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LATEST: High profile ‘Crypto Couple’ behind $4.5BN bitcoin money laundering scheme admit their guilt in New York courtroom

Premium August 3, 2023

A file photo of Heather Morgan, an New York-based aspiring rapper who goes by the stage name Razzlekhan. Heather Morgan was arrested in Manhattan on Tuesday Feb 8, 2022 alongside her husband, tech entrepreneur Ilya Lichtenstein, who today admitted conspiring to launder $4.5 billion in cryptocurrency.

NEWS: Australia to spend $166M to stay off FATF ‘grey list’ and shore up its AML defences

INSIGHT: Turning its back on extreme violence, Italy’s mafia mastered white collar crime turning over billions in dirty money

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NEWS: TD Bank says it’s spent $365M on fixing AML failings, hiring more FCC staff

A husband and wife cyber-crime team have admitted trying to launder $4.5bn (£3.5bn) of Bitcoin that he had stolen in a hack in 2016. Heather Morgan and Ilya Lichtenstein – dubbed the ‘Crypto Couple’ – were arrested last year in New York after police traced their riches back to the crypto heist. The tokens were…

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NEWS: Australia to spend $166M to stay off FATF ‘grey list’ and shore up its AML defences

INSIGHT: Turning its back on extreme violence, Italy’s mafia mastered white collar crime turning over billions in dirty money

 Premium

NEWS: TD Bank says it’s spent $365M on fixing AML failings, hiring more FCC staff

Regulatory Watch News

  • Ukraine-/Russia-related Designation Removal

    OFAC

    The following deletions have been made to OFAC's Sectoral Sanctions Identifications List:

    SBERBANK (SWITZERLAND) AG, Gartenstrasse 24, 8002 Zurich, Switzerland; PO Box 2136, Zurich 8027, Switzerland; Freigutstrasse 16, 8027 Zurich, Switzerland; SWIFT/BIC SLBZCHZZ; Website www.slb-bank.ch; Executive Order 13662 Directive Determination - Subject to Directive 1; Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209; Registration ID CH-020.3.908.277-7 (Switzerland); alt. Registration ID CHE-106.291.569 (Switzerland);

  • SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud Affecting More Than 1,500 SEC Filings

    SEC

    Washington D.C., May 3, 2024 —

    The Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023. The SEC also charged the Respondents with falsely representing to their clients that the firm’s work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm’s work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards.

  • Financial sanctions update: Global Human Rights

    OFSI

    On 3 May 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following 6 entries have been added to the Global Human Rights financial sanctions regime and are now subject to an asset freeze:

    • Neria Ben Pazi (Group ID: 16486)
    • Noam Federman (Group ID: 16489)
    • Eden Levi (Group ID: 16485)
    • Elisha Yered (Group ID: 16493)
    • Hilltop Youth (Group ID: 16487)
    • Lehava (Group ID: 16488)
    OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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