Clik here to view.
DOJ, FBI and FinCEN Continue to Focus on Crypto and Cyber Financial Crime
Federal law enforcement and regulators continue to focus on technology-driven financial crime — specifically, cyber-enabled fraud and the laundering of illicit funds through cryptocurrency. Last week,...
View ArticleClik here to view.
Russian Sanctions Redux: FinCEN Issues Guidance on Suspicious Transactions...
Sanctions involving Russia is a front-burner issue for all businesses, but particularly for financial institutions. As we previously blogged, the Financial Crimes Enforcement Network (“FinCEN”) issued...
View ArticleNYDFS Stresses Use of Blockchain Analytics for AML Compliance by Virtual...
On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics, a document directed to all virtual currency business entities that either...
View ArticleClik here to view.
OFAC Sanctions Virtual Currency “Mixer” Tornado Cash and Faces Crypto Backlash
On August 8, the Office of Foreign Assets Control (“OFAC”) sanctioned “notorious” virtual currency “mixer” Tornado Cash, which allegedly has been used to launder more than $7 billion worth of virtual...
View ArticleClik here to view.
Darkweb Cryptocurrency Mixer ChipMixer Shut Down for Allegedly Laundering $3...
The U.S. Department of Justice (“DOJ”) announced on March 15, 2023 that in a coordinated effort between U.S. Federal Bureau of Investigations, Europol, and German police, the darknet cryptocurrency...
View ArticleClik here to view.
U.S. Treasury Releases Report and Recommendations Regarding Vulnerabilities...
On April 6, 2023, the U.S. Department of the Treasury released a report examining vulnerabilities in decentralized finance (“DeFi”), including potential gaps in the United States’ anti-money...
View ArticleClik here to view.
State of Wyoming Wades Into Custodia Bank Dispute with Federal Reserve — In...
On April 13, the State of Wyoming took the extraordinary step of filing a request for permission to intervene in the ongoing dispute between Custodia Bank, Inc. (“Custodia”) and the Board of Governors...
View ArticleClik here to view.
PLI Anti-Money Laundering Conference to Address Key Issues in BSA/AML
Enforcement Trends, Crypto, Regulatory Developments — and More I am very pleased to co-chair again the Practicing Law Institute’s 2023 Anti-Money Laundering Conference on May 16, 2023, starting at 9...
View ArticleClik here to view.
A Look at the Treasury Department’s April 2023 Report on Decentralized...
We are pleased to offer the latest episode in Ballard Spahr’s Consumer Finance Monitor podcast series, A Look at the Treasury Department’s April 2023 Report on Decentralized Finance or “DeFi.” In...
View ArticleClik here to view.
Leveraging AML Measures to Combat Tax Crimes. A Guest Blog.
As we have blogged repeatedly, there is a close nexus between money laundering and tax crimes. The frequent connection between the two sets of offenses – and the potentially related methods of...
View ArticleClik here to view.
Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial
It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges...
View ArticleClik here to view.
Fighting Crypto Crime: A Guest Blog.
Today we are very pleased to welcome guest blogger Lili Infante, who is the CEO of CAT Labs – a tech company building digital asset recovery and quantum-resistant cryptography tools to fight crypto...
View Article
