# Money Laundering Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Money Laundering", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Korean lawmakers intend to equip the Financial Intelligence Unit (FIU) with its own tools for cryptocurrency oversight

South Korean legislators have introduced a bill aiming to grant the country's Financial Intelligence Unit (FIU) its own investigative powers to directly pursue unregistered crypto asset service providers. Currently, the FIU can identify such operators but relies on police for follow-up investigations, a process deemed slow and inefficient. Between August 2022 and August 2025, police suspended or closed 23 out of 25 cases referred by the FIU, often citing difficulties like operators being based overseas. The proposed amendment would allow the FIU to investigate tips, analyze information, file complaints, and request criminal probes itself. This move is part of broader efforts to tighten crypto regulation, which recently included implementing full "travel rule" requirements and stricter registration processes that have slowed new provider approvals. The FIU reported a significant rise in suspicious transaction reports last year, with about 90% linked to illegal cross-border remittance schemes. The bill has been submitted to a parliamentary committee but must pass further legislative steps to become law.

cryptonews.ru2 days ago 10:16

Korean lawmakers intend to equip the Financial Intelligence Unit (FIU) with its own tools for cryptocurrency oversight

cryptonews.ru2 days ago 10:16

Hong Kong Court Upholds 56-Month Prison Sentence for Fraud Amid Rising Crypto Interest

Hong Kong's Court of Appeal upheld a 56-month prison sentence for a criminal recruiter involved in fraud and money laundering, a case linked to global scam losses estimated by Interpol to reach $442 billion by 2025. Illicit funds are increasingly funneled through crypto exchanges and stablecoins like USDT. In 2025, crypto flows for trafficking-related fraud surged 85%, with stablecoins favored for their value stability and ease of conversion. The defendant, Ma Che-hou, pled guilty to conspiracy for luring victims with fake job offers, leading to their captivity and torture in Southeast Asia. The court treated human trafficking as a major aggravating factor in the fraud sentencing. Global enforcement is scaling up, with the U.S. DOJ seizing $701.9 million in crypto and shutting hundreds of scam sites in 2026. The FATF has also prioritized anti-fraud efforts, citing nearly $500 billion in global losses for 2024-2025, and is developing new policy recommendations. The case underscores the need for stricter crypto transaction monitoring and specialized law enforcement training to trace and seize illicit crypto assets.

cryptonews.ru08/21 11:28

Hong Kong Court Upholds 56-Month Prison Sentence for Fraud Amid Rising Crypto Interest

cryptonews.ru08/21 11:28

Alleged $165M crypto Ponzi mastermind faces US charges after Fiji deportation

Edward Zimbardi, the alleged mastermind behind a $165 million crypto Ponzi scheme, has been deported from Fiji to the U.S. to face federal charges. Prosecutors allege that from June 2022 to August 2023, he promoted "The Crypto Program," promising 25% monthly returns from advertising-package investments. Instead, Zimbardi allegedly used over $34 million for risky forex trades, used new investor funds to pay earlier ones, and spent at least $10 million on personal expenses like a house and luxury cars. He was indicted on multiple counts of wire fraud and money laundering and fled to Fiji upon learning of the FBI investigation.

cointelegraph08/18 13:11

Alleged $165M crypto Ponzi mastermind faces US charges after Fiji deportation

cointelegraph08/18 13:11

Alleged Organizer of $165 Million Crypto Pyramid Scheme to Face Trial in U.S. After Deportation from Fiji

Edward Zimbardi, the alleged organizer of a $165 million cryptocurrency pyramid scheme, has been deported from Fiji to the United States to face federal charges of fraud and money laundering. U.S. prosecutors allege that from June 2022 to August 2023, Zimbardi promoted "The Crypto Program," promising investors a 25% monthly return from advertising packages. Instead of purchasing these packages, he reportedly diverted over $34 million into risky forex trading, used new investor funds to pay earlier ones, and spent at least $10 million on personal expenses, including a house and luxury cars. After learning of an FBI investigation, Zimbardi fled to Fiji, where he remained for over a year before his deportation. He now faces 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit money laundering, and prosecutors are seeking his detention pending trial.

cryptonews.ru08/18 05:16

Alleged Organizer of $165 Million Crypto Pyramid Scheme to Face Trial in U.S. After Deportation from Fiji

cryptonews.ru08/18 05:16

Ireland plans industry standards for illicit crypto use

The Irish government has published its first comprehensive National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy. It outlines new measures to regulate digital assets and crypto-asset service providers to prevent their use for illicit activities. Key proposals include introducing Anti-Money Laundering and Counter-Terrorist Financing obligations for crypto service providers, requiring enhanced checks on transfers to and from private crypto wallets, and stricter due diligence for dealings with overseas crypto firms. The strategy also plans to address industry standards concerning the acceptance of crypto-related funds for gambling. This follows a recent national risk assessment on crypto, with Ireland aiming to implement these industry standards by the second half of 2027. The legislation aligns with the EU's Markets in Crypto Assets (MiCA) regulatory framework.

cointelegraph08/14 21:20

Ireland plans industry standards for illicit crypto use

cointelegraph08/14 21:20

Trump-Backed World Liberty Financial Appoints Former Coinbase Executive as Business Head

