Binance in Australia is under the spotlight, as the AUSTRAC has given the company and order to strengthen the company’s AML, terror funding, and CTF.
Money Laundering
Experts are concerned over an AI-based fake ID maker whose product is so convincing that it’s tricking identity verification processes.
U.S. federal prosecutors asked Binance, the world’s largest cryptocurrency exchange, to provide extensive internal records about its anti-money laundering checks, along with communications involving its chief executive and founder Changpeng Zhao, according to a late-2020 written request seen by Reuters. The Justice Department’s money laundering section asked Binance to voluntarily hand over messages from Zhao […]
Non-Fungible Tokens (NFT) fame has immensely grown amongst tech enthusiasts, traders, creators, and criminals, with money laundering activities concerning NFTs reaching new heights as it grows daily, Chainalysis report finds. In its report released on Wednesday, Chainalysis reported that a modest yet growing amount of money laundering activity had been associated with the buying and […]