Iran Seeks Crypto Payments for Strait-of-Hormuz Tolls after Ceasefire
Iran is seeking to collect transit tolls from oil tankers passing through the Strait of Hormuz in cryptocurrency, a move that could deepen the role of digital assets in the country’s sanctions-hit economy.
Cash Is No Longer King of U.S.-Mexico Remittances
Digital money transfers have overtaken cash for the first time in the U.S.-to-Mexico remittance corridor, marking a shift in the world’s largest flow of cross-border family payments and intensifying pressure on traditional cash-based providers.
As Chen Zhi’s Pig-Butchering Empire Grew, So Did His Financial Footprint
Once celebrated as a philanthropist and real estate magnate, Cambodian tycoon Chen Zhi built a web of political influence and banking relationships that helped shield what authorities now describe as a vast transnational scam and gambling syndicate.
U.S. Launches New Probe into Binance Transfers Linked to Iran
The U.S. Justice Department is investigating Iran’s use of Binance to evade U.S. sanctions, according to new reporting by The Wall Street Journal.
Ex-Star CEO Faces Millions in Fines for AML Lapses
Star Entertainment’s ex-chief executive Matthias Bekier and former in-house lawyer Paula Martin breached their directors’ duties during the casino operator’s “Chinese money-laundering era”, the Australian Federal Court found.
When a U.S. Anti-Bribery Law Is a Statecraft Weapon, Not a Domestic Deterrent
Washington is increasingly turning U.S. anti-corruption enforcement into an instrument of economic statecraft—a shift that threatens to undercut decades of American efforts to fight illicit activity abroad.
EU’s Pandemic Recovery Fund May Have Lost €5 Billion to Fraud
The European Public Prosecutor’s Office (EPPO) is facing a sharp rise in suspected fraud linked to the EU’s pandemic recovery fund, with estimated losses tied to the program approaching €5 billion, Follow the Money reported, citing figures in the office’s annual report released Monday.
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.
Australian Banks and Businesses Tackle Financial Abuse Together
A newly formed group of businesses and organizations in Australia are set to team up to fight financial abuse as part of a new program that encourages collaboration to address major social and economic ills.
Dubai Authority Tightens Oversight of Crypto, Bans Privacy Coins
The Dubai Financial Services Authority (DFSA) has banned the use of crypto privacy tokens in the special economic zone the body oversees, citing anti-money laundering and sanctions compliance risks, CoinDesk reported.