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Latest Fincrime Compliance Report Published By fscom

The US government announces sanctions on North Korean groups involved in hacking and fundraising for weapons programs.

The Central Bank of Sri Lanka has put out a warning of the possible exposure to significant financial, operational, legal, and security-related risks posed by investments in virtual currencies, essentially cryptocurrencies, while asking them not to fall prey to such types of virtual schemes offered through the Internet.

The warning came as new Prime Minister Ranil Wickremesinghe on Wednesday ordered imposition of curfew in the Western Province with immediate effect and emergency law island wide.

Furthermore, debit cards and credit cards are not permitted to be used for payments related to virtual currency transactions, as the latter are considered unregulated financial instruments and have no regulatory oversight or safeguards relating to their usage in Sri Lanka, the statement added. Sri Lanka Crisis: Central Bank Warns Public on Possible Risks in Cryptocurrency Trade.

Colombo, July 13 (IANS) The Central Bank of Sri Lanka has warned the public from using cryptocurrencies amid the grave economic crisis in the country, saying

May 13, 2022, US Magistrate Judge Zia M. Faruqi ruled that the Department of Justice demonstrated probable cause in accusing an unnamed defendant of transmitting more than $10 million in bitcoin to a comprehensively sanctioned country.

A Washington D.C. federal Magistrate Judge wrote sealed opinion why he approved a DOJ criminal complaint against an American citizen accused of transmitting more than $10 million worth of bitcoin to a virtual currency exchange in a comprehensively sanctioned country.

1.     iWATCH.PH CORPORATION (iWATCH.PH) 2.     LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING, and WOLVES OPTIONS 3.     WONKACASH/WONKA CASH APP FINANCIAL CONSULTANCY SERVICES 4.     IX TRADE/IXTRADE 5.     BEYOND GENERATIONS DIGITAL MARKETING SERVICES iWATCH.PH CORPORATION (iWATCH.PH), headed   by JEROME OPERIO, REINER CADIZ and JOSEPH REGALARIO are allegedly enticing the public to invest in the said ent...

The growing popularity of cryptocurrencies in Southeast Asia has governments struggling with the question of how they should be regulated. As cryptocurrencies are privately controlled and not considered legal tender in most countries, the question of governance presents new challenges for financial regulators. Southeast Asian governments need to coordinate and act quickly, as cryptocurrencies increase the risk of fraud in the growing e-commerce industry and have also already been used to channe...