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News

New Zealand authorities seize USD 90 mln linked to crypto laundering

Thursday 25 June 2020 08:54 CET | News

New Zealand police have seized USD 90 million in bank funds linked to Alexander Vinnik, a Russian alleged to have been the controller of BTC-e cryptocurrency exchange.

The seizure of funds is said to be the largest in the country’s history by federal police. The crypto exchange no longer exists. The force’s Asset Recovery Unit moved to freeze the funds amid a global investigation into the activities of the exchange and its operators, FCCED cited a report by news source NZ Herald.

New Zealand police allege the exchange had no anti-money laundering (AML) controls in place, resulting in criminals laundering crime-related proceeds through the platform. Alexander Vinnik is now in custody in France. French officials have since charged him with counts of extortion, aggravated money laundering, conspiracy, and harming automatic data-processing systems for his alleged involvement in laundering money for criminals.
Source: Link


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Keywords: AML, crypto, fraud prevention, criminal activities, New Zealand, crypto exchanges
Categories: DeFi & Crypto & Web3
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Countries: New Zealand
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DeFi & Crypto & Web3

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