CRYPTO MONEY LAUNDERING
Rise of Telegram-friendly chain spurs talk of crypto super app
The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.
Who is Cryptoqueen Ruja Ignatova? Why is there multi-million dollar bounty?
Ruja Ignatova who has been accused in a multi-billion-dollar scam has a $4 million bounty on her head. This has been offered by the FBI which has sought the assistance to locate her. She has accused of selling fake cryptocurrency to the customers of ‘One Coin’ of which she is a co-founder.
FIU slaps Rs 18.82 cr penalty on crypto exchange Binance
FIU imposes Rs 18.82 crore penalty on Binance for alleged anti-money laundering law violation.
FIU imposes Rs 18.82 crore penalty on crypto exchange Binance
In May, Binance had registered with the FIU as the exchange sought to resume operations in the country after the watchdog issued show-cause notices to nine offshore exchanges operating in violation of local rules.
ED raids Kerala-based ponzi company that duped depositors of Rs 1,500 crore
The Enforcement Directorate Friday said it raided multiple locations in various states as part of a money laundering investigation against a Kerala-based company that allegedly duped depositors to the tune of Rs 1,500 crore through a ponzi scheme. The searches were launched on June 11 on the premises of the promoters of HighRich Online Group in Kerala, Maharashtra and Chhattisgarh.
Forex remittances worth Rs 50,000 crore under ED scanner
Delhi-based entity made illegal sale of cryptocurrencies, sent proceeds to Hong Kong and Canada. Bank officials too being probed for leaking info, helping accused. The agency has carried out searches on residences of one of the suspects, Manideep Mago, and his company, Birfa IT Services.
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Why Sebi’s regulatory ambit could boost India's crypto industry
Bringing cryptocurrency under SEBI's regulation could revolutionize India's crypto market. Leveraging SEBI's proven track record in market regulation, investor protection, and technological advancements can foster trust, stability, and growth while ensuring transparency and innovation.
Fraud, crypto & wallet: A virtual hold for a real crime
Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).
Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering
Zhao pleaded guilty in November to one count of failing to take required anti-money-laundering measures and stepped down as Binance agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as people conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.
Binance's Changpeng Zhao sentenced to four months in prison over money laundering violations
Former Binance CEO Changpeng Zhao ('CZ'), 47, sentenced to four months in prison by U.S. District Judge Richard Jones in Seattle, becoming the second major crypto boss sent to prison.
ED seizes Rs 90 crore funds kept in Binance, ZebPay, WazirX wallets
Enforcement Directorate seized Rs 90 crore from cryptocurrency wallets in a money laundering probe connected to the 'E-Nugget' online gaming scam, involving high returns and multiple arrests with assets worth Rs 163 crore seized or frozen.
Binance CEO Zhao faces sentencing over money laundering violations
Ex-Binance CEO Changpeng Zhao may receive an extended sentence for violating U.S. money-laundering laws. Prosecutors seek deterrence. Legal expert Robert Fisher surprised. Sam Bankman-Fried faces 25 years for $8 billion theft, appealing his conviction.
FIU notifies fresh money laundering, terror financing reporting alerts for capital markets
India’s financial intelligence unit issues new alert indicators under PMLA for various sectors to combat money laundering and terrorism financing. Collaborations with regulatory bodies aim to strengthen monitoring, reporting, and analysis of suspicious transactions for law enforcement agencies. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI.
Crypto probe: ED attaches assets worth Rs.97.79 crore linked to Raj Kundra, his actress wife, Shilpa Shetty
The federal agency said amongst the attached properties include a residential flat situated in Juhu presently in the name of Shilpa Shetty, a residential bungalow located in Pune and equity shares held in the name of Raj Kundra. Kundra or Shetty were not immediately available for a comment.
Binance to restart operations in India as compliant FIU-registered entity
Binance returns to India, paying $2 million penalty, seeking compliance with PMLA. Its re-entry may reshape the market dynamics with superior technology and liquidity, amidst soaring bitcoin and ethereum values.
