Billions of dollars stolen in sophisticated online scams known as “pig butchering” are moving through some of America’s most reputable financial institutions, according to a recent ProPublica investigation. Banks like Chase, Bank of America, Citibank, HSBC, and Wells Fargo have become critical waypoints for Asian crime syndicates laundering the proceeds of these elaborate schemes, which…
Hong Kong, June 12— In a bold move to combat rising financial crime in the digital age, Hong Kong Customs is collaborating with the University of Hong Kong (HKU) to develop a cutting-edge tool capable of tracing cryptocurrency transactions. The partnership aims to bolster the city’s defences against money laundering schemes that have increasingly exploited…
A massive Australian money laundering network that allegedly funnelled AUD$190 million in criminal proceeds through cryptocurrency and luxury assets has been dismantled by the Australian Federal Police (AFP) in a sweeping, multi-agency crackdown. Four individuals have been charged following an 18-month investigation into a Gold Coast-based security company that authorities say was at the heart…
German authorities dismantled one of the most infamous dark web cryptocurrency laundering systems, eXch, which served as a global hub for cleaning digital assets. Criminals moved an estimated $1.9 billion before the system came crashing down. Also, the bust marks Germany’s third-largest cryptocurrency seizure, confiscating €34 million alongside eight terabytes worth of forensic data. This…
