Saturday, September 18, 2021

Technology

Robinhood crypto unit expects $10m fine from New York regulators over cyber, anti-money laundering breaches

The cryptocurrency brokerage of Robinhood Markets Inc. expects to pay New York regulators a penalty of at least $10 million for allegedly violating state rules on cybersecurity and anti-money-laundering practices, the company said in filings last week. The unit, Robinhood...

Brazil’s Bitcoin Banco Group president arrested for embezzling $300m crypto funds

Claudio Oliveira, former head of Brazil-based crypto brokerage firm Bitcoin Banco Group, was arrested on Monday for embezzling $300 million worth of investors’ funds. What Happened: According to a press release from Brazil’s federal police, authorities issued arrest warrants for Oliveira and several...

U.K. met police seize $160m in cryptocurrency in money laundering probe

About £114m of cryptocurrency has been seized by UK police as part of a money-laundering investigation. The Metropolitan Police said the confiscation was the largest of its kind in the UK, and one of the largest in the world. Last year, US...

India investigates Binance’s WazirX over crypto transactions

India’s financial crime-fighting agency said on Friday that WazirX, one of the country's largest cryptocurrency exchanges and its directors, were under investigation for suspected violation of foreign exchange regulations. The investigation comes at time when the Indian government is mulling...

DOJ reclaims majority of ransom paid to Colonial Pipeline hackers

The Justice Department, in conjunction with other federal authorities, on Monday said that the majority of the ransom Colonial Pipeline Co. paid to hackers last month has been recaptured. During a news conference, Deputy U.S. Attorney General Lisa Monaco said...

How criminals are laundering cryptocurrencies

In the world of online crime, anonymous cryptocurrencies are the payment method of choice. But at some point, virtual hauls need to be turned into hard cash. Enter the “Treasure Men”. Finding a Treasure Man is easy if you know...

UK banks suspend payments to cryptocurrency exchanges

Banks are cracking down on transfers to cryptocurrency exchanges by suspending payments to the sector amid rising fears that it has become a hotbed for financial crime. Customers of banks including Barclays, Monzo and Starling are among those to have...

Ericsson agrees $97million settlement with Nokia in bribery probe

Ericsson has agreed to pay Nokia EUR 80 million (roughly $97 million) for a damages claim related to bribery and corruption investigations previously settled with U.S. authorities. In 2019 Ericsson was fined more than $1 billion to resolve separate but related cases...

U.S DoJ, IRS probe crypto exchange Binance over crypto crimes

Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market. As part of...

German regulator orders N26 to fix money-laundering controls

Germany’s financial regulator has told N26 Bank GmbH, a hot digital startup with operations in Europe and the U.S., to implement proper controls to prevent money laundering, taking the unusual step of appointing a special monitor to watch over...

Latest News