Trump-backed crypto firm World Liberty Financial has appointed former Coinbase executive Ryan Ballantine as its Chief Business Officer. Ballantine, a Wall Street veteran with three decades of experience in asset management and digital assets, will focus on revenue, partnerships, and institutional investor relations. This hire comes as the company, linked to the Trump family, expands into tokenized real estate and has applied for a national trust bank charter. The company recently reported a busy first half of 2024, issuing over $310 million in credit via its $WLFI Markets product and hosting an event at Trump's Mar-a-Lago club. However, it faces scrutiny following a New York Times report alleging it received $100 million from a suspect in a British money laundering scheme. The company states it complied with all relevant laws. Meanwhile, its $WLFI token has struggled, trading around $0.0549—an 88% drop from its all-time high. The appointment aims to leverage Ballantine's experience to build sustainable revenue and token stability amidst these challenges.

cryptonews.ru08/13 20:35

Trump-Backed World Liberty Financial Appoints Former Coinbase Executive as Business Head

cryptonews.ru08/13 20:35

British Money Laundering Case: Chinese Tycoon Spends $100 Million on WLFI Tokens, $75 Million Flows into Trump Family Entities

NYT investigation reveals that the biggest single public investment of $100 million into the Trump-linked crypto project World Liberty Financial (WLFI) came from Guren "Bobby" Zhou, a businessman under a UK money laundering probe. The June 2025 purchase, made via the UAE-registered fund Aqua 1, resulted in up to $75 million flowing to the Trump family entity DT Marks DEFI LLC per WLFI's revenue-sharing model. Blockchain analysis traced the $100 million purchase through two wallets linked to Zhou-controlled entities. UK authorities confirmed the ongoing investigation into Zhou as of July 2026; he has not been formally charged. Zhou has a history of failed business ventures, including a bankrupt retail firm and a nearly worthless crypto token. Compliance experts flagged multiple "red flags," including Zhou's background and the transaction's size, noting the heightened scrutiny required for deals involving politically exposed persons like the Trump family. The report follows congressional scrutiny over other major foreign investments into WLFI, including a $500 million commitment from an Abu Dhabi fund. WLFI stated it complies with all laws but did not comment on whether it knew the source of Zhou's funds.

marsbit08/11 03:26

British Money Laundering Case: Chinese Tycoon Spends $100 Million on WLFI Tokens, $75 Million Flows into Trump Family Entities

marsbit08/11 03:26

Media: World Liberty Financial Received $100 Million from Businessman with Questionable Reputation

The cryptocurrency project World Liberty Financial (WLF), affiliated with the family of former U.S. President Donald Trump, received a $100 million investment from businessman Guren "Bobby" Zhou, who is reportedly under investigation in the UK for suspected money laundering, according to The New York Times. Zhou, previously known as a flooring salesman, purchased WLF tokens through his company Aqua 1, becoming one of the project's largest investors. While named in a November 2025 UK court document as a participant in an alleged money-laundering scheme, he has not been criminally charged. It is unclear how thoroughly WLF vetted his background. The investment structure could see up to $75 million distributed to entities controlled by Trump and his three sons. The case highlights concerns about anonymity in crypto transactions, allowing figures with opaque backgrounds to invest substantial sums in politically-linked projects.

cryptonews.ru08/10 11:29

Media: World Liberty Financial Received $100 Million from Businessman with Questionable Reputation

cryptonews.ru08/10 11:29

Billions in USDT Flee Korea. Police Powerless in the Fight Against Money Laundering

South Korea is facing a severe and rapidly escalating challenge with crypto-based money laundering. Police data shows cases surged 152-fold in the first half of 2026 compared to all of 2025, with laundering now constituting 79.4% of all detected crypto-related crimes. The primary method is the "Hwanchigi" scheme, which uses cryptocurrency transfers to move illicit funds overseas, bypassing the regulated banking system. Tether (USDT) is the preferred vehicle for converting proceeds from drug trafficking, illegal gambling, and phishing into dollars before moving them to offshore exchanges. Despite enhanced monitoring and enforcement efforts, a stark gap exists between detection and prosecution. While authorities tracked and blocked millions in illegal assets in high-profile cases, arrests have lagged dramatically. In the first half of 2026, only 18 arrests were made despite over 1,200 detected cases. Customs seized approximately $4.92 billion in illegal foreign exchange operations, with over 90% of crypto-related crimes for prosecution flowing through unlicensed channels. The situation highlights a systemic disconnect: blockchain analytics can track transactions nearly in real-time, but the judicial process moves slowly. This asymmetry raises questions about whether detection statistics alone are a meaningful measure of effectiveness in combating money laundering, as the low cost and high speed of these schemes allow criminal networks to scale faster than law enforcement can respond.

cryptonews.ru08/10 10:26

Billions in USDT Flee Korea. Police Powerless in the Fight Against Money Laundering

cryptonews.ru08/10 10:26

Australia orders Cryptolink Bitcoin ATMs offline over ‘basic reporting’ failures

Australia's financial watchdog AUSTRAC has suspended Cryptolink's Bitcoin ATM network for three months due to compliance failures. The company, which operates 96 ATMs across major cities, did not meet basic anti-money laundering reporting requirements and failed to respond to information requests. This action follows a prior enforcement agreement and a paid infringement notice from late 2025. AUSTRAC cited ongoing concerns about Cryptolink's ability to manage high-risk transactions via its machines. Australia leads the Asia-Pacific region in crypto ATM numbers and has been intensifying scrutiny over their potential criminal use.

cointelegraph08/10 04:44

Australia orders Cryptolink Bitcoin ATMs offline over ‘basic reporting’ failures

cointelegraph08/10 04:44

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