Looking beyond equities: 'ETMarkets Emerging Investment Opportunities' event unveils new investment frontiers
Edul Patel, CEO of Mudrex addressed some of the most common questions regarding Bitcoin and its investment potential. As the cryptocurrency landscape evolves rapidly, Patel aimed to shed light on key aspects to help investors navigate this dynamic market.
ED attaches Rs 24.41 crore assets of absconding Dubai-based VIPS Group owner Vinod Khute, others under PMLA
The investigation of the probe agency revealed that Vinod Khute, who is absconding and suspected to be currently living in Dubai, is the mastermind of various illegal trade, crypto exchange, wallet services, and forex trading through Dubai-based firm Kana Capital Limited.
US charges KuCoin crypto exchange with anti-money laundering failures
Prosecutors said the Seychelles-based exchange sought business from U.S. customers without registering with the Treasury Department and putting in place procedures to verify clients' identities as required by US law.
Crypto bourses block fishy coin withdrawals
The power to freely withdraw coins from investors' registered wallets with exchanges can be misused in different ways.
ED files prosecution complaint against 299, including 76 Chinese entities in Nagaland money laundering case
The Enforcement Directorate (ED) has filed a Prosecution Complaint against 299 individuals and entities, including 76 Chinese-controlled entities, in a money laundering case in Nagaland. The Special Court in Dimapur has taken cognizance of the offence after finding a prima facie case under the Prevention of Money Laundering Act, 2002. The case involves duping investors with promises of high returns through investments in a cryptocurrency mining scheme using an app called "HPZ Token." ED's investigation has led to the freezing of Rs. 176.67 crore and attachment of properties worth Rs. 278.70 crore.
ED files charge-sheet against Chinese-origin directors, others in crypto mining 'app' case
The Enforcement Directorate has filed a charge-sheet against 299 entities, including 10 individuals of Chinese origin, under anti-money laundering laws in connection with an alleged cryptocurrency investment fraud. The case, originating from an FIR by the Kohima Police's Cyber Crimes Unit, accuses the entities of duping investors through the "HPZ Token" app, promising high returns on Bitcoin and other cryptocurrencies.
US prosecutors in Binance case urge judge to accept plea
The crypto trading company pleaded guilty late last year to anti-money laundering and sanctions violations and agreed to pay $4.3 billion in penalties. In a sentencing memo filed on Friday in federal court in Seattle, US prosecutors urged a federal judge to accept the plea deal.
Bitcoin breaks $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it.
Cryptocurrency comeback: Indian exchanges shine amid offshore challenges
What started out as a crypto freeze is showing signs of thaw. But can volumes regain levels they once saw? And can platforms like Binance make a comeback in India? ET decodes the latest developments and what they mean for the Indian market.
Illicit crypto addresses received at least $24.2 billion in 2023: Report
At least $24.2 billion worth of crypto was sent to illicit crypto wallet addresses in 2023, including addresses identified as sanctioned or linked to terrorist financing and scams, crypto research firm Chainalysis said on Thursday.
Mudrex introduces free transfers from Binance for 200+ tokens and relationship manager support
Mudrex, a global crypto investment platform, supports over 200+ tokens and offers free crypto transfers from Binance. This move follows the Financial Intelligence Unit's notice to Binance and other exchanges for non-compliance with anti-money laundering standards in India. Mudrex aims to empower users with flexibility and choice. The platform also introduces expert support for users handling larger amounts or those uncomfortable with crypto transfers.
India bans foreign crypto platforms like Binance, Kucoin. What should investors do now?
Access to websites of top global cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin, OKX, and others, were blocked in India on Friday.
Google removes Binance, other offshore crypto apps from Play Store
Less than 24 hours after access to web platforms of crypto wallets such as Binance was cut off for Indian users, theirapps were also taken down from Google Play Store..
Mahadev app promoters funnelled illegal proceeds into crypto, bogus diamond trade
In the 1800-page supplementary prosecution complaint (PC) equivalent to a charge sheet, the federal anti-money laundering agency has also claimed that one of the accused, Asim Das, the courier who allegedly delivered the money to former Chhattisgarh Chief Minister, Bhupesh Bagel, and who had subsequently retracted his statement claimed that he did this 'under influence'. In a fresh statement Das has claimed that he stands by his original statement.
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