News & Analysis as of November 10, 2024

Money Laundering

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

Deeper Dive: Understanding the 2023-24 Crypto Threat Landscape

BakerHostetler on 8/8/2024

As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more

FinCEN Issues Analysis of Increasing Elder Financial Exploitation

Ballard Spahr LLP on 5/2/2024

The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation...more

Weekly Blockchain Blog - March 2024 #3

BakerHostetler on 3/18/2024

Financial Firms Complete Blockchain Pilot, UK Approves Crypto ETNs - A recent press release announced completion of the Canton Network pilot, “a first-of-its-kind program demonstrating the interoperability of twenty-two...more

Fraud Is The Number One Crime In Money Laundering

Foodman CPAs & Advisors on 3/13/2024

On February 2024, the U.S. Treasury released the 2024 National Money Laundering Risk Assessment (NMLRA) which examines the current money laundering environment and identifies the ways in which criminals and other actors seek...more

INTERPOL seizes $300 million in international financial crime operation

Orrick, Herrington & Sutcliffe LLP on 1/8/2024

On December 19, INTERPOL announced the conclusion of a transcontinental police operation against online financial crime called HAECHI IV. The operation ended with around 3,500 arrests and seizures of $300 million USD worth of...more

U.S. Exchange Closes, Swiss Bank Expands Crypto Offerings; NFA Issues Digital Asset Commodities Rule; Crypto Enforcement...

BakerHostetler on 4/10/2023

Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings - Late last month, Bittrex, a leading cryptocurrency exchange founded in Seattle, announced it was closing U.S. operations effective April 30,...more

Top NFT-Related Cybersecurity, Phishing, Hacking and Other Risks in 2022

BakerHostetler on 10/27/2022

The continued growth of the market for nonfungible tokens (NFTs) in 2022 has helped shape the zeitgeist of what has been referenced colloquially by some as the “fourth industrial revolution,” defined largely by network effect...more

U.S. Bank Acquires Blockchain Infrastructure; SEC Approves Blockchain-Based Exchange; FTC Warns on Crypto Scams; NFT Threats,...

BakerHostetler on 2/7/2022

U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released - A well-known digital payments consortium sold its technology platform this week to a U.S.-based bank known for its cryptocurrency-related offerings....more

Michigan man sentenced to prison and ordered to repay $210,000 in crypto scam

Hogan Lovells on 2/10/2020

A man from Michigan has been ordered to repay about $210,000 for his role in a cryptocurrency scam. The fraudster solicited investments from two people, promising them large returns, but he used the investment proceeds to buy...more

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