FIBA 2024 AML Compliance Conference

Truth Technologies Inc. is happy to announce our future attendance at the FIBA 2024 AML Compliance Conference in Miami, FL. We're thrilled to be a part of this vibrant community of thought leaders, industry experts, and aspiring innovators. The Financial and International Business Association (FIBA) "is a non-profit trade association…

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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…

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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…

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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…

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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…

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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…

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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…

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Truth Technologies Successfully Completes SOC 2 Type 2 Examination with 360 Advanced

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…

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