By Adrianne Appel2024-09-27T13:36:00
U.S. and European law enforcement agencies have announced sanctions against two Russia-linked cryptocurrency platforms in their ongoing chase to snuff out Russian-linked financial platforms that assist cybercriminals.
Cybercrime platforms, like PM2BTC, which was the target of an order by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) Wednesday, and Cryptex, sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC), are a threat to national and international security, by allowing criminals to launder ransomware proceeds from hacks of U.S. businesses and institutions, the agencies said.
Both platforms are tied to Sergey Sergeevich Ivanov, a Russian citizen sanctioned by OFAC who for 20 years has allegedly laundered hundreds of millions of dollars in virtual currency resulting from cyberattacks and darknet transactions, including those linked to Genesis Market.
2025-01-29T15:11:00Z By Aaron Nicodemus
The Seychelles-based owner of cryptocurrency exchange KuCoin has agreed to pay nearly $300 million in penalties–and cease doing business in the U.S. for two years–to settle charges that it failed to properly monitor potential criminal activity on its network.
2024-12-30T15:50:00Z By Adrianne Appel
An alleged software mastermind of the notorious LockBit ransomware group will soon be extradited to the United States to stand trial on charges that his criminal enterprise extorted at least half a billion dollars from victims worldwide, including U.S. businesses and hospitals, the Department of Justice said.
2024-12-23T11:00:00Z By Adrianne Appel
JPMorgan Chase, Wells Fargo Bank, Bank of America, and the company behind online money transfer app Zelle were sued by the Consumer Financial Protection Bureau for allegedly failing to safeguard Zelle’s network and causing customers to lose $870 million, the CFPB alleged.
2025-10-21T18:11:00Z By Adrianne Appel
Eight auto insurers failed to meet the requirements of New York’s cybersecurity regulations during widespread online attacks in 2021 and will pay $19 million under consent orders with the New York State Department of Financial Services (NYDFS).
2025-10-21T17:13:00Z By Oscar Gonzalez
Canada is creating a new federal office to lead efforts against financial crime. The initiative marks the government’s most significant move yet to modernize its approach to fraud and money laundering.
2025-10-20T18:07:00Z By Adrianne Appel
Three executives of a multinational voting machine company in the crosshairs of President Donald Trump since 2020 have been indicted in Florida by the U.S. Department of Justice for allegedly paying $1 million in bribes to the Philippines top election official.
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