Sanctions | FinTelegram News

Category: Sanctions

September 8, 2024

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

September 8, 2024

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

September 6, 2024

Russian TV Presenter Charged with Sanctions Violations and Money Laundering!

Dimitri Simes, 76, a Russian-born U.S. citizen and former adviser to Donald Trump's 2016 presidential campaign, and his wife Anastasia Simes, 55, have been charged by the U.S. government for violating sanctions and engaging in money laundering activities. The charges stem from his work with Channel One Russia, a state-controlled television network that was sanctioned by the U.S. in 2022.

July 11, 2024

Updated Review: Lithuanian FCIS Findings Confirm FinTelegram’s Reports on Payeer’s Russian Connections and Money Laundering!

As reported previously, the Lithuanian Financial Crime Investigation Service (FCIS) has imposed a record fine on the payment processor Payeer, totaling nearly €9.3 million, for significant breaches of international sanctions and anti-money laundering (AML) regulations. This development corroborates FinTelegram's previous investigations into Payeer's Russian connections and its role in laundering money for scammers, further solidifying FinTelegram's reputation as a leading financial intelligence provider.

July 11, 2024

Bravo: Record Fines for Russian-Controlled Crypto Payment Processor Payeer for Sanctions Violations and Money Laundering Issues

The Lithuanian Financial Crime Investigation Service (FCIS) has imposed a record fine of nearly €9.3 million on Payeer, a virtual currency operator registered in Lithuania, for violations of international sanctions and anti-money laundering (AML) regulations. This development comes after FinTelegram's repeated warnings about Payeer's involvement in Russian-related transactions. The users are currently concluding the agreement with Payeer E.A.S. in Paraguay. Lithuania is no longer wanted.

July 4, 2024

Western Sanctions Against Russian Oligarchs Under Scrutiny: Legal Challenges and Global Implications!

A proxy war is taking place in Ukraine between the NATO states led by the US and Russia. Western sanctions are playing a decisive role in this. Recent European Court of Justice (ECJ) rulings have annulled sanctions against prominent Russian oligarchs, including Dmitry Pumpyansky, Mikhail Fridman, and Petr Aven. These decisions highlight significant legal and procedural issues associated with these economic sanctions.

June 13, 2024

Two U.S. Citizens Arrested for Smuggling $500,000 Worth of Luxury Goods to Russia!

The U.S. Department of Justice (DOJ) announced that the authorities had arrested two Russian-born U.S. citizens for allegedly conspiring to export nearly half a million dollars worth of luxury goods, specifically snowmachines, and associated parts, to Russia without the required licenses. The suspects, Sergey Nefedov, 40, of Anchorage, Alaska, and Mark Shumovich, 35, of Bellevue, Washington, were taken into custody.

June 10, 2024

Whistleblower Request: The Cyprus-Russian Entity of Interest MGL Wallet and its Mysterious Domain!

The Cyprus-based E-Money Institution MGL Wallet seems to be part of the MY.GAMES Group, which was a prominent branch of the Russian tech giant VK Group until Sept 2022, when it was sold to Alex Chachava, a Russian national residing in Cyprus, for $642 million. Although, this transaction may have been a reaction of the Western sanctions against Russia, the MY.GAMES Group maintains its Russian connections. The MGL Wallet is an entity of interest on the OpenSanctions list and for FinTelegram.

May 23, 2024

Russian Oligarch Fridman Pursues $15.8 Billion Sanctions Compensation from Luxembourg!

Mikhail Fridman, the Russian oligarch and founder of Alfa Group, is initiating legal action against Luxembourg in European arbitration courts, seeking $15.8 billion in compensation. He claims that a Soviet-era investment agreement protects him from what he describes as "indirect expropriation" of his Luxembourg-registered assets. Fridman is the first Russian billionaire to challenge EU sanctions and seek compensation for frozen assets.

May 21, 2024

Report: Risks of Money Laundering Activities Connected to Real Estate, Yachts, and Jets

Even with Western sanctions against Russia in place, money laundering remains a significant global concern, posing risks to financial institutions and various sectors, including real estate, luxury yachts, and private jets. Money launderers often target these high-value assets to conceal the origins of illicit funds. This report explores the risks associated with money laundering activities in these sectors and suggests mitigation strategies.

May 16, 2024

Sanctions and Crypto – Unmasking the Dark Side of Unregistered Exchanges

In recent years, the murky waters of crypto-based money laundering have come under increasing scrutiny, with unregistered exchanges playing a central role in facilitating illicit financial flows. FinTelegram has previously reported on platforms like Garantex, shedding light on how these unregulated entities have become hotbeds for laundering dirty money. The world of crypto, while revolutionary in its potential for financial freedom and innovation, has also opened doors for nefarious activities.

May 10, 2024

The Putin Proxy: Sanctioned Russian Oligarch’s Alleged Partner’s Luxury Real Estate in Kitzbühel!

Investigative reports by the Organized Crime and Corruption Reporting Project (OCCRP) have uncovered intriguing details surrounding the ownership of four luxurious properties in Kitzbühel, Austria,..

US Treasury Forgives Ukraine Looters!

On 26 September 2024, the United States Treasury’s Financial Crimes Enforcement Network ‘FinCEN’ made the astonishing decision to drop sanctions against ABLV Bank of Latvia. ABLV was sanctioned in 2018 for a list of reasons, including helping Ukrainian President Viktor Yanukovich’s bagman, Serhiy Kurchenko, steal billions of dollars from Ukraine.

Gurbir Grewal’s Departure from the SEC: His New Position and Potential Impact on Crypto Regulation!

Gurbir S. Grewal, the former Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left his position to join Milbank LLP, one of the most innovative and prestigious law firms globally. This transition from his high-profile regulatory role to private practice is likely to have lasting implications, particularly on the SEC’s enforcement strategy in the crypto sector.

Warning Against The Imminent Danger of Pig Butchering For The Dawning Cyber Society!

Pig butchering scams are a devastating form of cybercrime that blend romance and investment fraud, leaving victims emotionally and financially shattered. These sophisticated operations, run by organized crime syndicates, often exploit human trafficking victims as unwilling scammers. The perpetrators meticulously cultivate trust over months, luring targets into fraudulent cryptocurrency investments through fake platforms.

MLM Schemes

Latest Arrests in $4 Billion Forex AI Fraud Scheme OmegaPro and the Austrian Connection!

FinTelegram has reported on the fraudulent crypto MLM schemes OMNIA Tech and OmegaPro several times in the past. This week, various media outlets have reported the arrest of Robert Velghe in Turkey, who has played a crucial role in both scams. The OmegaPro MLM scam is believed to have stolen around $4 billion from victims worldwide. Here is our update with a request for additional information from whistleblowers.

Crypto MLM Scam: David Carmona Sentenced to 121 Months for IcomTech Crypto Ponzi Scheme!

iComTech was one of the numerous fraudulent MLM schemes that used cryptocurrencies as a means of fraud in parallel with the crypto hype of 2017/18. David Carmora started IcomTech in approximately 2018 with other co-conspirators as a purported cryptocurrency mining and trading company. The scheme promised to earn its victims high profits and guaranteed daily returns that would double their money within six months.