laundering

Treasury Dept. blacklists crypto platform used in money laundering.

The Treasury Department on Monday prohibited Americans from using the cryptocurrency platform Tornado Cash, saying the service has helped criminals launder more than $7 billion of virtual currencies. The crackdown was the U.S. government’s latest effort to rein in the crypto industry, as lawmakers and regulators grow increasingly concerned over the volatility of virtual currencies …

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Crypto mixing service Tornado Cash blacklisted by Treasury Department for alleged use in laundering

The U.S. Department of Treasury on Monday sanctioned the popular cryptocurrency mixer Tornado Cash, banning Americans from using a service that the government said, “launders the proceeds of cybercrimes.” “Despite public assurances otherwise, Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a …

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Pair of New Hampshire residents indicted in multi-million dollar money laundering ring

Two Windham residents are facing a number of charges for their alleged involvement in a multi-million dollar money laundering ring.The Department of Justice says Windham residents Shi Rong Zhang, 48, and Qiu Fang Zheng, 59, were part of a large scale operation that laundered tens of millions of dollars worth of drug trafficking proceeds at …

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