Security News
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.
The US government is aggressively pursuing three men accused of wide-ranging and complex conspiracies of laundering stolen and illicit cryptocurrency that the North Korean regime used to finance its massive weapons programs. The Department of Justice this month indicted North Korean national Sim Hyon Sop, Wu HuiHui of China, and Cheng Hung Man, a Hong Kong British national, for their roles in two money laundering conspiracies, both aimed at channeling funds into North Korea's coffers.
"The ChipMixer software blocked the blockchain trail of the funds, making it attractive for cybercriminals looking to launder illegal proceeds from criminal activities such as drug trafficking, weapons trafficking, ransomware attacks, and payment card fraud," Europol said in a statement. ChipMixer, the world's largest centralized crypto mixer service, is estimated to have laundered no less than $3.75 billion worth of digital assets to further a wide range of criminal schemes.