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US DoJ seeks to recover $7.74M laundered for North Korea via stolen identities, fake remote IT jobs, and cryptocurrency transactions to evade sanctions and fund illicit operations

by Jyotsna Bucktowar | Jun 5, 2025

The investigation revealed that these North Korean IT operatives used stolen identities to secure remote jobs at various companies worldwide, including blockchain development firms, allowing them to generate illicit cryptocurrency revenues for the North Korean...

FCA consults on Stablecoin and Cryptoasset custody rules to bolster AML defences through EDD, asset safeguarding, and Travel Rule compliance – feedback due 31 July 2025; final rules set for 2026

by AdrianaAMLP | May 28, 2025

Stablecoins must be fully backed by low-risk, liquid assets, with issuers subject to rigorous liquidity ratio calculations (BACR) and prompt FCA notification in case of breaches. Redemption must occur at par value within one business day, and custodians must maintain...

Politico: France’s justice minister highlights political hurdles to phase out cash in drug trafficking crackdown, affirming government reluctance to ban banknotes despite AML risks

by Jyotsna Bucktowar | May 23, 2025

In a recent clarification following earlier comments suggesting that eliminating cash could help disrupt narcotics-related money flows, Darmanin affirmed that the government is not prepared to pursue such a measure due to its potential impact on everyday life,...

Europol disrupts a major criminal parallel banking network, seizing €4.5m and arresting 17 suspects in crypto-to-cash laundering fueling migrant smuggling and drug trafficking

by Jyotsna Bucktowar | May 14, 2025

The criminal network was involved in providing illicit financial services such as illegal hawala banking, cash courier activities, and converting cryptocurrencies into cash, primarily to launder money for migrant smuggling and drug trafficking groups. Investigators...

The Hacker News: Germany shuts down eXch over $1.9bn laundering, seizes €34m in crypto and 8TB of data

by Jyotsna Bucktowar | May 10, 2025

This action was part of a coordinated transatlantic law enforcement effort, resulting in the seizure of €34 million in cryptocurrency assets and 8 terabytes of crucial data, aimed at dismantling the criminal network and gathering key evidence for prosecution....
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Recent Posts

  • UK Govt and MAS Singapore pledge joint crackdown on FC, focusing on digital finance risks, AI misuse, cross-border fraud, ESG integrity, tokenisation oversight, and global disclosure alignment
  • INTERPOL’s Crime Trend update reveals scam centres have become global crime hubs, spreading beyond Southeast Asia to 66 countries, driven by human trafficking, crypto fraud, and AI-driven scams
  • FinCEN launches “COMMAND” Exchange series to disrupt illicit financial networks tied to drug and human trafficking, starting in cartel-prone U.S.–Mexico border hubs McAllen and El Paso
  • FATF’s latest VASPs report exposes major gaps in virtual asset compliance, rising stablecoins misuse and weak cross-border supervision, calling for urgent global enforcement and coordinated action
  • Europol’s latest podcast warns that AI is accelerating organised crime via deepfakes, cyberattacks, and disinformation, urging law enforcement to adopt AI-powered tools

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