Panic and chaos is always an advantage to criminals, making it easier to get away with their illegal activities. However, law enforcement agencies in the USA do their best to deliver the rightful punishment to those who wish to get rich using the situation, and the effectiveness of their work grows even faster than the crime rate.
Belarus cybercrime authorities want to confiscate cryptocurrency involved in criminal activity, including money-laundering, terrorism financing and other fraudulent operations. All they need is an official permission from the government and the President.
On March 11, the Tokyo Metropolitan Police arrested two people in connection with the $580m hack on cryptocurrency exchange Coincheck. The police revealed that the two men were found in possession of NEM cryptocurrency linked to the cryptocurrency stolen from the exchange in 2018.
Cryptocurrencies and blockchain technology have peculiarities that, in the absence of adequate supervision, mean they are likely to become instruments harmful to the economic and monetary system as a whole, and risky for individual users, and be an additional useful tool for criminal organizations.
United States (US) authorities have accused a 25-year-old individual of illegally operating a cryptocurrency business. The suspect identified as Kunal Kalra otherwise known as ‘Kumar’ exchanged around $25 million in both fiat currency and cryptocurrency that was gained from his unlicensed and unregistered money transferring business, Finance Magnates reveals. It is allegedly said that the US Dept. of Justice charged Kumar with 4 counts of felonious information.
With the alarmingly increasing rate of illicit activities associated with cryptocurrencies including Bitcoin, the Maltese government, through a Financial Crime team created by the MFSA, a monetary regulator, has decided to up its game by reinforcing inspection and compliance in order to combat the challenge of financial crime. With this result, the MFSA’s existing resources have been increased by a newly established team offered by FTI Consulting, a multinational business consultancy company based in the United States (US).
Cryptocurrency poses four major types of risk, namely, financial, monetary, criminal and law enforcement, according to a report by the Guardia di Finanza (Gdf). The techniques are somehow sophisticated, restrained and variable. Judicial authorities registered increased complaints related to the illicit use of digital currencies.
Gambling has always been a very profitable venture, provided you are the casino owner, not the gambler. Numerous problems found in traditional gambling businesses vary from causing addiction to trespassing the fine line delimiting grey area from crime. However, with the advent of the internet things have changed.
The United Kingdom (UK’s) South East Regional Organized Crime Unit (SEROCU), Europol, Hessen State Police of Germany and the UK’s National Crime Agency (NCA), tactically-technically arrested a 36-year old British man suspected of fraud, money laundering and theft crimes.