money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Kuwait Imposes ‘Absolute Prohibition’ on Crypto Payments
Kuwait Imposes ‘Absolute Prohibition’ on Crypto Payments
July 20, 2023  |  Cryptocurrency

Kuwait has outlawed the use of cryptocurrency in payments or investments to prevent money laundering. Regulations unveiled earlier this week by the country’s Capital Markets Authority (CMA) place...

READ MORE >
Google Cloud Launches AML AI for Financial Institutions
Google Cloud Launches AML AI for Financial Institutions
June 21, 2023  |  Security & Fraud

Google Cloud has launched a new product, Anti Money Laundering AI (AML AI), which is an artificial intelligence-powered tool to help financial institutions detect money...

READ MORE >
Lebanon Central Bank Governor Denies Money Laundering and Embezzlement Allegations
Lebanon Central Bank Governor Denies Money Laundering and Embezzlement Allegations
March 16, 2023  |  Security & Fraud

Lebanon central bank Governor Riad Salameh has made his first court appearance facing international charges. Five European countries are investigating the Banque du Liban governor...

READ MORE >
Chainalysis Says Data and Smart Regulation Critical for Crypto Rehabilitation
Chainalysis Says Data and Smart Regulation Critical for Crypto Rehabilitation
March 14, 2023  |  Cryptocurrency

The year 2022 was one of the most tumultuous in the cryptocurrency industry’s brief history. It was a record year for another reason, too, as...

READ MORE >
Eventus Unveils Anti-Money Laundering Platform Validus
Eventus Unveils Anti-Money Laundering Platform Validus
January 31, 2023  |  AML

Eventus has debuted an anti-money laundering (AML) platform for traditional finance and digital asset companies. The Austin-based company, which provides transaction monitoring and market risk...

READ MORE >
Report: Crypto Lender Nexo Raided in Money Laundering Probe
Report: Crypto Lender Nexo Raided in Money Laundering Probe
January 12, 2023  |  Cryptocurrency

Bulgarian police have reportedly raided cryptocurrency lender Nexo in a money laundering and tax probe. Authorities are looking into Nexo on suspicion of money laundering,...

READ MORE >
Nigeria’s Cash Crackdown Stands in Contrast to EU’s Pro-Cash Agenda
Nigeria’s Cash Crackdown Stands in Contrast to EU’s Pro-Cash Agenda
January 08, 2023  |  Cash

The Central Bank of Nigeria (CBN) is taking a tough stance on the cash economy. On Monday (Jan. 9), new limits on ATM withdrawals come...

READ MORE >
Nigeria Continues Crackdown on Cash Economy
Nigeria Continues Crackdown on Cash Economy
January 05, 2023  |  Cash

Nigeria will ban cash withdrawals from government accounts from March 1. Modibbo Tukur, the chief executive of the Nigerian Financial Intelligence Unit (NFIU) said the...

READ MORE >
Chinese Police Break up Crypto-Using Money Laundering Group
Chinese Police Break up Crypto-Using Money Laundering Group
December 12, 2022  |  Cryptocurrency

Chinese police have reportedly broken up a money-laundering group that used cryptocurrency. The police arrested 63 people involved in the group that laundered 12 billion...

READ MORE >