May 2021 4th Edition

Featured Articles

World’s largest crypto exchange under federal investigation

Following allegations surrounding money laundering and tax violations, Binance Holdings Ltd., is facing a federal investigation by the Internal Revenue Service and the U.S Department of Justice. According to Bloomberg, government officials have been seeking information from people who have insight into Binance’s business dealings and exploring possible money-laundering and tax-related offenses by both the exchange’s staff and customers. The investigation comes after a report by Chainalysis, a blockchain forensic firm, traced $2.8 billion worth of illicit bitcoin on exchange and

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New Zealand central bank has failed on AML/CFT supervision, says FATF

The international anti-money laundering standard setter has criticised the Reserve Bank of New Zealand (RBNZ) for failing to supervise the banking sector adequately, despite an overwhelmingly positive national review. The Financial Action Task Force’s (FATF) latest mutual evaluation report revealed the central bank has just five full-time staff dedicated to

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