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NEW YORK (Reuters) -Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded not guilty on Thursday to U.S. criminal ...
(Reuters) -A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S ...
Six Rutgers University students and one alum were charged this week with running a sophisticated drug ring — and allegedly used a “private ... including money laundering, were filed against ...
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [ 3 ] Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 ...
The cryptocurrency exchange BitMEX has been fined $100 million for deliberately ignoring U.S. anti-money laundering laws in order to boost revenue, the U.S. Department of Justice said on Wednesday.
The Anti-Money Laundering Improvement Act established national and international policies to prevent and combat money laundering and terrorist financing. [1]It protects the integrity of financial institutions by detecting money laundering activities, which involve converting illegally obtained funds into legitimate assets through complex transactions and disguising the proceeds as lawful funds.
Mastercard and Visa failed to stop their companies from laundering money from child sexual abuse and sex trafficking on OnlyFans, according to allegations in an undisclosed whistleblower complaint.