In the “Weekly Round-Up” we summarise and give extra reading suggestions for some of the past weeks financial crime news headlines, powered by Acuminor’s crime universe ThreatView®.
Weekend again! This week’s top stories for your weekend read are as follows.
Law enforcement in the USA has seized over $3.6 billion in cryptocurrency linked to a hack of the virtual currency exchange, Bitfinex, in 2016. The Deputy Attorney stated that “the defendants, in a futile effort to maintain digital anonymity, the defendants laundered stolen funds through a labyrinth of cryptocurrency transactions”. The press release also contains “the statement of facts” that explains the fundamental ways they tried to launder the funds. It is a fascinating story.
From the Asia/Pacific Group on Money Laundering (APG), a new publication on financing and facilitation of foreign terrorist fighters and returnees in southeast Asia has been released. It is a bit of a longer read, so grab it and sit down in a comfortable position for this.
To finish this week’s highlights, it ends with a study that came out last Friday from the U.S. Department of the Treasury. The Study on Illicit Finance in the High-Value Art Market. There has been a lot of talk about money laundering through non-fungible tokens (NFT) lately, but money laundering through the art market is nothing new and equally evolving