ChainCatcher news, the Nigerian government has filed criminal charges against four individuals and multiple companies, accusing them of illegally conducting cryptocurrency transactions without holding a banking license, including exchanging USDT for Naira.The four defendants are Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley, and Chukwuebuka F. Ogumba. They are charged with violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.This case stems from an investigation by the Economic and Financial Crimes Commission (EFCC) into alleged manipulation of the Naira exchange rate and money laundering through virtual cryptocurrency trading platforms.Previous news, the Economic and Financial Crimes Commission (EFCC) has obtained court approval to freeze over $330,000 (5.486 billion Naira) of suspicious funds deposited in cryptocurrency users' bank accounts.

ChainCatcher news, the Brazilian Federal Police recently launched "Operation Nifheim," successfully dismantling three criminal organizations that used cryptocurrency for money laundering. The operation took place in Caxias do Sul, São Paulo, Fortaleza, and Brasília, resulting in the issuance of 8 arrest warrants and 19 search and seizure warrants.Since 2021, the involved gangs have laundered over $9.7 billion through cryptocurrency, with funds primarily sourced from drug trafficking and smuggling. The Brazilian Federal Court has frozen $1.58 billion in assets and seized multiple vehicles and real estate. Police revealed that these gangs used shell companies to conceal the source of funds, which were subsequently transferred to locations such as the United States, the UAE, Hong Kong, and China.

ChainCatcher news, the Singapore Parliament has passed the amendment to the Casino Control Act, aimed at further enhancing the effectiveness of the country's casino regulatory system and its protection for vulnerable groups. The government will empower the Gambling Regulatory Authority (GRA) with more authority to oversee more forms of gambling activities within casinos, including betting and lotteries.The amendment covers digital currencies, with cryptocurrencies not being permitted by the GRA to be used as casino chips, primarily due to the risk of money laundering.

ChainCatcher news, the Beijing Municipal Public Security Bureau has dismantled an underground money laundering gang that conducted money laundering crimes through virtual currency transactions. Currently, four main suspects involved in the case have been approved for arrest by the procuratorial authorities on suspicion of illegal business operations.According to investigations, the main member of the gang, Lv, obtained foreign nationality years ago. During his time abroad, he discovered that virtual currency transactions could transfer domestic RMB to overseas and exchange it for foreign currency. Later, Lv, along with Chen and others, used virtual currency trading platforms to assist domestic individuals intending to transfer funds in purchasing virtual currencies on a large scale, thereby transferring funds overseas, with the amount involved being approximately 800 million yuan. At the same time, the police found that this gang had provided funding channels and transferred illicit funds for multiple telecom fraud cases and embezzlement cases.

ChainCatcher news, according to monitoring by Shield, an address marked as an attacker of the WazirX exchange has laundered 2100 ETH through the privacy mixing protocol Tornado Cash.

ChainCatcher news, eight members of a criminal gang involved in a Chinese phone scam in South Korea were arrested by the police for assisting in converting criminal proceeds into cryptocurrency. The police pointed out that the gang used fake bank accounts for money laundering, converting 280 million won (approximately 208,000 USD) defrauded from six victims into cryptocurrency, which was then handed over to a Chinese organization, earning a commission of 10% to 40%.It is reported that to avoid police investigation, the members of the organization only communicated through Telegram.

ChainCatcher news, the Public Security Bureau of Wuhua County, Anhui Province, made precise judgments and took swift actions, successfully cutting off a chain that used virtual currency trading platforms as a cover while actually engaging in money laundering activities through score running. Three suspects have been brought to justice. This score running gang took advantage of the public's vague understanding of virtual currency investment, using virtual currency trading platforms as a cover to seemingly engage in legitimate investment speculation while actually participating in illegal score running and money laundering activities. The amount involved in this gang reached tens of millions, posing an immeasurable threat to financial order and social security.The score running gang manipulated highly concealed score running software, utilizing bank accounts or third-party payment platforms, and through fictitious transactions and dispersed transfers, "laundered" the illegally obtained funds, making them appear as legitimate income. Currently, the three suspects have been subjected to compulsory measures in accordance with the law.

