Category Archives: Money Laundering

Israel Arrests 3 in Crypto Scheme to Launder Millions Stolen From France

By | August 17, 2022

Police in Israel have detained three suspects who allegedly laundered millions of euros stolen from the French treasury through cryptocurrency transactions. The money came from government grants for businesses affected by the Covid-19 pandemic. Israeli Law Enforcement Busts Money-Laundering Ring Using Coins to Clean Money for French Fraudsters Three people have been arrested in Israel… Read More »

Regulation of Cryptocurrency in South Africa Should Not Scare Away Investors Experts Say

By | July 30, 2022

Two experts have said they welcome South Africa’s planned regulation of cryptocurrency but warned this should not scare away investors. If the regulation is balanced between the need to protect investors and stimulating interest in crypto investment, this “could see funds stream into South Africa while growing the country’s burgeoning crypto ecosystem.” Crypto as a… Read More »

Report: Terror Groups Using South African Financial System to Move Funds

By | July 28, 2022

Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups. Millions of Dollars Laundered… Read More »

US Sends Bitcoin ATM Operator to Prison for Illegal Operation — 17 Machines Seized

By | May 29, 2021

A bitcoin ATM operator has been sent to federal prison for two years for running an illegal cryptocurrency exchange operation. U.S. authorities have seized 17 bitcoin ATMs, along with some cryptocurrencies, including bitcoin. Illegal Bitcoin ATM Operator Sent to Prison The U.S. Department of Justice (DOJ) announced Friday that a California man, Kais Mohammad, has… Read More »

Uganda’s Financial Intelligence Authority Wants Government to Formulate a Crypto Regulatory Framework

By | May 25, 2021

Uganda’s Financial Intelligence Authority (FIA) says it wants the country’s Finance Ministry to help formulate a regulatory framework for crypto service providers. According to the FIA, this call for the government’s intervention has prompted by the Ugandan crypto industry’s failure to comply with an earlier plea for industry players to register. Terrorism Concerns Furthermore, in… Read More »

Comparing the True Costs of Gold Mining in Africa With Those of Bitcoin Mining

By | May 24, 2021

When billionaire Elon Musk announced that Tesla would no longer accept bitcoin as payment for its electric vehicles, the price of the crypto asset tanked. In justifying this decision, Musk cited bitcoin mining’s inefficient use of electricity as well as its impact on the environment. In fact, before Musk waded into this debate, many opponents… Read More »

France Rejects Russian Request to Extradite BTC-e Operator Alexander Vinnik

By | May 22, 2021

Judicial authorities in France have refused to grant the extradition request filed by Russia for Alexander Vinnik. According to the Russian Ombudsman, Vinnik is now ready to start a new hunger strike despite his health deteriorating after spending almost four years in detention. Court Case Against Vinnik Continues in France The operator of the infamous… Read More »