U.S. and U.K. target Prince Group in joint operation

Transparency International has urged lawmakers to reexamine some parts of the digital asset market structure bill. The firm wants Congress to ensure that crypto legislation includes measures to protect against #money laundering and sanctions evasion, and more. The organization argued that virtual assets are becoming the new tools for laundering the proceeds of #corruption, including #bribery and #embezzlement. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #digital #cryptocurrency #crypto #blockchain #virtualcurrency #btc #ethereum #bitcoin #digitalassets #virtualassets #stablecoin #nft #eth #ltc #token #us #usa #unitedstates https://lnkd.in/dbfrm-CM

Massive Global Crypto Bust: UK Police Seize Record £5.5 Billion in Bitcoin UK law enforcement has made history with the world's largest-ever cryptocurrency seizure, confiscating a staggering **£5.5 billion (approximately $7.39 billion)** worth of Bitcoin. This monumental haul, which involved 61,000 Bitcoin, led to the conviction of Chinese national Zhimin Qian (also known as Yadi Zhang) for acquiring and possessing criminal property. This record-breaking operation by the Metropolitan Police sends a clear and strong message: the days when criminals could hide massive fortunes behind the perceived anonymity of cryptocurrency are rapidly coming to an end. The massive seizure is linked to a sophisticated, large-scale investment fraud orchestrated by Qian in China between 2014 and 2017. The scheme defrauded more than **128,000 victims**, many of whom were elderly, by luring them with false promises of high daily dividends and guaranteed profits. After convincing victims to invest their funds, the criminal proceeds were systematically converted into Bitcoin. Qian then fled China using false documents and attempted to launder the digital assets through property purchases in the U.K. This case provides a textbook example of how financial fraud rings exploit public trust and then rely on crypto to move vast sums of money across international borders. The successful conviction and recovery of these funds underscore the crucial progress global law enforcement is making in adapting to the digital crime landscape. It highlights the growing effectiveness of technical tracing and international cooperation against transnational financial crime. For all professionals and businesses, this is a definitive warning: the integration of cryptocurrency into financial systems necessitates heightened vigilance. We must continue to invest in anti-money laundering (AML) capabilities and collaborate across sectors to prevent digital assets from being used as a vehicle for crime. #CryptoCrime #Cybersecurity #MoneyLaundering #Bitcoin #LawEnforcement

On September 11th, 24 years have passed since one of the acts of terrorism that has most marked humanity, for this reason, and in honor of the victims who lost their lives, Association of Certified Financial Crime Specialists - ACFCS gave an interesting webinar: 9/11 Webinar — Tracing Terrorist Crypto Flows: From Telegram Channels to OFAC Sanctions". In this sense, I share some important aspects to consider when tracing blockchain effectively and mitigating the risk of financial crimes through it: ✅️Understanding the jurisdictional risks of new technologies (crypto) and Virtual Assets Services Providers (VASP) in the fight against money laundering and terrorist financing (Rec.1,15,16): 1️⃣Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers by Financial Action Task Force (FATF) https://lnkd.in/e-b2PU-z 2️⃣The 2025 Global Adoption Index by Chainalysis https://lnkd.in/eM_cjAQ8 3️⃣PwC’s Global Crypto Regulation Report 2025 https://lnkd.in/eFB8HEvz ✅️Understand the key actors that can intervene in a traceability process: 1️⃣Blockchain; 2️⃣Attribution; 3️⃣Counterparty: Counterparty risk; 4️⃣Exposure direct and indirect; 5️⃣Mixers and Tumblers; 6️⃣Transaction Hash; 7️⃣Know Your Customer Information; 8️⃣Virtual Asset Service Provider (VASP); ✅️Understand What is Blockchain Tracing?: Tracking the source and destination of crypto- currency transactions recorded on the currency’s blockchain. ✅️Typical steps for Blockchain Tracing: 1️⃣Input transaction hash, incoming/outgoing addresses, or other information into blockchain tracing software. 2️⃣Identify any obvious leverage points by mapping out the transaction network. 3️⃣Identify third parties which may retain information about the controller of the addresses. 4️⃣Use legal process to obtain information about the controller of the address from the third parties. ✅️The investigator should request not only KYC documents, but also: 1️⃣Account balances; 2️⃣Subscriber information; 3️⃣Email address association; 4️⃣IP address information; 5️⃣Full transaction history; 6️⃣Device ID information; 7️⃣Identification of associated accounts; 8️⃣An omnibus “all records associated with the account and registrant. ✅️Virtual Asset Service Provider (VASP): They play a key role in cryptocurrency flow traceability processes, as a regulated and properly licensed VASP with effective AML controls mitigates the risk of financial crimes. It's important to understand the type of virtual currency traded with this provider, as some currencies, such as privacy coins, are riskier than others. ✅️Understand what to do when you identify that an SDN handles a virtual currency: 1️⃣Freezing and blocking; 2️⃣This does not mean that the currency must be converted to fiat; and 3️⃣The competent authority must be notified within the timeframe established in your jurisdiction. Other sources: https://lnkd.in/eajQ44Kb Global Terrorism Index 2025: https://lnkd.in/eU3gHwNQ

🚨 OKX freezes funds tied to Cambodia’s Huione Group after U.S. sanctions label it a major money-laundering threat. The move signals stricter global crypto compliance and tougher action on illicit finance. #OKX #CryptoNews https://lnkd.in/dSvkp_EU

