Financial Crimes Enforcement Network proposing regulations for real estate transactions to combat money laundering and violations will fall under the new FINCEN whistleblower program

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) plans to issue the proposed rules for real estate transactions, including requiring Suspicious Activity Reports similar to those required for banks and other financial institutions. FinCEN administers the US anti-money laundering requirements under the Bank Secrecy Act (BSA), which, among other things, requires...
Continue reading…

Justice Department investigating surveillance of American journalists by TikTok’s Chinese owners

The Justice Department is investigating the surveillance of U.S. journalists by TikTok's Chinese owners, according to reports in the Wall Street Journal. The investigation started when he Beijing-based ByteDance Ltd. in December acknowledged that its employees misused their authority to access the data of journalists in an effort to identify leaks of...
Continue reading…

U.S. prosecutors and European authorities shut down cryptocurrency platform ChipMixer charging it laundered more than $3 Billion for cybercriminals including $700 million stolen by North Korean hackers

U.S. and European authorities have shut down cryptocurrency platform ChipMixer and charged its alleged operator, accusing it of laundering more than $3 billion of criminal proceeds, including $700 million allegedly stolen by North Korean hackers. They assert that ChipMixer was a sought-after platform for laundering illicit funds gained from ransomware attacks. crypto heists...
Continue reading…

Securities and Exchange Commission charges exiled Chinese businessman Miles Guo and financier William Je in $850 million fraud scheme

Chinese businessman Miles Guo and his financial advisor William Je have been charged by the Securities and Exchange Commission for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, https://www.sec.gov/litigation/complaints/2023/comp-pr2023-50.pdf since April 2020, Guo, also known as Ho...
Continue reading…