Nepal’s Financial Intelligence Unit (FIU), tasked with countering financial crimes, money laundering, and terrorist financing, has flagged cryptocurrencies as a key instrument in criminal activities.
Tether, TRON, and TRM Labs established the T3 Financial Crime Unit (T3 FCU)—a collaborative initiative aimed at fighting financial crimes within the cryptocurrency sector. This is a pioneering move where private companies united to assist law enforcement agencies.
Elliptic, the analytical company, has released a report on the application of AI in crypto asset crimes.
Consulting firm Deloitte is seeking cryptocurrency experts holding Secret and Top Secret clearances issued by the U.S. Department of State. These specialists will be involved in probing financial crimes linked to cryptocurrencies and other digital assets.
The U.S. Financial Crimes Enforcement Network (FinCEN) has released a report that unveils statistics on the use of various cryptocurrencies in crimes related to human trafficking and the sexual exploitation of children between 2020 and 2021. Throughout this period, the criminal funds identified amounted to $412 million.
Law enforcement and regulatory authorities in Ukraine recently underwent advanced training in probing financial crimes related to cryptocurrencies and digital assets.
Chainalysis CEO Michael Gronager predicts that within the next five years, governments will increasingly leverage AI to uncover financial crimes on the blockchain, including tax evasion. This initiative is expected to be coordinated rather than fragmanted across various agencies.
On April 12th, a former senior security engineer for a major international tech company was sentenced to three years in prison. His crimes involved the hacking of two decentralized cryptoexchanges, as well as the theft of over $12 million in digital assets.
Crypto enthusiast Preston Pysh has scrutinized the recent proposals by the Financial Crimes Enforcement Network (FinCEN) aimed at tracking all cryptocurrency transactions. He contends that these rules are in conflict with several US laws and the Constitution, and they do not align with the traditional scope of bank transfers.
The Brazilian Congressional Committee has recommended that local law enforcement authorities bring charges against Changpeng Zhao and three other executives of Binance on allegations of fraud and other financial crimes.
