🔍 Why check cryptocurrency for purity?

🌑 Average users, like you and me, sometimes don't even realize that funds received from exchangers or other users may have a dark origin.

💰 In the last 6 years, known crypto addresses linked to illicit activities have processed around $60 billion. These funds were "laundered" through exchanges, mixers, and ordinary users' accounts.

🔒 If you accept "dirty" funds into your wallet and transfer even a small portion of them to an exchange, your wallet may be seized or blocked. Such sanctions regarding these funds may occur not immediately, but six months later, when someone within the framework of a case initiates a criminal investigation and the police reach you through the chain. And you may have nothing to do with it, but your funds will be blocked or seized. ❌

🔍 Therefore, it is critical to know the history of the origin of the funds in your cryptocurrency wallet, as well as to check the crypto wallets of counterparties and incoming transactions.

#CryptocurrencyLaunch #DirtyCrypto #moneylaundering #CryptoSecurity #aml

SPB Exchange plans to participate in the EPR for conducting cryptocurrency trading.

Last year, the Central Bank included it in the register of information platform operators for issuing digital financial assets (DFA).

Due to the introduction of the concept of foreign digital rights in the newly adopted mining law, which can be applied to most cryptocurrencies, and due to the previously adopted law on international settlements using DFA, it can be said that settlements using cryptocurrency will be organized through information system operators (organizations authorized to issue DFA), according to Denis Polyakov, GMT Legal.

#ONLY_BANK #TradingShot #aml #bank #Russia

Singapore tightens grip on crypto! DPT services face stricter AML/CFT rules to combat terror financing risks linked to anonymity. This reflects a global trend of regulating crypto for innovation and security.

#Singapore #crypto #aml #DPT #IntroToCopytrading

💼 #aml #Checks

🔒 AML checks allow companies to minimize the risks of involvement in financial #crime , ultimately protecting against lock-in and loss of assets.

🤔 What AML verification methods are available, and who are they suitable for?

- ⚙️ Automated AML Checks: Automated pre-checking of all incoming assets is done through #API integration. This method is suitable for companies with high transaction volumes.

- 📱 Manual AML Checks: Manual checks are performed via a Telegram bot. This method is suitable for regular users who want to verify incoming transactions to avoid receiving "dirty" cryptocurrency and the subsequent blocking of their funds.

- 🕵️‍♂️ AML Officer: An AML officer is a specialist who takes a comprehensive approach to protecting a company from potential blocking and loss of assets. In addition to screening transactions for AML/CFT, they also check counterparties (both legal entities and individuals). This method is suitable for companies that do not make many transfers but handle large amounts of money.

🚨 The Most Ridiculous Crypto Fraudsters: How They Stole $5 Billion and How They Got Caught

🚔 In 2022, US law enforcement agencies detained Ilya Lichtenstein and his wife Heather Morgan, accusing them of laundering cryptocurrency stolen from the Bitfinex exchange in 2016. More than 119,000 bitcoins were stolen at that time. The FBI confiscated 94,000 bitcoins from the couple, the value of which at the time of the theft was $70 million, but now exceeds $7 billion!

🔍 Lichtenstein was linked to data on the movement of funds, as well as his activity on exchanges under fictitious names. The couple spent money on purchases at Walmart, rides with Uber, and PlayStation games. The FBI tracked them down when Lichtenstein uploaded data containing his wallet address to the cloud.

#CryptoDecision #CryptocurrencyTravel #match_systems #aml

What is AML?

Investing in cryptocurrency carries a degree of risk that many investors find unappealing, primarily due to the lack of regulation in this emerging asset class. Legislators are currently working on regulating cryptocurrencies, but they have already attracted the attention of criminals looking for ways to conceal their profits. There are programs capable of continuous monitoring to detect changes in a client's risk profile.
Anti-money laundering (AML) regulations, particularly in DeFi, require innovative approaches from governments that align with the core principles of cryptocurrency. Current regulatory models are based on assumptions and principles that are often inapplicable to cryptocurrencies. While regulators may implement some aspects of these models, they generally recognize the need for new frameworks.
Money laundering is the process of concealing illegal earnings. Individuals and businesses must launder money to convert illicit gains into legitimate income. This involves making the funds appear as though they come from a legal source to pay taxes on them. Money laundering occurs in three stages: placement, layering, and integration.
The placement stage involves transferring "dirty" money into a legitimate repository, such as a financial institution or cryptocurrency exchange.
Layering refers to the process of mixing illegal funds with legitimate ones, making it harder for authorities to trace and identify the original source of the income.
In the integration stage, the laundered money is credited to the beneficiary in such a way that its true source is concealed. Cryptocurrencies are particularly well-suited for money-laundering schemes due to their operation in decentralized networks, making it extremely difficult to track the funds. This is especially true when the funds move across multiple geographic regions. #aml