Washington, July 22 (IANS) US lawmakers pressed federal regulators to strengthen oversight of cryptocurrency ATMs after Americans lost $388 million to scams involving the machines last year.The issue emerged during a House Financial Services subcommittee hearing with Andrea Gacki, director of the Financial Crimes Enforcement Network, or FinCEN. Lawmakers said the machines had become a frequent payment channel for romance scams and schemes targeting elderly people.Democratic Representative Sean C…
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Washington, June 24 (IANS) The United States imposed sanctions on a network linked to a Cambodia-based criminal organisation accused of running large-scale online fraud operations that have targeted Americans and laundered illicit proceeds through companies across Asia and beyond.The US Department of the Treasury said it sanctioned nine individuals and 26 entities connected to the Prince Group Transnational Criminal Organisation (Prince Group TCO), targeting senior leaders, investors in scam com…
Seoul, April 20 (IANS) South Korea and the United States have agreed on enhancing cooperation to fight money laundering activities in the Asia-Pacific region, Seoul’s financial regulator said on Monday.Earlier this week, Lee Hyung-ju, commissioner of the Korea Financial Intelligence Unit (KoFIU), met Andrea Gacki, director of the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, in Washington, according to the Financial Services Commission (FSC).The …