Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

AML, Crypto, Financial Crime, US

NEWS: US charges KuCoin crypto exchange with AML failures

US charges KuCoin crypto exchange with AML failures

By Jody Godoy

Federal prosecutors in Manhattan charged cryptocurrency exchange KuCoin on Tuesday with violating US anti-money laundering laws, allowing billions of dollars in illicit funds to be transferred since its founding in 2017.

Seychelles-based KuCoin is one of the world’s largest cryptocurrency exchanges. Prosecutors said the exchange sought business from US customers without registering with the US Treasury Department and putting in place procedures to verify clients’ identities as required by US law.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!