money laundering News

Crypto Crime Hit Record $14 Billion in 2021, Research Shows

LONDON — Crime involving cryptocurrencies hit an all-time high of $14 billion last year, blockchain researcher Chainalysis said on Thursday, a record that comes as regulators call for more powers over the fast-growing sector. Crypto received by digital wallet addresses …

US Poised to Sue Contractors Who Don’t Report Cyber Breaches

WASHINGTON (AP) — The Justice Department is poised to sue government contractors and other companies who receive U.S. government grants if they fail to report breaches of their computer systems or misrepresent their cybersecurity practices, the department’s No. 2 official …

White House Blacklists Russian Ransomware Payment ‘Enabler’

WASHINGTON (AP) — The Biden administration sought Tuesday to choke the finances of criminal ransomware gangs, announcing sanctions against a Russia-based virtual currency brokerage that officials say helped at least eight ransomware gangs launder virtual currency. The Treasury Department sanctions …

Witness: Commissioner Used Arson Money to Buy Campaign Signs

ATLANTA (AP) — Suspended Georgia Insurance Commissioner Jim Beck improperly took money from the private insurer he led and used it to buy campaign signs when the Republican ran for office in 2018, a witness testified Friday in Beck’s trial. …

Latin American Crime Cartels Turn To Crypto To Clean Up Their Cash

MEXICO CITY — In April 2019, Mexican police arrested suspected human trafficker Ignacio Santoyo in a plush area of the Caribbean resort of Playa del Carmen after linking him to a prostitution racket extending across Latin America. Yet it was …

U.S. Treasury Warns Cyber Insurers Against Paying Ransomware Demands

The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering and sanctions regulations. The warnings came in a pair of advisories, one from the Financial Crimes Enforcement Network (FinCEN) and …

Florida Teen Pleads Not Guilty to Masterminding Twitter Hack

A 17-year-old Florida boy accused of masterminding the hacking of celebrity accounts on Twitter Inc, including those of Democratic presidential candidate Joe Biden and Tesla Chief Executive Elon Musk, pleaded not guilty to charges on Tuesday. Graham Clark told Circuit …

Deutsche Bank Whistle-Blower Raised Flags About Another Bank

Tammy McFadden spent most of her career far from Wall Street, in banks and back offices in Jacksonville, Florida. She was let go three times, including last year by Deutsche Bank AG. Now she’s poised to become a bank-compliance celebrity. …

FBI Investigating Deutsche Bank for Possible Money-Laundering Lapses

FRANKFURT — The U.S. Federal Bureau of Investigation is examining whether Deutsche Bank complied with laws meant to stop money laundering, a person with knowledge of the matter said on Thursday. The inquiry, first reported in the New York Times, …

Prosecutors Seek Sale of 2 New York Condos Linked to Malaysian fugitive

U.S. prosecutors are seeking to sell two luxury condominiums in New York City linked to fugitive financier Low Taek Jho, court documents showed, the latest effort to recover money allegedly stolen from Malaysia’s state fund 1MDB. Low, known as Jho …