U.S. probes Citi over compliance with money laundering laws (Reuters) – A federal grand jury is probing Citigroup Inc, including its Banamex USA affiliate, over compliance with the U.S. Bank Secrecy Act and regulations on money laundering, the company said. In an annual filing on Monday with the U.S. Securities and Exchange Commission, the company…
Canada’s FINTRAC Imposes Fine on Questrade for Serious AML Breaches Canada’s financial watchdog that supervises money laundering and terrorist financing has issued details of violations committed by a Canadian regulated broker dealer. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a government organization that reports to Canada’s ministry of finance, has found Questrade, a…
Bitcoin Enables Drug Dealing, Just as Major Banks Do Last week Charlie Shrem, the 24-year-old founder and chief executive of a leading Bitcoin payments company, was arrested at New York’s John F. Kennedy Airport after getting off a plane from Amsterdam. Shrem, along with a Florida man named Robert Faiella, was charged with conspiracy to…
The coin prince: inside Bitcoin’s first big money-laundering scandal What last week’s arrest of Charlie Shrem means for the virtual currency A week ago, 24-year-old Charlie Shrem landed at JFK, home from giving a talk about the virtual currency Bitcoin at an e-commerce convention in Amsterdam. The trip had gone well. Shrem’s speech made the front…
Top Bitcoin executives charged with money laundering in US Two Bitcoin executives have been charged in the US with conspiring to commit money laundering by selling more than USD one million of the digital currency to users of an illicit online drugs bazaar ‘Silk Road’. India-born US Attorney Preet Bharara brought the criminal charges in…