U.S. Investigates Sharp Rise in Iran’s Crypto Activity
U.S. investigators are examining whether specific cryptocurrency platforms have helped Iranian officials and state-linked actors evade sanctions as crypto activity in Iran surges, a blockchain researcher with direct knowledge of Treasury’s concerns told Reuters.
Deutsche Bank Raid Focused on Same Years as Earlier BVI Probe
German authorities raided Deutsche Bank’s headquarters in Frankfurt and a separate office in Berlin as part of a money-laundering investigation linked to Russian billionaire Roman Abramovich.
Airwallex Faces AML Audit over Concerns of Child Sex Abuse Funding
Australia’s financial intelligence unit has ordered Singapore-based Airwallex to review whether the payments giant has violated the nation’s anti-money laundering (AML) laws.
U.S. Launches New GTO, Probes Aimed at Minnesota Benefits Fraud Scandal
The U.S. Treasury Department on Thursday launched a set of initiatives to investigate what it called “rampant government benefits fraud” in Minnesota, including the imposition of new reporting requirements for financial institutions.
How Two UK Crypto Exchanges Moved $1bn in Stablecoins Tied to Iran’s IRGC
Two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, operated as front companies for an infrastructure that processed approximately $1 billion in funds linked to Iran’s Islamic Revolutionary Guard Corps (IRGC), according to new analysis from TRM Labs.
Spain Targets Nigeria’s ‘Black Axe’ Network in Criminal Crackdown
Spanish National Police, working with Germany’s Bavarian State Criminal Police Office and supported by Europol, arrested 34 people in Spain during an operation against the international criminal organization known as “Black Axe,” Europol announced.
Luxembourg Fines Rakuten Europe Bank €185,000 for AML Deficiencies
Luxembourg’s financial regulator has fined Rakuten Europe Bank €185,000 for multiple breaches of anti-money laundering and counter-terrorist financing (AML/CFT) regulations, according to a new report by the Luxembourg Times.
In U.S. Migrant Crackdown, a Renewed Focus on Cross-Border Remittances
The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.
Nigeria to Tighten Bank Cash Withdrawal Limits
Nigeria’s central bank has unveiled sweeping new cash withdrawal limits and related rule changes aimed at curbing cash dependence and reducing security and money-laundering risks, according to Reuters.
UBS and Credit Suisse Compliance Officer Face Charges Over Mozambique Bonds Scandal
Switzerland’s attorney general has filed criminal charges against UBS and a former Credit Suisse compliance officer, alleging failures to prevent money laundering linked to the long-running Mozambique “tuna bonds” scandal, according to The Wall Street Journal.