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Articles on this Page
- 10/11/16--03:00: _Falcon Private Bank...
- 12/16/16--05:30: _Axis Bank Facilitat...
- 04/12/17--05:00: _Legal Eagles Contin...
- 07/26/17--09:05: _BTC-E Is Responsibl...
- 10/25/17--05:00: _DEA Report Confirms...
- 11/18/17--08:49: _Mark Haefele of UBS...
- 12/04/17--05:00: _UK Treasury Plans t...
- 12/10/17--09:56: _UK Government to En...
- 12/15/17--04:00: _American Woman Arre...
- 02/01/18--03:00: _Bank of England Gov...
- 02/12/18--18:00: _Europol Estimates C...
- 02/16/18--04:00: _Bitcoin Isn’t the C...
- 02/22/18--16:30: _British Man Charged...
- 02/23/18--16:00: _Japan: Do Criminals...
- 12/16/16--05:30: Axis Bank Facilitates Banned Banknote Money Laundering In India
- 07/26/17--09:05: BTC-E Is Responsible for Laundering 95% of all Ransomware Proceeds
- 12/04/17--05:00: UK Treasury Plans to Regulate Cryptocurrency Exchanges
- 12/10/17--09:56: UK Government to Enlist the Help of Spies to Crack Bitcoin’s Enigma
- 02/22/18--16:30: British Man Charged With Using Bitcoin to Launder 11.5 Million Euros
The financial relationship between Switzerland and Singapore has come under even more pressure than before. Singapore central bank officials forced Falcon Private Bank to shut down immediately. This is a direct result of the ongoing money-laundering operations in the country, and Falcon Private Bank is the second Swiss financial institution forced to close its doors. … Continue reading Falcon Private Bank Singapore Branch Shut Down Over Money Laundering Concerns
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The banknote ban in India is causing some rather unexpected results. Axis Bank’s Noida branch suffered from a similar incident as what happened to Wells Fargo customer not took long ago. Bank employees opened fictitious bank accounts to deposit a lot of money, allowing them to bypass the current demonetisation plans. Banks remain the perfect … Continue reading Axis Bank Facilitates Banned Banknote Money Laundering In India
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Bitcoin, when introduced was compared to any other in-game currency which didn’t hold any value in the real world. But few years down the line, the cryptocurrency proved false notions wrong by becoming one of the most valuable financial assets. Bitcoin works differently from fiat currencies as no government or central bank is responsible for … Continue reading Legal Eagles Continue to Contemplate on Whether Bitcoin Is Money or Not
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Most people are aware of how ransomware works these days. After getting infected with malicious software, victims have to pay a Bitcoin sum to get their files restored. One question hardly anyone knew the answer to was how the criminals cashed out these Bitcoin proceeds. As it turns out, 95% of all collected funds were … Continue reading BTC-E Is Responsible for Laundering 95% of all Ransomware Proceeds
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Bitcoin has been associated with money laundering for quite some time now. Most of these claims are bogus and have never been proven in an official manner. A new DEA report shows Bitcoin is certainly involved in a Chinese laundering scheme. More specifically, the world’s leading cryptocurrency “facilitates” trade-based money laundering schemes. It is an … Continue reading DEA Report Confirms Bitcoin is Used for Trade-based Money Laundering Schemes in China
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In an interview with Bloomberg, the chief investment officer of the world’s largest wealth management company, UBS Group AG, has declared his scepticism of Bitcoin and other cryptocurrencies. For Mark Haefele, the lack of government regulation over Bitcoin is a cause for concern, as is the size of market capitalisation of cryptocurrencies in general. He … Continue reading Mark Haefele of UBS Group AG: Bitcoin Not “Considered a Viable Currency to Invest In”
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It comes as no surprise that governments don’t like Bitcoin and banks and financial institutions like it even less. They cannot control it, track it, profit from it, or tax it. To justify their fears and loathing politicians and bankers will use phrases like ‘fraudulent’, ‘criminal’, and ‘bubble’ to deter the public from gaining an … Continue reading UK Treasury Plans to Regulate Cryptocurrency Exchanges
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Following hints that an increase in cryptocurrency regulation is coming to the British Isles, the government there have enlisted a curious team to help them understand the space better. The Telegraph report that the UK’s Treasury department have called upon their domestic spy agency to better appreciate the risks posed by the permission-less digital currency. … Continue reading UK Government to Enlist the Help of Spies to Crack Bitcoin’s Enigma
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There have always been allegations tying Bitcoin to terrorist funding. So far, there has been little to no evidence to back up such claims. It seems that situation has come to change in the past few days. An American woman was arrested and accused of money laundering bitcoins. Said cleaned funds were then used to … Continue reading American Woman Arrested for Laundering Bitcoin to Fund Islamic State Operations
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Bank of England Governor Mark Carney said cryptocurrency is often used for money laundering and other illegal activities. The statement was made when he spoke about the need to inject more transparency into the trading process. No Anonymity for Cryptocurrency users According to Bloomberg he told a committee of lawmakers when speaking to the UK Parliament … Continue reading Bank of England Governor Carney Calls for Transparency in Crypto Trading
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Criminals in Europe are using cryptocurrencies to launder as much as $5.5 billion (£4 billion) in illegal money according to the head of Europol, the EU’s policing agency. Director of Europol, Rob Wainwright, estimates that around 4% of all criminal proceeds in Europe are being funneled through cryptocurrencies like Bitcoin — and he expects this … Continue reading Europol Estimates Cryptocurrencies Account for 4% of Illicitly Trafficked Cash in Europe
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Money laundering has always been a big problem in the financial sector. Turning “dirty” money into “clean” money makes it nearly impossible to trace criminal activity. One could argue money laundering is a sold as the banks themselves. US Bancorp is fined $613m to settle “willful” violations of the Bank Secrecy Act. It is once … Continue reading Bitcoin Isn’t the Currency for Money Laundering, US Bank Pays $613m Fine
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A British man has been arrested on money laundering charges in Holland. He is alleged to have been running a “money cleaning” service for clients trading on the dark web between the years 2014 and 2016. The Dutch Public Prosecutor demanded on Wednesday that he serves at least five years in prison. Funds Likely Came … Continue reading British Man Charged With Using Bitcoin to Launder 11.5 Million Euros
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Japan’s National Police Agency said today that they received reports on 669 cases of suspected money laundering linked to cryptocurrencies from exchange operators between April and December of last year; This is just a tiny fraction of the total, as 347,000 money laundering cases were reported by traditional banks in the same time frame. The … Continue reading Japan: Do Criminals Prefer Cryptocurrencies or Fiat for Money Laundering? 669 Cases vs 347,000
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