Business
The European Union's sweeping set of beefed-up cryptocurrency rules got final approval from member states Tuesday, giving the 27-nation bloc a global lead in regulating the freewheeling sector.
May 16, 2023
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Business
At parties, on stages and in meetings, Changpeng Zhao, who has been charged with illegal trading in the United States, is rarely seen without his black polo shirt, emblazoned with the insignia of his crypto firm Binance.
Mar 27, 2023
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Business
FTX co-founder Sam Bankman-Fried pleaded not guilty Tuesday to US criminal fraud charges over the spectacular collapse of his crypto exchange.
Jan 3, 2023
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Business
FTX co-founder Sam Bankman-Fried was due to appear in a US court Thursday to face criminal fraud charges over the spectacular collapse of his crypto exchange.
Dec 22, 2022
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Business
Sam Bankman-Fried, wanted in the United States for fraud after the collapse of his FTX cryptocurrency group, remained in a Bahamas prison Monday after an abortive court hearing that was to consider his possible extradition.
Dec 19, 2022
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Business
US prosecutors slapped disgraced cryptocurrency tycoon Sam Bankman-Fried with multiple criminal charges on Tuesday for massive fraud as he built his FTX crypto empire.
Dec 13, 2022
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Business
At parties, on stages and in meetings, Changpeng Zhao is rarely seen without his black polo shirt, emblazoned with the insignia of his crypto firm Binance.
Nov 10, 2022
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Security
A Ukrainian man has been charged with computer fraud for allegedly infecting millions of computers with malware in a cybercrime operation known as "Raccoon Infostealer," the US Justice Department said Tuesday.
Oct 25, 2022
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Business
Under the headline "Scammers in Paris", an online sleuth known as ZachXBT published a blog in August detailing how a pair of youngsters stole cryptoassets worth millions.
Oct 20, 2022
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Business
The Treasury Department is facing pushback from the cryptocurrency industry over sanctions imposed on a firm accused of helping to launder billions of dollars—with some funds going to North Korean hackers.
Aug 26, 2022
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Money laundering is the practice of disguising illegally obtained funds so that they seem legal. It is a crime in many jurisdictions with varying definitions. It is a key operation of the underground economy.
In US law it is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In UK law the common law definition is wider. The act is defined as taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property.
In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comptroller of the Currency to mean any financial transaction which generates an asset or a value as the result of an illegal act, which may involve actions such as tax evasion or false accounting. In the UK, it does not even need to involve money, but any economic good. Courts involve money laundering committed by private individuals, drug dealers, businesses, corrupt officials, members of criminal organizations such as the Mafia, and even states.
As financial crime has become more complex, and "financial intelligence information gathering intelligence" (FININT) has become more recognized in combating international crime and terrorism, money laundering has become more prominent in political, economic, and legal debate. Money laundering is ipso facto illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered).
This text uses material from Wikipedia, licensed under CC BY-SA
