What Is the Wash Wash Scam? The wash wash scam is a scheme commonly used by scammers who fleece victims by promising them large sums of money in exchange for literally cleaning dirty money. Victims are given fake banknotes that are passed off as being real by being dyed. The fraudster pr...
All Investors Must Comply With AML/KYC:The cryptocurrency community is full of privacy-obsessed individuals, so going through the AML/KYC procedure may be a big no-no for some. Market Manipulation and Concentration of Coins:Most IEO tokens are minted beforehand, so you should always double-check...
said Kladko, “while there is no single individual in charge of anti-money laundering at the BCSC, many different staff contribute to AML efforts as part of their duties. If we encounter signs of such activity in the course of enforcing the Securities Act, we refer it to the appropriate a...
On December 3, 2020, the Commodity Futures Trading Commission (“CFTC” or the “Commission”) Division of Enforcement (the “Division”) announced a settlement with Vitol Inc. (“Vitol”), an energy and commodities trading firm in Houston, Texas. This is the first public action coming out...
NFTs:Non-Fungible Tokensare used for “wash trading,” where an individual creates multiple wallets to artificially inflate the value of an NFT before selling it to an unsuspecting buyer. NFT trades are relatively anonymous in nature. Cryptocurrency Mixers:Cryptocurrency mixersblend the cryptocurrencies...