South Korea has announced major anti-money laundering penalties on crypto exchange Bithumb as the country continues a crackdown on defaulters. Bithumb underwent its Financial Intelligence Unit (FIU) inspection in March 2025 and has now been found culpable by the authorities. According to reports from local media, the crypto exchange has now been fined heavily for violating domestic regulations. In its statement, the FIU claimed that it discovered several compliance failures a

Cambodia says it has extradited to China a billionaire businessman accused of masterminding a vast cryptocurrency scam in which trafficked workers were lured to forced labour camps to defraud victims globally. Chen Zhi was among three Chinese nationals arrested on 6 January after a joint investigation into transnational crime lasting several months, Cambodia said. The US charged the 37-year-old last October with running internet scams from Cambodia that it said had stolen bil

A professional money launderer whose criminal enterprise generated more than $120 million for customers must forfeit half a million to the Crown. Musabayoufu Fuati and his co-offender, Daniel Hu, both served sentences of home detention for their crimes, which included laundering money for drug dealers, smugglers and fraudsters. The pair used false identities and a network of disposable “money mules” to make $123 million in cash deposits over three years for their foreign exch

The FCA has fined 2 former finance directors for their part in misleading statements being issued by Carillion plc. Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed to reflect this in company announcements or alert the Board and audit committee, leading to poor oversight. Mr Adam and Mr Khan have been fined £232,800 and £138,900, respectively. The fines were imposed after Mr Adam and Mr Khan withdrew

We want a market where innovation can thrive, but where people understand the risks. Regulation cannot – and should not – remove all risk. Instead, it should make sure anyone investing in crypto does so with their eyes open. Our proposals apply a similar approach to crypto as we do in traditional finance: clear information for consumers, proportionate requirements for firms, and flexibility to support innovation. What we’re consulting on Admissions and disclosures – Rules for

The NCA have identified that a billion-dollar money laundering network active in the UK purchased a bank in Kyrgyzstan to facilitate sanctions evasion and payments in support of Russian military efforts. Through Operation Destabilise, the NCA and its partners are targeting money launderers who work for this network and are known to operate in at least 28 UK cities and towns. For a fee, the launderers collect ‘dirty’ cash generated from the drugs trade, firearms supply, and or

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Department of Justice Files Largest Ever Forfeiture Action Against Approximately $15 Billion in Bitcoin Currently in U.S. Custody BROOKLYN, NY - An indictment was unsealed today in federal court in Brooklyn charging Chen Zhi, also known as “Vincent,” the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money laundering conspiracy for directing Prince Group’s operation of forced