Tag: Money Laundering

DoJ Dedicates Resources To Keep HSBC’s Money Laundering Report From The Public

Over the past few years, there has been a lot of talk about how bitcoin is used for money laundering purposes. A sit turns out, cryptocurrency is not suited for this type of illegal activity. Large banks are actively helping cartels launder money, yet very few people seem to be aware of this situation. A lot of experts are concerned about the scope of HSBC’s money laundering settlement. HSBC Was …
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UK Government Can Seize All “Suspicious” Assets Under Criminal Finances Bill

Money laundering is a serious offense, and governments do not take these matters lightly. In the United Kingdom a new law was introduced which allows suspicious funds to be seized without further question. The Criminal Finances Bill is designed to shake up money laundering in the UK, although it remains to be seen how effective this legislation will be in the end. Fighting Money Laundering With New Weapons Bringing money …
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More Than A Dozen Swiss Banks Under Investigation For Money Laundering

Money laundering in the financial sector is nothing new under the sun. A new report makes mention of how as many as 15 Swiss banks could be involved in a major money laundering scheme. In doing so, these financial institutions expose lenders to unnecessary risks, which will create a whole new set of problems down the line. Swiss Banks Are Not As Innocent As They Seem According to the report …
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Criminals Launder Money Through Virtual Game Currencies, Rather Than Bitcoin

As it turns out, money laundering goes well beyond traditional finance and even cryptocurrency. Online criminals are, according to a Trend Micro report, using online video game currencies to launder funds. While this may seem like taking two steps backward, it is an unregulated market waiting to be tapped for all kinds of reasons. Virtual Game Currencies Are The New Tool For Criminals It was only a matter of time …
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