📢 📢 France Opens On-Site Anti-Money Laundering Inspections Of Dozens Of Crypto exchanges, Including Binance & Coinhouse The inspections are part of France’s effort to decide which of the more than 100 entities registered to operate under regulations. The ACPR has run on-site controls since late 2024 and has told firms such as Binance to bolster risk-management controls. https://lnkd.in/dpPawVUe

Sanctions Evasion by Crypto Infrastructure Providers Crypto infrastructure providers from centralized and decentralized exchanges to custodial wallets, OTC brokers, and payment processors are increasingly in the spotlight of sanctions enforcement. While they enable access to digital finance, they are equally vulnerable to exploitation by sanctioned entities and illicit networks. Sophisticated actors use tools such as mixers, tumblers, privacy coins, nested accounts, and cross-chain bridges to conceal the trail of funds. Decentralized finance (DeFi) platforms, with limited KYC/AML oversight, are particularly attractive for sanctions evasion. These gaps highlight why regulators globally are pressing for stricter oversight, and why compliance teams cannot afford blind spots. To counter these risks, institutions must: 📎 Implement enhanced due diligence for high-risk jurisdictions and counterparties. 📎 Deploy robust blockchain analytics to detect red flags such as layering through mixers or unusual cross-chain activity. 📎 Foster proactive engagement with regulators and industry peers to share intelligence. Ultimately, protecting the integrity of the global financial system requires proactive oversight of crypto infrastructure providers. Those who strengthen controls today not only mitigate sanctions risks but also reinforce market trust and resilience. #SanctionsEvasion #CryptoCompliance #FinancialIntegrity

Attention 📣 Crypto asset services providers or CASPS are regulated in SA ⚠️. Is your crypto business compliant❓ First, under the Financial Advisory and Intermediary Services Act (FAIS), crypto assets are now officially classified as a financial product 💸. This was an urgent measure to protect consumers from abuse in the volatile crypto market 🧨. CASPs must obtain a FAIS license and adhere to strict standards of skill, diligence, disclosure, operational soundness, and more 📊. Second, the Intelligence Centre Act (FICA) designates CASPs as “accountable institutions” 🏭. This brings them under anti-money laundering and counter-terrorist financing regulations, requiring them to register with the FIC, implement risk-based compliance programs, and report suspicious activities 🕵️♂️ In this second article in our series on crypto regulation, we explore the above requirements. Coauthored by my Werksmans Attorneys colleagues Hilah Laskov and Hlonelwa Lutuli Click the link below 👇

The new investigation released by Transparency International Russia reveals that the team behind the rogue crypto exchange #Garantex created a number of firms facilitating #money laundering operations. #Payment platform #Exved is named as a tool that helps Russian clients to park money outside #Russia, leaving no trace in Russian #banks. Of $96 billion processed via Garantex, at least $1.3 billion was directly linked to #criminal activity. Billions of dollars in crypto have already been transferred through the new infrastructure after Garantex’s shutdown. The old addresses of Garantex are still in use. The Gatantex team-tied network facilitates international money laundering operations through Russian and foreign banks such as J.P. Morgan HK, Deutsche Bank Hong Kong, DBS HK, and Bank of China. Also, it allows dual-use commodities import in Russia. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #digital #cryptocurrency #crypto #blockchain #virtualcurrency #btc #ethereum #bitcoin #digitalassets #virtualassets #stablecoin #nft #eth #ltc #token https://lnkd.in/gH8aduze

Kazakhstan Shuts Down RAKS Crypto Exchange Linked to Money Laundering Kazakhstan’s financial crime agency has taken decisive action against the RAKS crypto exchange, accusing it of being involved in significant money laundering operations tied to darknet marketplaces. This crackdown reveals a growing trend among law enforcement agencies targeting illicit activities within cryptocurrency sectors. Authorities Freeze […] https://lnkd.in/d-KzbH93 Cyber Warriors Middle East #CyberWarriorsMiddleEast #CyberWarriorsConclave #CWME #CWC #Cybersecurity #CyberThreats #MitigatingCyberAttacks #MiddleEast #UAE #Dubai

The global crackdown on crypto-driven organised crime has entered a defining phase. In the largest-ever asset forfeiture in U.S. history, authorities have seized $15 billion in Bitcoin linked to Southeast Asian scam compounds that trafficked and enslaved victims to run “pig-butchering” and romance scams. The U.S. Treasury, Department of Justice, and U.K. authorities have jointly sanctioned 146 individuals and entities, froze a £12 million London mansion, and indicted the alleged masterminds behind this billion-dollar network. These scam centers—spanning Cambodia, Thailand, Singapore, and beyond—represent the dark intersection of crypto crime, human trafficking,romance scams and global money laundering. For years, criminals have exploited the opacity of crypto flows, using mixers, unhosted wallets, and shell companies to hide illicit proceeds. Those days are fading fast. The forensic tracing of blockchain transactions by U.S. and U.K. investigators, supported by partners like Chainalysis, marks a new era in digital asset enforcement. It proves that even in decentralized finance, there are no safe havens for dirty money. The same technology that once empowered anonymity is now empowering accountability. Congratulations to the agencies and investigative journalists—from the DOJ, OFAC, and Homeland Security to global reporters at Project Brazen, Reuters, and The Guardian—whose persistent work helped uncover this human rights abomination. The world is witnessing the slow but steady closure of the loopholes that allowed crypto-enabled exploitation to thrive. #CryptoCrime #FinancialIntegrity #BlockchainForensics #HumanTrafficking #AntiMoneyLaundering #OrganisedCrime #DigitalJustice #LawEnforcement #OFAC #DOJ #ProjectBrazen #CryptoRegulation #FinancialTransparency #AML #HumanRights