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NEWS: How Binance became the global laundry for child abusers, terrorists, sanctions busters and hackers; Yellen says Changpeng Zhao ‘turned blind eye’ to dirty money; must pay record $4.3BN settlement

Premium November 21, 2023

BAD ACTORS: Prosecutors revealed today how Binance became an exchange for every serious bad actor in the globe – from international terrorists to organised crime. Moreover, customers from Iran, Cuba and Syria — all of which face sanctions — were able to access the Binance platform, court documents revealed. Binance “turned a blind eye” as it allowed Hamas’ Al-Qassam Brigades, Palestinian Islamic Jihad (PIJ), Al Qaeda and ISIS to use the platform, Treasury Secretary Janet Yellen said.

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NEWS: CIBC is Canada’s latest bank fined for failure to submit STRs, hit with C$1.3M penalty

NEWS: FinCEN awards law enforcement agencies which used BSA to launch criminal investigations

NEWS: Bizlato exchange was ‘open turnstile’ for dirty money as Russian co-founder admits processing $700M in illicit funds

By AML Intelligence Correspondents THE FULL scale of Binance’s role as a global money laundry for terrorists and organised crime was revealed as the company’s ceo pleaded guilty in a US court overnight. It came as Binance chief Changpeng Zhao admitted money laundering and sanctions offences while the crypto currency exchange agreed to a massive…

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Premium

NEWS: CIBC is Canada’s latest bank fined for failure to submit STRs, hit with C$1.3M penalty

NEWS: FinCEN awards law enforcement agencies which used BSA to launch criminal investigations

NEWS: Bizlato exchange was ‘open turnstile’ for dirty money as Russian co-founder admits processing $700M in illicit funds

Regulatory Watch News

  • Queensland men arrested over 560kg WA cocaine bust

    Australia Federal Police

    The AFP has charged two men for their alleged involvement in the importation of about 560kg of cocaine seized by authorities in Western Australia’s Mid-West region in August, 2023. The Queensland men faced court in Mackay last week (30 November, 2023) and were both extradited to WA on charges of attempting to import a commercial quantity of cocaine.  

  • National Crime Agency calls on parents to help young people recognise the signs of money muling

    National Crime Agency

    The National Crime Agency is asking parents and carers to help young people avoid being persuaded or manipulated into laundering criminal cash. The NCA’s call follows three weeks of coordinated law enforcement action against money mules – a term given to individuals enlisted by criminals to move the proceeds of crime through their bank accounts in return for a cut of the sum.

  • Croatia: EPPO investigates former minister and ministry employee for abuse of office and authority

    European Public Prosecutor's Office

    (Luxembourg, 8 December 2023) – The European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia) has officially initiated an investigation against two persons – a former minister and a former employee of Croatia’s Ministry of Regional Development and EU Funds (MRRFEU) – for abuse of office and authority. This follows a preliminary investigation conducted in cooperation with Croatia’s National Police Office for the Suppression of Corruption and Organised Crime (PNUSKOK).

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