US DoJ DEMONSTRATES ITS ABILITY TO TRACK ILLEGAL FOREIGN FUNDS LAUNDERED THROUGH CRYPTO

An article from Orrick Herrington & Sutcliffe LLP on 2 September was concerned with civil forfeiture actions brought by the a US Attorney to seize stolen or laundered virtual currency from various terrorist organizations and North Korean actors. These combined actions represent the largest seizures of cryptocurrency by the US Government to date.  It is said that these cases demonstrate that in its fight against money laundering and terrorist financing, US law enforcement can identify and prosecute terrorist networks that use virtual currency in their attempts to finance their activities through anonymous donations.

https://www.jdsupra.com/legalnews/doj-demonstrates-its-ability-to-track-59432/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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