US Treasury targets NFTs for potential high-value art money laundering

US Treasury targets NFTs for potential high-value art money laundering

The U.S. Department of the Treasury released a study on the high-value art market, highlighting the potential in the nonfungible tokens (NFT) space to conduct illicit money laundering or terror financing operations.... Read more »
Hong Kong Authorities Arrest Two Siblings Accused of Laundering $384 Million via Banks, Crypto Platform

Hong Kong Authorities Arrest Two Siblings Accused of Laundering $384 Million via Banks, Crypto Platform

Authorities in Hong Kong have arrested two individuals accused of laundering about $384 million using various avenues including a cryptocurrency exchange trading platform. If convicted, the two face a maximum jail sentence... Read more »
Binance Turkey fined 8M lira for non-compliance against money laundering

Binance Turkey fined 8M lira for non-compliance against money laundering

The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance.  The Financial... Read more »
China Reports First CBDC Money Laundering Case

China Reports First CBDC Money Laundering Case

Key Takeaways Chinese officials have cracked down on a criminal group connected to a money laundering charge. The group scammed a person for 200,000 yuan (about $32,000) and used a digital yuan... Read more »