ChainCatcher news, the Federal Reserve issued a cease-and-desist order to the crypto-friendly bank United Texas Bank on Wednesday, citing "significant deficiencies" in the bank's compliance with anti-money laundering laws related to transactions with cryptocurrency clients, as well as other alleged illegal activities.The bank's latest quarterly report shows that it has 75 employees and manages assets of approximately $1 billion. Niko Demchuk, the legal chief of the crypto compliance firm AMLBot, told Decrypt that the impact of such cease-and-desist orders extends far beyond the recipient and its clients. He noted, "Every cease-and-desist order plays an important role in the market. Other banks will strive to gain more insights into which specific areas are not in compliance with current AML regulations to improve their own internal AML processes." Demchuk added that mentions of crypto assets will alert other banks dealing with crypto assets to review their risk management systems to ensure that all risks are considered and mitigated.

ChainCatcher News, the U.S. Department of Justice (DOJ) recently announced that Geoffrey K. Auyeung, a resident of Newcastle, Washington, has been charged in connection with an alleged cryptocurrency money laundering scheme, facing "conspiracy to commit money laundering and nine counts of money laundering through concealment or expenditure."The DOJ stated that Auyeung, who was arrested on August 12, posed as a custodial agent for oil and gas investments to defraud investors, subsequently transferring client funds to accounts under his control. "Once the funds entered accounts controlled by Auyeung, the money would quickly be transferred to other accounts, moved overseas, or used to purchase cryptocurrencies such as BTC, USDT, USDC, and ETH through cryptocurrency exchanges like Gemini, Bitstamp, and Coinbase." Investigators from the Homeland Security Investigations (HSI) have traced $64 million flowing into 74 different bank accounts linked to Auyeung. The indictment seeks the forfeiture of approximately $2.3 million seized from Auyeung's bank accounts. "Millions converted into cryptocurrency from telecom fraud proceeds have been frozen and are awaiting seizure. HSI has identified 22 victims with total losses of $7.7 million. However, law enforcement believes there may be more victims," the DOJ noted.

ChainCatcher news: Ms. Zhang from Tianjin was scammed out of over 260,000 yuan this month, with the fraudulently obtained money withdrawn in Xingguo County. The Xingguo police acted quickly, arresting 8 criminal suspects and dismantling a virtual currency money laundering "water room" operation, seizing 200,000 yuan in related funds.It is reported that the suspect Li Mouyuan provided bank accounts to the money laundering gang to assist in their laundering activities and withdrew over 260,000 yuan while knowing that the funds were involved in online illegal activities. After receiving the cash withdrawn by Li Mouyuan, the money laundering gang fled back to Yuzhou, Henan, and handed the involved funds to the virtual currency money laundering "water room" suspect Hou Moupeng. Hou Moupeng then exchanged the over 260,000 yuan in cash obtained from the fraud into virtual currency U offline, transferring it to a designated virtual currency address, ultimately achieving the laundering and whitening of the involved funds.The police successfully dismantled the money laundering den, arrested multiple suspects, and recovered part of the involved funds.

ChainCatcher news, according to a report by Coindesk, the latest report from blockchain analytics firm TRM Labs shows that since 2019, the cash-to-crypto industry, primarily driven by cryptocurrency ATMs, has processed at least $160 million in illegal transactions.In 2023, illegal transfers to known scam addresses through cash-to-crypto services reached as high as $30 million, accounting for 79%.The report points out that global law enforcement agencies are increasingly concerned about the growth of cryptocurrency ATM usage. Recently, Germany's financial regulator BaFin shut down 13 cryptocurrency ATMs and seized approximately $280,000 in cash. Similar actions have been taken in countries like the UK and the US.TRM Labs emphasizes that cryptocurrency ATMs face additional money laundering risks due to their use of cash and the lack of face-to-face interaction or account controls. Notably, in 2023, 13% of digital asset fraud cases involving individuals over 60 were related to Bitcoin ATMs.Although the US has shut down over 1,000 machines since May, it still has the most cryptocurrency ATMs in the world, with over 31,000. The number of cryptocurrency ATMs in Australia has increased 17-fold in two years, potentially making it the third-largest market globally.

ChainCatcher news, the UK police have released the country's first cryptocurrency ATM indictment after accusing a resident of operating an illegal cryptocurrency ATM and laundering £300,000 ($395,000).The UK's Financial Conduct Authority (FCA) issued a cryptocurrency ATM ban in 2022, warning machine operators that they must be registered with the FCA. Subsequently, the regulator launched a crackdown on unregistered cryptocurrency ATMs.The FCA emphasized in the indictment: "There are currently no cryptocurrency ATMs registered with the FCA, so if you use one of these machines, you may be handing your money over to criminals."

