Articles for tag: Binance, Cryptocurrency, cryptocurrency regulations, financial crime, IRS, tax compliance, tax evasion

December 18, 2024

IRS Criminal Investigation Reports: Understanding Their Billion Dollar Impact on Financial Crimes | Allen Barron, Inc.

The IRS Criminal Investigation division released its Fiscal Year 2024 report, highlighting recent efforts against tax evasion and financial crimes, especially in the cryptocurrency sector. Among significant developments, a U.S. taxpayer has pleaded guilty to tax evasion linked to cryptocurrency, and Binance Holdings settled a major case for $4 billion. The IRS has also initiated ...

December 16, 2024

Market News

Crypto

Australia’s Crackdown on Crypto-Driven Money Laundering: What You Need to Know

AUSTRAC, Australia’s financial watchdog, has launched a task force focused on monitoring cryptocurrency ATM providers to ensure compliance with anti-money laundering laws. With an increase in scams and money laundering linked to crypto, AUSTRAC aims to enforce strict measures for the 1,200 operating crypto ATMs, making sure these machines are not used for illegal activities. ...

December 5, 2024

Market News

Crypto

Russian Crypto Criminals Aid UK Drug Gangs in Laundering Lockdown Cash Amid Rising Crime Trends in Cryptocurrency.

The National Crime Agency (NCA) has uncovered a significant money laundering operation linked to UK drug gangs during the pandemic. This complex scheme involved a Russian-speaking network based in Moscow that exchanged dirty cash for untraceable cryptocurrency. They facilitated the laundering of drug profits while also supporting Russian state espionage efforts. The operation has resulted ...