AML / KYC

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    Crypto / Digital Assets

    Action Against Crypto Firm Bitzlato Yields Seizures, More Arrests

    By Editors | 25/01/2023

    Authorities seized EUR 18 million in crypto wallets and froze EUR 50 million in accounts at other crypto exchanges, Europol says.

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    AML / KYC

    US SEC Fines Crypto Firm Nexo for Unregistered Securities Offering

    By Manesh Samtani | 20/01/2023

    Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.

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    AML / KYC

    German Prosecutors Search Norton Rose Offices in Cum-Ex Probe

    By Editors | 20/01/2023

    A former staff member of Norton Rose Fulbright is said to be a suspect in the tax fraud probe, which dates back more than a decade.

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    AML / KYC

    HKMA Consults on Changes to AML/CFT Guideline for Banks

    By Manesh Samtani | 19/01/2023

    Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.

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    AML / KYC

    Authorities Dismantle Russia-Linked Crypto Firm Bitzlato

    By Manesh Samtani | 18/01/2023

    Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

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    AML / KYC

    HK Customs “Smashes” Syndicate That Laundered HK$6b

    By Editors | 18/01/2023

    A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was “successfully smashed”.

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    AML / KYC

    UK Linked ‘Golden Visas’ to Crime Years Ago

    By Editors | 18/01/2023

    A review commissioned in 2018 and “kept secret for years” found a disproportionate number of golden visa applicants were from countries identified as high risk.

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    Crypto / Digital Assets

    BitConnect Victims Receive $17mn Restitution from Crypto Fraud

    By Editors | 16/01/2023

    BitConnect was an online crypto lending platform that collapsed in 2018, causing investor losses estimated at over USD 2.4 billion.

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    AML / KYC

    Illicit Crypto Transactions Reached All-time High in 2022

    By Editors | 15/01/2023

    Chainalysis says 44 percent of 2022’s illicit transaction volume came from activity associated with sanctioned entities, including sanctioned crypto exchange Garantex.

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    AML / KYC

    FATF Publishes Consolidated Table of Assessment Ratings

    By Editors | 15/01/2023

    FATF members reportedly blocked proposals that could have more meaningfully reformed the process for adding countries to the blacklist and greylist.

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