On March 9, 2020, a jury returned a verdict of guilty after a seven-day trial. Bondonno was convicted of five counts of wire fraud, one count of mail fraud, one count of conspiracy to launder money, and 27 counts of promoting money laundering. The jury found Bondonno not guilty on four counts of money laundering concealment. [Read more]
The United States has charged a North Korean bank official over his alleged involvement in crypto laundering and stolen on behalf of Pyongyang. [Read more]
While embezzlement and money laundering are both financial offenses that often involve the movement of large sums of money, the terms are far from interchangeable. According to the United Nations Office on Drugs and Crime (UNODC), between two and five percent of global GDP is laundered annually – amounting to approximately $800 billion to $2 trillion. [Read more]
In just two short decades, fintech—an amalgam of “finance” and “technology”—has exploded onto the scene, revolutionizing the financial services industry as we know it. This dynamic sector has been fueled by the various innovations that have shaped a generation, each one seemingly more game-changing than the last. [Read more]
European Union states on Tuesday gave the final nod to the world’s first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up. [Read more]
The U.S. indicted a Russian national for his alleged role in a US$150 million money laundering case. 65 million of which was used to illicitly purchase overseas gold bullion. [Read more]
In January 2022, the Federal Reserve released a research report titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The stated purpose of the paper was to begin a public discussion about central bank digital currencies (CBDC) and whether the Fed should issue one. [Read more]
Global investments in the fintech sector fell by more than 30% last year from 2021’s record high levels, according to research by KPMG. [Read more]
The former National Treasurer of Venezuela and her husband were each sentenced today to 15 years in prison. They were sentenced for their roles in a multibillion-dollar bribery and money laundering scheme. [Read more]
The cryptocurrency ecosystem is an ocean filled with several important acronyms you can’t overlook, and it may feel overwhelming to learn them all. However, two you will hear now and then in the ecosystem are AML and KYC. [Read more]
