Nordea Bank Accused of Money Laundering After It Banned ‘the Risky’ Bitcoin

In January this year, Nordea bank banned its 31,000 employees from buying Bitcoin and other cryptos. The bank, which is the largest in the Nordic region, termed Bitcoin as too risky and as having the potential to be used in crime. Nine months later, the bank has been implicated in an alleged money laundering scandal. According to a report by Finnish state-owned YLE publication, the bank has been accused of receiving dirty money from two banks in the Baltic States. This is just after another anti-bitcoin bank, Danske, was nabbed with similar accusations.

Alleged Bitcoin Launderer and BTC-E Admin Likely to Stand Trial in U.S.

Alleged bitcoin launderer and BTC-e administrator Alexander Vinnik is likely to stand trial in the U.

China’s Central Bank Believes Bitcoin will be Dead in a River

A People’s Bank of China (PBoC) official has stated that he thinks bitcoin will end up floating down a river as a dead body.

LocalBitcoins Traders Charged with Fraud for Selling Bitcoin to Thief in Kenya

Three Kenyan peer-to-peer bitcoin brokers have been charged with banking fraud in connection with trades they made through the LocalBitcoins trading platform. The case could set a troubling precedent for bitcoin traders in Kenya. As reported by regional media outlet Kenyan Wall Street, 10.

Japan’s Cryptocurrency Exchanges Report 170 Money-Laundering Cases Since April

Following new cryptocurrency regulations in April, Japanese police have pointed to 170 cases of money laundering via cryptocurrencies reported by exchange operators in six months between April and October. Japan’s National Police Agency (NPA) has compiled its first report on cryptocurrency laundering cases following revised laws in April that mandated cryptocurrency exchange operators to flag and report transactions suspected of money laundering. The regulations kicked in alongside new legislation that now sees bitcoin recognized as a legal method of payment in Japan.

Deutsche Bank’s Chief Strategist Wants You to Avoid Bitcoin

Deutsche Bank’s chief strategist has said that he wouldn’t recommend bitcoin as an investment option. Ulrich Stephan, chief strategist at Germany’s global banking and financial services company, said this week: I would simply not recommend this to the everyday investor. According to a report from Reuters, the main reasons for Stephan’s comment is due to the fact that the digital currency’s price fluctuates too much and regulation is non-existent.

Alleged BTC-E Admin’s Extradition Hearing Postponed until December

As CCN previously reported, 38-year-old Russian national Alexander Vinnik was arrested in July while vacationing in Greece, in connection with alleged financial crimes committed while operating the now defunct bitcoin exchange BTC-e. Back in October, a three-judge panel approved a request to extradite him to the U.

Alleged Bitcoin Launderer BTC-E Admin’s Legal Future Thrown Into Turmoil

A Greek court approved Russia’s extradition request for alleged BTC-e operator and bitcoin launderer Alexander Vinnik, throwing his judicial future into question. As CCN has reported, Vinnik — a 37-year-old Russian national — was arrested in July while vacationing in Greece in connection with alleged financial crimes he committed while operating bitcoin exchange BTC-e.
Russia Blasts Decision to Extradite Alleged Bitcoin Money Launderer

Russia Blasts Decision to Extradite Alleged Bitcoin Money Launderer

Russia's foreign ministry has sharply criticized a Greek court's decision to extradite Alexander Vinnik to the US for his alleged role in laundering funds through the BTC-e bitcoin exchange. In a statement, the Ministry for Foreign Affairs said today that they "noted with regret" that the court opted to comply with the US's extradition request for Vinnik, who was arrested in Greece in late July and was accused of laundering billions of dollars in bitcoin through the exchange.

Alleged BTC-E Admin and Bitcoin Launderer Will Be Extradited to U.S.

Alleged bitcoin launderer and BTC-e administrator Alexander Vinnik will be extradited to the United States, a Greek court decided Wednesday morning. Vinnik, a 37-year-old  Russian national, has been indicted by a U.S. grand jury on 21 counts related to financial crimes. Most notably, he is accused of laundering $4 billion in bitcoin, including funds stolen from Mt.

FICO Patent Filing Hints at Plans for Bitcoin Exchange Monitoring

The company behind the FICO credit scoring system is looking at how to collect information from bitcoin exchanges as part of a new anti-money laundering product, new public documents show. A patent application from FICO, published September 21, details a programmable system for detecting potentially illicit transactions and flagging them for future review. That information would then be used to develop "threat scores" to be utilized by bank anti-money laundering specialists, according to the filing.