Category Archives: FinCEN

Phishers Target Anti-Money Laundering Officers at U.S. Credit Unions

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A highly targeted, malware-laced phishing campaign landed in the inboxes of multiple credit unions last week. The missives are raising eyebrows because they were sent only to specific anti-money laundering contacts at the credit unions, and many credit union sources say they suspect the non-public data may have been somehow obtained from the National Credit Union Administration (NCUA), an independent federal agency that insures deposits at federally insured credit unions. Continue reading Phishers Target Anti-Money Laundering Officers at U.S. Credit Unions→

Insider Threat: FinCEN Insider Bares Treasury Secrets

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In what can only be described as insider gone sideway, a senior adviser within the U.S. Department of Treasury’s Financial Crimes Enforcement Division (FinCEN), Natalie Mayflower Sours Edwards, shared with media her confidential work and more. Edwards… Continue reading Insider Threat: FinCEN Insider Bares Treasury Secrets→

FinCEN fines BTC-e $110 million for violating anti-money laundering laws

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One of the largest digital currency traders in the world has been assessed a $110 million dollar civil money penalty by the Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney’s Office of the Northern District of California. BTC-e, or Canton Business Corporation (BTC-e), was the target of the Treasury’s first action against a foreign-located money services business for knowingly violating U.S. anti-money laundering (AML) laws, and was hit with a $110,003,314 penalty. The company was also complicit in their facilitation of digital transactions involving “ransomware, computer hacking, identity theft, tax refund fraud schemes, public corruption, and drug trafficking,” according to an official statement. BTC-e is an online, foreign-based money transmitter that takes fiat currency and virtually all popular cryptocurrencies, including Bitcoin, Litecoin, Namecoin, Novacoin, Peercoin, Ethereum, and Dash. The company processed over $300,000 in bitcoin stolen from Mt. Gox, one of the world’s largest bitcoin exchanges, from 2011 to […]

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