money laundering
TechCrunch Minute: Where CZ’s sentencing leaves the state of crypto
Four months behind bars and a massive fine, that’s what CZ is getting from the government for his crypto exchange’s misdeeds. Regardless of how you view the verdict — too…
US sanctions Russian accused of laundering Ryuk ransomware funds
The U.S. government has sanctioned a Russian national for allegedly laundering millions of dollars’ worth of victim ransom payments on behalf of individuals linked to the notorious Ryuk ransomware group.…
Money laundering — the process of transferring assets around in order to disguise the illicit origin of the money — has been a huge and growing business for years, used…
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How the feds caught a notorious credit card fraudster
The U.S. government announced on Wednesday that it had dismantled “Try2Check,” a credit card checking operation that allowed cybercriminals involved with the bulk purchase and sale of stolen credit card numbers to see which cards were valid and active. Department of Justice prosecutors confirmed the indictment of Russian citizen Denis…
Police shut down dark web crypto laundering service linked to FTX hack
An international coalition of law enforcement agencies announced on Wednesday that it had taken down the popular dark web crypto laundering service ChipMixer, seizing more than $46 million in crypto…
India seizes $46 million from crypto exchange Vauld in money-laundering probe
India’s anti-money laundering agency has frozen assets worth $46.4 million from the local entity of Vauld for facilitating “crime-derived” proceeds from predatory lending firms in the latest headache for the…
The Dutch government agency responsible for investigating financial crimes said it has arrested an individual suspected of being a developer of the U.S.-sanctioned crypto mixing service Tornado Cash in a move…
US Treasury sanctions Tornado Cash, accused of laundering stolen crypto
The U.S. has sanctioned decentralized cryptocurrency mixing service Tornado Cash for its role in enabling billions of dollars’ worth of cryptocurrency to be laundered through its platform. Tornado Cash, along…
Identity verification company Youverify extends seed funding to $2.5M as it expands across Africa
This past month has seen several African fintechs such as Flutterwave and Union54 make headlines for compliance checks issues and fraud allegations. Both unlinked events re-emphasize the importance of know…
European Union lawmakers have agreed to a way forward on regulating crypto — covering the traceability of crypto assets being traded in the bloc and wider market rules, to protect…
BitMEX crypto exchange lays off a quarter of staff after failed acquisition
Derivatives-focused crypto exchange BitMEX has laid off about 75 employees, or a quarter of the company’s staff, days after its founders’ plans to acquire a German bank fell through. Staff…
UK’s Thirdfort nabs $20M for tools to help with ID verification, and detect money laundering and payment fraud
Money laundering has been a hot topic of late in the UK, which is facing pressure to not just make tighter rules to track down the origins of money that’s…
DOJ seizes $3.6B in bitcoins after busting entrepreneur couple in Bitfinex laundering scheme
The U.S. Justice Department (DOJ) has seized over 94,000 bitcoins that were allegedly stolen in the 2016 hack of crypto exchange Bitfinex and arrested a married couple suspected to have…
Hummingbird lands $30M to bring design thinking to anti-money laundering investigations
Hummingbird, which sells anti-money laundering software to banks and fintechs, announced today that it raised a $30 million Series B led by new investor Battery Ventures. Existing investors Flourish and…
FrankieOne nabs $16M to provide fintechs with ID and fraud management as a service
Fraud continues to be a major issue in the world of digital transactions, a situation that research shows was only compounded in the last 20 months of online activity growing…
London-based PassFort, a SaaS provider that helps business meet compliance requirements such as KYC (Know Your Customer) and AML (Anti-Money Laundering) reporting, has closed a $16.2 million Series A led…
Regulating crypto is essential to ensuring its global legitimacy
We must eventually find a halfway point between those with valid concerns about the anonymity crypto assets provide and those who see regulation as prohibitively restrictive on crypto.
Tiger Global leads $34M investment into Unit21, a no-code fraud prevention platform
Unit21, a startup that helps businesses monitor fraudulent activities with its no-code software, announced today it has raised $34 million in a Series B round of funding led by Tiger…
As more artists and musicians turn their attention to NFTs, so, likely, do money launderers
Outlets that follow the crypto industry have been observing a trend, which is that according to Google search data, the rise in interest in non-fungible tokens, or NFTs, now almost…
Feedzai raises $200M at a $1B+ valuation for AI tools to fight financial fraud
On the heels of Jumio announcing a $150 million injection this week to continue building out its AI-based ID verification and anti-money laundering platform, another startup in the space is…
Remessa Online raises $20 million to become the TransferWise of Latin America
Remessa Online, the Brazilian money transfer service, said it has closed on $20 million in financing from one of the leading Latin American venture capital firms, Kaszek Ventures, and Accel…
Salv, the anti-money laundering startup founded by ex-TransferWise employees, picks up $2M seed
Salv, an anti-money laundering (AML) startup founded by former TransferWise and Skype employees, has raised $2 million in seed funding. The round is led by Fly Ventures, alongside Passion Capital…
Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia
Crypto means risk. To UK company Elliptic it also means business. The startup has just closed a $23M Series B to step up growth for a crypto risk-management play that…
The startups creating the future of RegTech and financial services
Technology has been used to manage regulatory risk since the advent of the ledger book (or the Bloomberg terminal, depending on your reference point). However, the cost-consciousness internalized…
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How far are you willing to go for growth?
There is a deep dilemma facing startup founders that I think just isn’t brought to light often enough. On one hand, almost all (and I do mean almost all) founders are reasonably ethical people. They can be over-optimistic, they can over-promise, they can be inexperienced around management, but at their…
UK fintech startup Elliptic has pulled in a $5 million Series A round to keep building out its blockchain forensics tool. Its transaction-tracing technology mines the public Bitcoin ledger to…
American Banker wants to know whether the explosion in daily fantasy sports startups is creating “havens for money laundering.” It’s difficult to say. People have theorized that online betting is…
