money laundering
LockBit Hacker Sentenced To 4 Years Jail Plus Fined $860K
Recent reports about legal proceedings, a 34-year-old Russian-Canadian national, Mikhail Vasiliev, has been handed a sentence of almost four years in Canadian prison. Vasiliev’s involvement in the global ransomware scheme known as ...
Maryland Busts $9.5 Million #BEC Money Laundering Ring
Three indictments have been unsealed in Maryland that document an extensive network of shell companies that were used to wash at least $9.5 Million in funds from at least fifteen #BEC (Business ...
Classic Baggie: A Delaware BEC Case calls him the leader of an International Criminal Organization
The U.S. Attorney's office in Delaware charged Olugbenga Lawal with being a major money launderer for a Nigerian-based international criminal organization that specialized in Business Email Compromise (#BEC) and Romance Scam. Lawal ...
Bitzlato Founder Money Laundering Cryptocurrency Scandal
In a significant development, Anatoly Legkodymov, the Russian founder of the now-defunct Bitzlato cryptocurrency exchange, has recently pleaded guilty to charges related to operating an unlicensed money-transmitting business. The implications of this ...
US Sanctions Sinbad Mixer: Disrupting Threats Unveiled
The U.S. Treasury Department recently took a significant step in the ongoing battle against cybercrime by imposing sanctions on Sinbad. It’s a virtual currency mixer utilized by the North Korea-linked Lazarus Group ...
Founders of Crypto Mixer Tornado Cash Indicted for Laundering $1 Billion
The U.S. government is taking a big swing at two founders of the Tornado Cash cryptocurrency mixer that allegedly laundered more than $1 billion in criminal proceeds from cyberthreat actors that include ...
Flashpoint Year In Review: 2022 Financial Threat Landscape
The financial sector contains a wealth of sensitive data that attracts threat actors looking to profit. In 2022, Flashpoint analysts have identified multiple key impactful threats to the financial sector, including banking ...
Nigerian Money Transfer Company Linked to Romance Scam Money Laundering
On July 7, 2022, the US Attorney for the Northern District of Texas announced that Ping Express had been found guilty. Prior to this, their CEO Anslem Oshionebo*, their COO Opeyemi Odeyale ...
Russia’s War in Ukraine Has Complicated the Means Through Which Cybercriminals Launder Funds. Here’s How They’re Adapting
Perfect storm: Sanctions and counter-sanctions Sanctions introduced against Russia in the wake of the 2022 Russian invasion of Ukraine—coupled with capital controls introduced by the Russian Central Bank to counter them—have affected ...
Cryptomixers Enable Ransomware Payment Laundering
While cryptomixers aren’t illegal in and of themselves, they have become “a linchpin in ransomware schemes,” according to a report from Intel 471. As the name implies, cryptomixers, typically standalone services, mix ...
