Security News

U.S. Sanctions Two Crypto Exchanges for Facilitating Cybercrime and Money Laundering
2024-09-27 07:47

The U.S. government on Thursday sanctioned two cryptocurrency exchanges and unsealed an indictment against a Russian national for his alleged involvement in the operation of several money...

Dutch Court Sentences Tornado Cash Co-Founder to 5 Years in Prison for Money Laundering
2024-05-15 08:28

A Dutch court on Tuesday sentenced one of the co-founders of the now-sanctioned Tornado Cash cryptocurrency mixer service to 5 years and 4 months in prison. While the name of the...

Russian Operator of BTC-e Crypto Exchange Pleads Guilty to Money Laundering
2024-05-07 09:32

A Russian operator of a now-dismantled BTC-e cryptocurrency exchange has pleaded guilty to money laundering charges from 2011 to 2017. Alexander Vinnik, 44, was charged in January 2017 and taken...

Bitcoin Forensic Analysis Uncovers Money Laundering Clusters and Criminal Proceeds
2024-05-01 14:25

A forensic analysis of a graph dataset containing transactions on the Bitcoin blockchain has revealed clusters associated with illicit activity and money laundering, including detecting criminal...

Six banks share customer info to help Singapore fight money laundering
2024-04-02 00:59

Advertising presented to you on this service can be based on limited data, such as the website or app you are using, your non-precise location, your device type or which content you are interacting with. Your profile can be used to present content that appears more relevant based on your possible interests, such as by adapting the order in which content is shown to you, so that it is even easier for you to find content that matches your interests.

Canada's anti-money laundering agency offline after cyberattack
2024-03-06 17:30

The Financial Transactions and Reports Analysis Centre of Canada has announced that a "Cyber incident" forced it to take its corporate systems offline as a precaution. FINTRAC is a government agency in Canada that operates as the country's financial intelligence unit.

How Cybercriminals are Exploiting India's UPI for Money Laundering Operations
2024-03-04 13:50

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...

Belarusian National Linked to BTC-e Faces 25 Years for $4 Billion Crypto Money Laundering
2024-02-05 16:36

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...

Founder of Bitzlato Cryptocurrency Exchange Pleads Guilty in Money-Laundering Scheme
2023-12-08 05:41

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...

Unpacking the challenges of anti-money laundering obligations
2023-11-09 05:30

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.