According to ChainCatcher news, Tether, TRON, and TRM Labs announced today that they have joined forces to establish the T3 Financial Crimes Unit (T3 FCU), a groundbreaking initiative aimed at promoting public-private collaboration to combat illegal activities associated with the use of USDT on the TRON blockchain.This novel collaboration brings together the anti-financial crime expertise of leading blockchain intelligence firm TRM Labs, the technical expertise of leading global blockchain and DAO TRON, and the external investigation team of Tether, the largest company in the digital asset industry, with the goal of creating a safer and more reliable crypto community for everyone.In the weeks since its launch, the program has worked with law enforcement to assist in freezing over $12 million in funds related to ransomware scams, investment fraud schemes, and more. Police are aware of at least 11 victims affected by these scams and hope to identify more victims as the investigation unfolds.

ChainCatcher news, according to Jinshi reports, a police spokesperson stated that the founder of the social platform "Telegram," Durov, is accused of failing to cooperate regarding cyber and financial crimes on the platform.

ChainCatcher news, according to CoinDesk, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) recently stated that crypto assets are widely used to support drug trafficking activities in Mexico (illegal fentanyl trafficking), including Bitcoin, Ethereum, Monero, and USDT. U.S. financial companies should be aware of the criminal organizations involved in the production of this dangerous narcotic.

ChainCatcher news, according to Nigerian media The Punch, the Nigerian House of Representatives Financial Crimes Committee has summoned Binance Holdings Limited CEO Richard Teng over allegations of terrorism financing and money laundering.On Friday, the committee's chairman Ginger Onwusibe issued a 7-day ultimatum to the management of Binance Holdings Limited during a panel, requiring them to attend a committee meeting on or before March 4, 2024.Ginger Onwusibe warned that if Binance Holdings fails to comply with the summons, the committee will be forced to invoke the powers granted to it by the constitution to take appropriate measures.Previously, the committee called for a hearing with the Managing Director of Binance through a letter dated December 12, 2023, signed by Chairman Onwusibe, with the hearing scheduled for December 18, 2023.

ChainCatcher news, Tether responded to the United Nations' allegations, stating that it opposes the characterization of USDT as the preferred tool of criminals. It collaborates with global law enforcement agencies, including the Department of Justice, the FBI, and the NSA. Furthermore, the company claims that the report overlooks the critical role of blockchain technology in detecting and preventing illegal activities.According to previous reports, The Block cited a Financial Times report stating that a report released by the United Nations Office on Drugs and Crime on Monday indicated that USDT has become one of the primary payment methods for money launderers and fraudsters operating in Southeast Asia, as warned by the United Nations.

ChainCatcher news, according to the Financial Times, cryptocurrency and digital payment companies paid $5.8 billion in fines last year (2023) due to deficiencies in customer checks and anti-money laundering controls, as well as failures to comply with sanctions and other financial crime issues. This includes the $4.3 billion fine imposed by U.S. prosecutors on the cryptocurrency exchange Binance. The total amount of fines for the cryptocurrency sector exceeded that of the entire traditional financial system for the first time, as the traditional financial sector only paid $835 million in fines last year.

ChainCatcher News, the IRS is ramping up its efforts to combat international cybercrime.The IRS will enhance its oversight of "tax and financial crimes involving the use of cryptocurrency, DeFi, peer-to-peer payments, and mixing services" through a pilot program established by the agency. The program officially launched in June, and the IRS is preparing to send staff to Germany, Colombia, Australia, and Singapore for investigations. The deployment of staff is expected to last for 3 months, concluding in September.In the United States, the IRS has warned that a crackdown on cryptocurrency is imminent regarding digital assets and tax evasion measures. The IRS is expected to update tax regulations based on Sections 6045 and 6045A, both of which cover broker reporting of digital asset information. (source link)

