fıntrac canada Archives - Coin Engineer https://coinengineer.net/blog/tag/fintrac-canada/ Btc, Coins, Pre-Sale, DeFi, NFT Fri, 10 May 2024 13:26:30 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png fıntrac canada Archives - Coin Engineer https://coinengineer.net/blog/tag/fintrac-canada/ 32 32 FINTRAC Takes Strict Measures Against Money Laundering and Illegal Activities https://coinengineer.net/blog/fintrac-takes-strict-measures-against-money-laundering-and-illegal-activities/ https://coinengineer.net/blog/fintrac-takes-strict-measures-against-money-laundering-and-illegal-activities/#respond Fri, 10 May 2024 13:26:30 +0000 https://coinengineer.io/?p=20162 FINTRAC is part of Canada’s financial intelligence unit. The regulator aims to detect and prevent money laundering, terrorist financing and other illegal behavior in Canada‘s financial ecosystem. “Using blockchain analytics, FINTRAC found that Binance Holdings Limited failed to report receipts of $10,000 or more in virtual currency from a customer during a single transaction, with

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]]> FINTRAC is part of Canada’s financial intelligence unit. The regulator aims to detect and prevent money laundering, terrorist financing and other illegal behavior in Canada‘s financial ecosystem.

“Using blockchain analytics, FINTRAC found that Binance Holdings Limited failed to report receipts of $10,000 or more in virtual currency from a customer during a single transaction, with predetermined information occurring on 5,902 separate occasions during that transaction. “The period from June 2021 to July 19, 2023,” the regulator added.

In November 2023, the United States Department of Justice requested a $4 billion plea deal from Binance to end an investigation into alleged money laundering, fraud, and sanctions violations, The Block previously reported. The agreement also included then-CEO Changpeng ‘CZ’ Zhao resigning from his position as well as paying a $50 million fine. Zhao was sentenced to four months in prison in April 2024 after pleading guilty to violating anti-money laundering sanctions regulations.

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