Binance Pleads Guilty & Agrees to Settlement Worth Billions – Contrary to its Founder’s Plea

The plea agreement(s)  According to Ballard Spahr, Binance Holdings Limited has agreed to plead guilty to violating the Bank Secrecy Act (BSA) by neglecting to uphold anti-money laundering cryptocurrency technology, not registering as a money service business (MSB), and lastly, by triggering violations of U.S. economic sanctions established under the…

Continue ReadingBinance Pleads Guilty & Agrees to Settlement Worth Billions – Contrary to its Founder’s Plea

Truth Technologies is 27 Years Young

By Egide Thein, Founder Twenty-seven years ago, in November 1996, I incorporated Truth Technologies in Virginia. It resulted from professional experiences as a graduate of the Belgian Military Academy, Director of the Luxembourg Board of Economic Development, and spokesman for the European Union at the United Nations. It revealed insights…

Continue ReadingTruth Technologies is 27 Years Young

Company President Guilty in Money Laundering Conspiracy

Money laundering conspiracy & sanctions screening evasions John C. Unsalan, the president of Metalhouse LLC, has pleaded guilty to conspiracy to commit money laundering involving sanctions screening evasion. Unsalan formed Metalhouse LLC, a trading company that trades steel products and raw materials, in Florida in 2014. Unsalan has conducted transactions…

Continue ReadingCompany President Guilty in Money Laundering Conspiracy

Clarity in Convertible Virtual Currency Mixing can help with CTF

CVC mixing concerning CTF FinCEN introduced a Notice of Proposed Rulemaking (NPRM) designating international Convertible Virtual Currency Mixing (CVC mixing) as a primary concern for money laundering and terrorism financing (FinCEN).  According to FinCEN, this NPRM addresses the global threat of illicit actors using CVC mixing services, proposing a rule…

Continue ReadingClarity in Convertible Virtual Currency Mixing can help with CTF

Optimizing BSA Compliance: How Shinhan Bank America Can Excel with an AML Compliance Program

Shinhan Bank America Violates Bank Secrecy Act without the use of AML Compliance Program According to the Financial Crimes Enforcement Network (FinCEN), Shinhan Bank America (SHBA) violated the Bank Secrecy Act (BSA) by not maintaining an AML compliance program. FinCEN has announced a $15 million civil money penalty against SHBA…

Continue ReadingOptimizing BSA Compliance: How Shinhan Bank America Can Excel with an AML Compliance Program

CRCA Conference 2023

Truth Technologies is happy to announce our future attendance at the CRCA Conference 2023 in the Cayman Islands. The Caribbean Regional Compliance Association (CRCA) is a not-for-profit regional forum. Their mission is to "influence, educate and expand in all matters that relate to compliance"(CRCA). During this two-day event, Truth Technologies…

Continue ReadingCRCA Conference 2023

Tornado Cash Facing OFAC Sanctions

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…

Continue ReadingTornado Cash Facing OFAC Sanctions