Security News
Cybercriminals are using a network of hired money mules in India using an Android-based application to orchestrate a massive money laundering scheme. The malicious application, called XHelper, is...
A 42-year-old Belarusian and Cypriot national with alleged connections to the now-defunct cryptocurrency exchange BTC-e is facing charges related to money laundering and operating an unlicensed...
Aliaksandr Klimenka, a Belarusian and Cypriot national, has been indicted in the U.S. for his involvement in an international cybercrime money laundering operation. The U.S. DoJ alleged back then that the platform was used to launder funds stolen during the hack of Japanese crypto exchange platform Mt. Gox, as well as ransom payments for the Locky, Cerber, NotPetya, WannaCry, and Spora ransomware operations.
Nigerian man Olugbenga Lawal was sentenced on Monday to 10 years and one month in prison for conspiring to launder millions stolen from elderly victims in internet fraud schemes. Lawal worked directly with the Nigeria-based leader of the Nigerian Black Axe organized crime group, one of the world's most dangerous crime syndicates, which he was also a member of.
The Russian founder of the now-defunct Bitzlato cryptocurrency exchange has pleaded guilty, nearly 11 months after he was arrested in Miami earlier this year. Anatoly Legkodymov (aka Anatolii...
When managing anti-money laundering obligations, many challenger banks turn to basic or unproven in-house risk management solutions. Although these solutions can, in some ways, be innovative, they are often built quickly and lack thorough testing, leading to potential vulnerabilities.
The business offered cash for Bitcoin and vice versa, with Randol collecting a commission on the payouts. Randol provided cryptocurrency exchange services in various ways, including via the post, ATMs, and occasionally in person, prosecutors told a Los Angeles federal court on Tuesday.
The U.S. Justice Department on Wednesday unsealed an indictment against two founders of the now-sanctioned Tornado Cash cryptocurrency mixer service, charging them with laundering more than $1 billion in criminal proceeds. Tornado Cash is estimated to have processed upwards of $7 billion worth of crypto assets over a period of three years.
A married couple from New York City has pleaded guilty to money laundering charges in connection with the 2016 hack of cryptocurrency stock exchange Bitfinex, resulting in the theft of about...
Google Cloud's AML AI represents an advancement in the fight against money laundering. In this Help Net Security interview, Anna Knizhnik, Director, Product Management, Cloud AI, Financial Services, at Google Cloud, explains how Google Cloud's AML AI outperforms current systems, lowers operational costs, enhances governance, and improves the customer experience by reducing false positives and minimizing compliance verification checks.