Tag: Money laundering

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India’s financial watchdog probes Binance over potential laundering through betting app

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Nigerian Instagram influencer ‘Hushpuppi’ pleads guilty to money laundering in US

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HK police clamp down on laundering network responsible for moving nearly $30M in illicit profits; 29 arrested including ringleaders

British woman jailed for nearly three years following discovery of nearly £2 Million cash stuffed in suitcases at Heathrow Airport

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Swiss authorities close decade-long Russian money laundering investigation

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Chief of Ireland’s Economic Crime Bureau calls for changes to ‘crazy’ system in place to tackle white collar crime

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How easy it is to launder $1M for a drug cartel in North America using China – expert reveals

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Two convicted in US federal court for multi-million dollar laundering scheme that stemmed from telemarketing ruse

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UK facing a ‘tsunami’ of fraud – expert claims UK has created a ‘haven for fraudsters’ in damning analysis

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Swedish man to serve 15 years in prison for orchestrating multi-million dollar crypto laundering scheme

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Poland’s Former Transport Minister charged with money laundering and accepting over €1.4 Million in bribes

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Jeweller jailed for seven and a half years for role in money laundering ring

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FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern, Proposes a Rule to Combat Cyber Scams and Heists
FinCEN
May 2, 2025
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system. Huione Group serves as a critical node for laundering proceeds of cyber heists carried out by the Democratic People’s Republic of Korea (DPRK), and for transnational criminal organizations (TCOs) in Southeast Asia perpetrating convertible virtual currency (CVC) investment scams, commonly known as “pig butchering” scams, as well as other types of CVC-related scams. Given the money laundering risk posed by Huione Group, FinCEN is proposing to prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of Huione Group.
FCA seeks feedback on regulation of cryptoasset trading platforms in next phase of road to regulation
Financial Conduct Authority
May 2, 2025

The FCA is seeking views on the future regulation of specific cryptoasset activities, ahead of legislation to bring them within regulation.

Clear crypto regulation will boost confidence in the sector, supporting growth. In this latest discussion paper (DP), the FCA is seeking views on intermediaries, staking, lending and borrowing, and decentralised finance. With more people using credit to purchase crypto, the DP also considers whether restrictions should be applied in that area.
Website Alert – Fraudulent website related to Bank Julius Baer & Co. Ltd.
HKMA
May 2, 2025
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank Julius Baer & Co. Ltd. relating to a fraudulent website, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.