Tornado Cash OFAC Sanctions As of August 8, 2022, the Office of Foreign Assets Control (OFAC) is concerned that Tornado Cash has been laundering over $7 billion worth of cryptocurrency, leading to OFAC sanctions. For more information on OFAC Sanctions Virtual Currency Mixer Tornado Cash, click here. According to a…
SOC 2 completion Truth Technologies, a provider of anti-money laundering, anti-fraud, customer identification, and compliance products and services, recently announced the successful completion of their 2023 SOC 2 Type 2 examination. The achievement reflects their long-standing commitment to data security while allowing them to meet industry standards. Since Truth Technologies…
Evasion of Russia-related export controls On September 8th, the Financial Crimes Enforcement Network (FinCEN) published a Financial Trend Analysis that analyzes suspected evasion of Russia-related export controls. This analysis is based on reports filed under the Bank Secrecy Act (BSA) in response to previous joint alerts on this matter. This…
What is FATF? The Financial Action Task Force (FATF) “promotes and develops policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction” (FATF). FATF suggestions are accepted globally as counter-terrorist financing (CFT) and anti-money laundering (AML) regulations. These…
The Groundworks of the Money Laundering Scheme Russian Oligarchs Viktor Vekselberg and Vladimir Voronchenko are accused of running a money laundering operation through their real estate properties in the U.S. The Department of Justice has alleged that six luxury properties have been maintained by channeling millions of dollars into the…
A look into Danske bank Danske Bank is a Danish multinational banking and financial services corporation. It was founded in 1971 and is the largest bank in Denmark. They have banks in Finland, Norway, Sweden, Lithuania, Poland, the United Kingdom, Northern Ireland, Ireland, India, and New York. Danske Bank is…
A look into SBF's childhood Sam Bankman-Fried (SBF) founder of cryptocurrency exchange FTX Trading Ltd., was born on March 6th, 1992 in California. His parents, Joseph Bankman and Barbara Fried are professors at Stanford Law School and currently reside in California. For High School, SBF attended Crystal Springs Uplands School…
Truth Technologies is an established, trusted provider of global risk compliance solutions. Our Sentinel application helps organizations meet their obligations for Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations. Read more about our company.
