OKX Fined $1.2M by Malta for Breaching Money Laundering Rules
The company was expected to assess the nature of risks prevalent in the services it was offering, the Financial Intelligence Analysis Unit said in a notice.
Money Laundering
German Government Shuts Down 47 Exchanges, Says They’re Tied To ‘Illegal Activity’
The German Attorney General’s Office Frankfurt am Main (Generalstaatsanwaltschaft) and the country’s Federal Criminal Police Office (BKA) have shut down 47 crypto exchanges allegedly tied to criminal activities including money laundering.
Jailed Binance Exec’s Nigeria Case to Be Heard a Month Early
The trial was expected to resume on Oct. 11 but is now set to resume next week after defence lawyers requested that the case be heard sooner.
Crypto-Friendly Bank Ordered by Fed to Limit Risks From Digital Asset Clients
Customers Bank, which has done business with several of the most prominent crypto firms, has been called out by the U.S. Federal Reserve for inadequately policing illicit activity, particularly with digital asset clients.
Coinbase’s CBPL Fined $4.5M by UK Regulator for Lapses in Onboarding Controls
Despite the restrictions in place, CBPL onboarded and/or provided e-money services to 13,416 high-risk customers, the Financial Conduct Authority said.
U.S. House Passes Crypto Illicit Finance Bill That’s Likely to be Rebuffed in Senate
The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn’t likely to become a law as-is.
Traditional Money Launderers Appear to Be Using Crypto, Chainalysis Says
The crypto tracing company’s latest report shines a light on potential money laundering.
Binance Executive’s Health Deteriorates in Jail as Nigeria Money-Laundering Trial Proceeds
On Tuesday the cross-examination of the first witness from Nigeria’s Securities and Exchange Commission was completed.
British-Chinese Money Launder Sentenced to 6 Years in Prison For Role in $6B Fraud: FT
Jian Wen, 42, who was alleged to have carrying out the laundering on behalf of her former boss, was found guilty in March.
Binance Money Laundering Trial in Nigeria Pushed to June 20 Due to Executive’s Illness
Binance’s head of financial crimes compliance Tigran Gambaryan is seriously ill, his lawyers said.