In a landmark decision, Wise, a global leader in fintech, has instituted rigorous anti-money laundering (AML) controls following a stringent review by the Belgian National Bank. This regulatory oversight highlighted significant deficiencies in Wise’s customer verification processes, particularly regarding proof of address. The implications of this review extend beyond compliance; they signal a crucial pivot […]
The Dark Side of Crypto: Fraud and Money Laundering
Cryptocurrencies have revolutionized the way we view and conduct financial transactions. While their potential for innovation and efficiency is significant, the industry does not come without its drawbacks. The dark side of crypto, particularly regarding fraud and money laundering, poses serious challenges and risks for both users and regulatory bodies. In 2023, illicit transactions involving […]
Tether CEO Denies Signs of US Investigation
In a recent statement, Paolo Ardoino, the CEO of Tether, firmly denied any indications that the company is under investigation by U.S. authorities. His remarks came shortly after a Wall Street Journal article suggested that federal investigators are scrutinizing Tether for potential violations related to sanctions and money laundering. According to the report, the U.S. […]