FinCEN | ForkLog

ForkLog 48 02.05.2025

US Moves to Disconnect Fraudulent Huione Platform from Banking System

FinCEN has proposed disconnecting the Cambodia-based platform Huione Group from the American financial system. The regulator accused the company of laundering $4 billion, including funds linked to the North Korean hacker group Lazarus. According to the statement, Huione Group and its subsidiaries will lose access to correspondent accounts in the US. This will hinder the […]

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ForkLog 5 15.10.2024

FinCEN Fines TD Bank $1 Billion for Facilitating Cryptocurrency Money Laundering

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department found that TD Bank failed to report suspicious cryptocurrency-related activities amounting to nearly $1 billion. According to the agency, over nine months, the bank processed transactions for a company identified in the plea agreement as Customer Group C. When opening the account, the firm […]

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ForkLog 11 14.03.2024

US Investigates $165 Million in Crypto Transactions Linked to Hamas

FinCEN is investigating cryptocurrency transactions amounting to $165 million, reported by American financial institutions, which are allegedly linked to Hamas. This was reported by WSJ. In a report to Congress, the agency noted that it is examining suspicious activity reports from the past three years to identify instances of support for militants prior to their […]

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ForkLog 11 14.02.2024

FinCEN Reports Rise in Bitcoin Use for Human Trafficking

The United States Financial Crimes Enforcement Network (FinCEN) has released a report indicating an increase in the use of cryptocurrencies in global crimes related to human trafficking and child sexual exploitation during 2020-2021. The agency’s analysis referenced data from financial companies. During the specified period, they collectively recorded 2311 instances of transactions for these illegal […]

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ForkLog 8 14.11.2023

Swan Bitcoin bans crypto mixers as privacy battle looms

The California-based Bitcoin platform Swan Bitcoin warned users by email of an indefinite ban on direct use of crypto mixers.

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ForkLog 6 19.01.2023

Binance, Hydra and Finiko named leading counterparties in Bitzlato case

Binance, Hydra and the Finiko pyramid were among the top three counterparties receiving funds on the Bitzlato exchange, which U.S. authorities accuse of laundering $700 million.

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ForkLog 14 11.10.2022

Bitcoin exchange Bittrex fined $29 million

OFAC and FinCEN fined the cryptocurrency exchange Bittrex $29 million.

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ForkLog 14 30.01.2022

US Treasury to revisit proposal for verifying users of non-custodial cryptocurrency wallets

In 2022, the U.S. Department of the Treasury will revisit the controversial FinCEN proposal, which envisages mandatory verification of users of non-custodial cryptocurrency wallets.

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ForkLog 14 30.11.2021

US Treasury: FATF rules align with FinCEN standards on cryptocurrency regulation

US Treasury Secretary Janet Yellen said FATF rules align with FinCEN's standards regarding the crypto industry and are merely guidance.

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ForkLog 8 09.11.2021

FinCEN issues updated guidance on ransomware

The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Department of the Treasury, has issued an updated version of guidance aimed at countering ransomware.

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ForkLog 15 17.10.2021

FinCEN reports a rise in ransomware activity notices in 2021

In the first six months of 2021, exchanges and other institutions submitted to FinCEN 635 suspicious-activity reports related to ransom payments to ransomware operators. They contained information on transactions totaling $590 million, higher than for all of 2020.

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ForkLog 9 11.08.2021

BitMEX to pay $100m to settle US regulators’ claims

The BitMEX cryptocurrency derivatives exchange settled a civil dispute with the U.S. CFTC and FinCEN and agreed to pay a $100 million fine.

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