ChainCatcher news, according to East Net reports, Hong Kong law enforcement agencies launched anti-money laundering operations codenamed "Micro Song," "Black Brain," and "Ghost Hero" this month based on tips and analysis, dismantling three money laundering groups and arresting 27 people, with a total amount involved exceeding 300 million Hong Kong dollars.Investigating officers stated that in March this year, Hong Kong law enforcement received a request for investigation from Singapore authorities, indicating that over 30 fraud cases had occurred locally, with approximately 30 million dollars in fraudulent funds flowing into puppet accounts in Hong Kong after multiple transfers. The investigating officers pointed out that a certain group used a large number of accounts for transfers and repeatedly withdrew cash to purchase virtual currency on local virtual asset trading platforms to evade detection. The Hong Kong police also disclosed data showing that in the first half of this year, law enforcement agencies arrested 5,693 people for money laundering-related crimes, a 40% increase compared to the same period last year; among them, 4,465 were puppet account holders, accounting for 78% of those arrested.

ChainCatcher message, He Yi responded to the incident of restricting user accounts in the Palestinian region on X. He stated: "Only a few user accounts related to illegal funds have been banned from trading.As a global cryptocurrency trading platform, Binance, like other financial institutions, complies with internationally recognized anti-money laundering regulations. Binance will continue to educate users on how to trade safely and securely on the Binance platform.Most importantly, Binance hopes for lasting peace throughout the region."

ChainCatcher news reports that the Public Security Bureau of Lengshuijiang has cracked a case of organized and premeditated impersonation of "telecom fraud victims." They exploited the victims' fear of reporting to the police to engage in a black-on-black robbery scheme, repeatedly committing theft in a virtual currency "case within a case," recovering over one million yuan.According to confessions, the suspects learned that many virtual currency merchants were involved in laundering money for fraudsters. They believed that this group would not dare to alert the police if something went wrong, so they devised a risky plan to "earn quick money" by setting a trap to "eat" the virtual currency from the merchants. The female members of the gang typically pretended to be victims of fraud to gain the trust of the virtual currency merchants and complete transactions on the spot, while others posed as family members of the victims, rushing into the transaction site to intimidate and threaten once the virtual currency was received. Each member had clear roles and responsibilities, all waiting for the opportunity to seize the virtual currency.Upon investigation, it was found that the gang exchanged the stolen virtual currency for RMB to dispose of the loot, involving a significant amount of money. The Public Security Bureau of Lengshuijiang has arrested several suspects involved in robbery and illegal operation of virtual currency merchants, seizing over one million yuan in funds. The case is currently under further investigation.

ChainCatcher news, according to Reuters, a Nigerian judge will expedite the hearing of a money laundering case involving Binance and its two executives next week. The hearing originally scheduled for October 11 is now set for September 2. The wife of Binance executive Tigan Gambaryan, who has been detained, stated earlier this month that Tigan Gambaryan has been held in Nigeria since February, and his health has deteriorated in prison.

ChainCatcher message, the Hong Kong Securities and Futures Commission has issued a circular to licensed corporations, virtual asset service providers, and associated entities regarding the fight against money laundering/terrorist financing, which points out that the United Nations Security Council (UNSC) committee responsible for managing the sanctions regime against the Islamic State (ISIS) and Al-Qaeda removed an individual from its sanctions list on August 23, 2024 (New York time).Licensed corporations, licensed virtual asset service providers, and associated entities should update their screening databases regarding the aforementioned changes made by the UNSC sanctions committee to conduct sanctions screening on customers and payments.

ChainCatcher news, according to a report from the People's Political Consultative Conference website, China News Service disclosed through Taiwanese media that a couple with the surname Li in Taichung is suspected of laundering money for multiple gambling groups, with the amount involved exceeding 1.6 billion New Taiwan dollars. The entire case has recently been prosecuted for money laundering and other crimes.Last September, the police uncovered a gambling operation disguised as an advertising company. An analysis of the seized evidence revealed that a 30-year-old man with the surname Li and his wife are suspected of laundering money for about seven gambling groups. Over the course of more than a year, the money laundering operation, under the guise of "high salary, easy work, no experience required," recruited members around the age of 20 and dispersed them to hide. They communicated daily through messaging apps to launder money, creating investigative breakpoints, and used virtual currency to quickly transfer illegal profits.The police revealed that they have currently transferred Li and others to the Taichung District Prosecutor's Office for investigation based on violations of the "Organized Crime Prevention Act" and gambling-related crimes, and have seized properties, including houses owned by the Li couple, totaling over 73.2 million New Taiwan dollars in illegal profits.