Money Launderers Have Made ‘Dramatic’ Turn to Crypto in Recent Years
Western governments are being urged to tighten controls on cryptocurrency after new research warned that criminals and hostile states have laundered an estimated $350 billion using crypto over the past two decades.
Luxembourg Police Raid EFG Bank Over Compliance Concerns
Luxembourg authorities raided the premises of EFG Bank last week as part of a preliminary investigation into the institution’s compliance with anti-money laundering (AML) and counterterrorism financing (CTF) laws.
Tether Has Frozen Billions of Dollars in Crypto Linked to Illicit Activity
Stablecoin issuer Tether said it has frozen about $4.2 billion of its USDT tokens over links to “illicit activity,” with most of the freezes occurring in the past three years, as authorities worldwide intensify efforts to curb crypto-related crime.
In Finland, Rising Concerns Over the Risks of Russian Real-Estate Buys
Finnish authorities are tightening scrutiny of real-estate purchases after a series of Russian-linked property deals raised fears that land and buildings near military facilities and critical infrastructure could be used for espionage or sabotage.
Guernsey Mulls Granting More BO Access
Guernsey’s government is weighing new transparency rules that would let approved applicants access information on the beneficial owners of companies registered on the island.
When the ‘Person with Significant Control’ Isn’t Really a Person
Two cryptocurrency exchanges registered in the United Kingdom and marketed as processing more than $1 billion a day were fronted by a purported executive who “doesn’t seem to exist” and was instead portrayed using stock footage, OCCRP reported.
How Agentic AI Could Speed Up Crypto Money Laundering
Autonomous AI “agents” that can initiate and execute transactions without real-time human input are compressing the timelines that anti-money laundering (AML) compliance teams and law enforcement rely on to detect and stop illicit crypto activity.
Family of U.N. Official Sue U.S. in Fight Against Controversial SDN Sanctions
The family of Francesca Albanese, the U.N. special rapporteur for Palestine, sued President Trump and senior U.S. officials on Wednesday, challenging sanctions imposed on her over her advocacy for the prosecution of Israeli leaders and international companies connected to the war in Gaza.
Telegram Messaging App Increasingly Exploited by Fraudsters, Revolut Finds
The messaging platform Telegram has become a hub for job scams and other forms of fraud, Revolut is warning.
OFAC Blacklists Five Nicaraguan Officials for Alleged Abuses of Power
The U.S. on Thursday blacklisted five senior Nicaraguan officials for their alleged role in helping Nicaragua to consolidate authoritarian power through financial controls, labor policy, surveillance, and military intelligence operations.