US interstate tax consortium J5 lists NFT marketplace red flags
In its first guidance on NFTs, J5 listed phishing scams, fake token giveaways, and wash trading as some of the ‘strong’ red flags that users should watch out for.
Latest money laundering News
Brazil’s Senate approves digital asset regulation bill
The draft bill, which received a green light from a Senate committee in February, is now headed to the Chamber of Deputies and, if approved, to the country’s president.
AUSTRAC new guidelines aims to help fight digital currency cybercrimes
AUSTRAC said that the digital assets use in criminal activities is increasing revealing that in 2020-21, 500 ransomware attacks were reported, marking a 15% increase from the previous fiscal year.
Reggie Fowler to plead guilty to running digital asset shadow bank
Reginald Fowler has told the court that he intends to plead guilty to charges of fraud, money laundering and running an unlicensed money transmitting business.
Bitcoin inventor Dr. Craig Wright on source of funds and identity
The source of funds is basically the question of who you are, where your funds come from, and why you have them—it is identity but focused on wealth.
Frosties NFT: 2 charged in US over $1.3M rug pull
The two 20-year-old men, who were arrested in California, allegedly sold 8888 NFTs in early January before abandoning the project and vanishing with the ETH from investors.
Equality of the law
The control of the Bitcoin network is distributed between the developers of the network creating the code and the enforcement through the nodes.
Shut down or face action: UK FCA issues warning vs digital asset ATMs
The U.K. regulator has said that none of the operating digital asset ATM operators are registered to offer such services and must shut down immediately or face regulatory action.
3 ‘Geek Group’ leaders sentenced in US over illegal BTC business, money laundering
A Michigan court has sentenced the three leaders of the so-called Geek Group to prison time and $200,000 in BTC and USD in connection with their money laundering BTC business.
‘Task Force KleptoCapture’ to target digital asset industry in Russia sanctions enforcement
U.S. AG Merrick B. Garland is targeting "individuals and entities" seeking to evade economic sanctions on Russian businesses with the recent "Task Force KleptoCapture" announcement.
UK fast-tracks new law giving gov’t more power to seize digital assets
The U.K. parliament is pushing for the passing of a new economic bill that will give the government greater power to seize digital currencies to curb money laundering.
IMF: Nigeria’s eNaira could be used for terrorism financing, money laundering
The IMF says that eNaira could raise financial inclusion to meet the ambitious target of 95%, but says Nigeria must be vigilant as it poses several risks.