Nasdaq buys Canadian fraud-detection company for $2.75 bn
Nasdaq agreed to acquire Verafin, a Canadian financial fraud-detection company, for $2.75 billion, the companies announced Thursday.
Nov 19, 2020
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Nasdaq agreed to acquire Verafin, a Canadian financial fraud-detection company, for $2.75 billion, the companies announced Thursday.
Nov 19, 2020
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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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The US Justice Department on Wednesday announced charges against five Chinese nationals and two Malaysians who ran global hacking operations for at least six years to steal identities and video game technology, plant ransomware, ...
Sep 16, 2020
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The European Central Bank inched closer to a "digital euro" on Wednesday with the formal launch of a pilot project, but questions remain about potential pitfalls and benefits for eurozone citizens.
Jul 14, 2021
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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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When President Nayib Bukele announced plans to create the world's first "Bitcoin City," a futuristic metropolis financed by cryptocurrency bonds, American Corbin Keegan packed up his life in Chicago and headed for El Salvador.
Jan 31, 2024
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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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A Ukrainian man was sentenced to more than 13 years in prison in Texas on Wednesday for his role in ransomware attacks by the notorious Russia-based REvil hacking group, the US Justice Department said.
May 2, 2024
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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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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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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