Changpeng Zhao, the undisputed king of crypto
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
0
10
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
0
10
Computer scientists have developed a new tool that enables quicker and more accurate detection of money laundering, with the ability to scan 50 million transactions in less than a second.
Sep 22, 2023
0
32
Money laundering is big business but wholly illegal big business. It has an enormously negative impact on local, national, and international economies as well as providing the financial means to fund other criminal activities ...
Aug 10, 2020
0
11
A former Apple employee has been charged with defrauding the tech giant out of more than $10 million by taking kickbacks, stealing equipment and laundering money, federal prosecutors said.
Mar 20, 2022
0
12
Binance has agreed to repatriate its US customers' assets pending a massive lawsuit against the world's largest crypto exchange, the US Securities and Exchange Commission said Saturday, adding that it will secure the funds.
Jun 18, 2023
0
3
When was the last time you used cash? For many Australians using cash or even swiping a card has become a rare event.
Oct 17, 2023
0
17
Counterfeit Australian identity documents, especially driver's licenses, rank among some of the most frequently listed and sold identity documents on anonymous dark web marketplaces, according to new research from the Center ...
Nov 15, 2023
0
2
Two years ago, El Salvador shrugged off a chorus of warnings and adopted Bitcoin as legal tender in a bid to revitalize its economy and improve access to financial services.
Sep 7, 2023
0
12
A US federal judge on Friday ordered FTX founder Sam Bankman-Fried back to prison less than two months before his trial on fraud charges, revoking the disgraced cryptocurrency tycoon's bail over alleged attempts to tamper ...
Aug 12, 2023
1
20
IRS criminal investigators see cryptocurrencies and nonfungible tokens as ripe for fraud, including money laundering, market manipulation and tax evasion—and even celebrities could get caught up in the agency's probes.
Jan 26, 2022
1
5
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