ChainCatcher news, the multi-in-one financial crime effectiveness testing platform supporting cryptocurrencies, Cable, announced the completion of a $11 million Series A funding round, with investments from CRV, Stage 2 Capital, and Jump Capital.It is reported that Cable can detect financial crime regulatory violations in real-time, thereby helping to reduce financial crime and providing the transparency that banks, regulators, and consumers want and need. Its clients include fintech and cryptocurrency companies such as Tide and Ramp. The automated tools of the Cable platform can more effectively develop and serve Web3 partners and clients. (Source link)

ChainCatcher News, the Internal Revenue Service (IRS) announced that it will launch a new pilot program this summer, sending four commissioners to Australia, Singapore, Colombia, and Germany, aimed at combating international financial and tax crimes related to cryptocurrency, DeFi, and mixed money laundering services. The program will last for 120 days, starting in June 2023 and ending in September 2023. (Source link)

ChainCatcher news, the Brazilian Federal Public Prosecutor's Office and the Federal Police have launched an investigation into Binance for alleged financial crimes. The investigation was initiated after a report from the market regulator, the Brazilian Securities Commission (CVM). It was reported that the CVM informed the São Paulo State Attorney General that the exchange might continue to offer cryptocurrency derivatives to Brazilian customers, even though the state had issued a cease-and-desist order.Binance stated that it would not comment on the ongoing investigation and reiterated that it does not offer derivatives in Brazil, that its operations comply with local regulations, and that it maintains a long-term dialogue with authorities to promote the development of Brazil and the Brazilian cryptocurrency and blockchain sector. (Source link)

ChainCatcher news, the International Crime Investigation Division of the Central District Prosecutors' Office in Seoul, South Korea, has arrested and prosecuted a gang of four suspected of violating the Foreign Exchange Transaction Act and the Specific Financial Information Act. This gang had been using remittances to buy cryptocurrencies on overseas exchanges from September last year to March this year, then transferring them to other overseas and domestic exchange accounts for sale, totaling 15 trillion won (approximately 1.178 billion USD) in cryptocurrency sold. Prosecutors believe they systematically committed crimes with the aim of profiting from the so-called "kimchi premium."It is reported that the South Korean cryptocurrency market had previously shown signs of overheating, with cryptocurrencies in the Korean market priced higher than in other countries, a phenomenon known as the "kimchi premium."

ChainCatcher news, Acting Director of the Financial Crimes Enforcement Network (FinCEN) Himamauli Das stated that the agency is closely examining DeFi, and the digital asset ecosystem and virtual currencies are "key priority areas" for the agency. FinCEN is carefully monitoring the anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks regarding cryptocurrencies and digital assets to determine whether additional regulations or guidance are needed. (source link)

ChainCatcher news, the Turkish Financial Crimes Investigation Bureau is investigating FTX.com, including individuals, institutions, banks, and crypto service providers related to FTX. Meanwhile, FTX Turkey has been handling customer withdrawals, reportedly aiming to refund all customer funds. (source link)

ChainCatcher news, according to Reuters, the local police in the Bahamas have officially intervened to investigate FTX. On Sunday morning local time, the Royal Bahamas Police Force (RBPF) issued a statement saying: "In light of the global collapse of FTX and the provisional liquidation of FTX Digital Markets Ltd., a group of financial investigators from the Financial Crimes Investigation Branch of the Royal Bahamas Police Force is working closely with the Bahamas Securities Commission to investigate whether any criminal misconduct has occurred."According to a previous report by Bloomberg, former FTX CEO Sam Bankman-Fried was questioned by local police on Saturday night. (source link)

Chain Catcher News: The Public Security Bureau of Fu'an City, Ningde, Fujian Province successfully dismantled a criminal gang that was operating in Fu'an, Xiamen, and other locations, suspected of providing illegal fund payment and settlement services for overseas gambling and fraud crimes using digital RMB, digital RMB accounts, and virtual currencies. The amount involved reached 100 million RMB, with 6 criminal suspects arrested, 11 bank accounts frozen, and a batch of tools seized. Currently, the 6 suspects have been criminally detained by the police. (Source link)