signs, Ethereum's money laundering is a puzzle. Researchers delved into this mystery...
In 2023, a significant amount of cryptocurrency was allegedly laundered through a mixer called Railgun. This mixer, which helps hide the identity of crypto owners, was used by a North Korean hacker group called the Lazarus Group. The U. S. Department of the Treasury had already blacklisted other mixers like Tornado Cash for money laundering. However, Railgun was not ...
TD Bank has been hit with a massive $3 billion fine and has pleaded guilty to failing in catching money laundering schemes. This all happened because drug cartels and other criminal groups managed to transfer large amounts of illegal money through TD Bank branches in New York and New Jersey. The bank's employees even joked about how easy it was for criminals to use t...
TD Bank is shelling out a massive $3 billion fine for letting drug cartels slip through their money laundering checks. This isn't just a slap on the wrist—it's a record-breaking penalty meant to shake things up at the bank. For years, TD Bank's system missed over 90% of suspicious transactions, allowing cartels to move hundreds of millions of dollars through their ac...
The United States has filed charges against two Russian men, Sergey Ivanov and Timur Shakhmametov, for allegedly running billion-dollar money laundering services. Ivanov is known to have been active for nearly two decades, while Shakhmametov ran a notorious cybercriminal marketplace called Joker’s Stash, which made hundreds of millions from stolen payment card inform...
Starling Bank, a digital bank backed by Goldman Sachs and once considered one of the UK's most promising startups, has recently been fined £29 million by the Financial Conduct Authority (FCA). The fine was imposed due to the bank's failure in preventing financial crimes such as money laundering and terrorist financing. Starling admitted it didn't keep up with its rap...
You might have heard about Starling Bank getting a hefty fine. The Financial Conduct Authority (FCA) slapped them with a £29 million penalty for not doing enough to stop money laundering. It's not just about one bank though—this problem runs deeper into the fintech industry. Starling messed up big time, letting 54,000 high-risk customers open accounts even after bei...
The US government is preparing to charge two Russian nationals accused of masterminding a massive money laundering operation. This move is part of a broader effort to crack down on Russian cybercrime. According to sources, one of the men has been involved in money laundering for over a decade, making him one of the longest-serving professionals in the field. The two...
The recent arrest of Telegram CEO Pavel Durov has sent shockwaves through the cryptocurrency world, with Toncoin's value plummeting over 20%. But is this a direct result of the alleged criminal activity on Telegram, or are there other factors at play? Can we really assume that Durov's arrest is solely due to the alleged criminal activity, or are there other politica...
Former Philippine mayor Alice Guo, accused of being entangled with Chinese criminal networks and laundering over $1.79 million, has returned to Manila after being deported from Indonesia. Arriving on a private plane with a heavy security escort, Guo faces serious charges, including money laundering, filed by Philippine authorities. But is she a villain or a victim? ...