To have a clear picture of the world’s worst money laundry schemes, new cybercrime frontiers, and organized crime, perhaps Latin America (LATAM) is the best specimen for you. In the midst of a major economic downturn, Latin American countries are facing the worst money laundering schemes as a result of the increase in cryptocurrencies and […]
Financial Crime Enforcement Network
US Treasury to Introduce New Cryptocurrency Regulations
The US Treasury plans to introduce new rules and regulations on Digital currencies intended to crack down on its use to facilitate money laundering and other illicit activities Steven Mnuchin, the treasury secretary told a Senate Finance Committee that the Financial Crimes Enforcement Network will soon announce new rules on digital payment and cryptocurrency. The […]
FinCEN Warns Social Media Companies Eyeing on Cryptocurrency
FINCEN’s Jamal El-Hindi warns companies building cryptocurrencies about illegal transactions. FinCEN will have a close look at all the illicit transactions happening across Social Media. FinCEN sees Social Media, Messenger applications as the top infected platforms for money laundering and terrorist financing. Speaking during the Anti-Money Laundering conference, the deputy director of the Financial Crime […]