Internet Scams In Pennsylvania See Uptick Amid Pandemic - Across Pennsylvania, PA - People in Pennsylvania lost more money to scammers in 2020 than the previous year, a recent analysis found.
Binance Coin Loses Third Place in Cryptocurrency Ranking Amid US, German Investigations
News Analysis
The Binance Coin recently dropped out of the top three in cryptocurrency market ranking as Binance, the world’s largest crypto asset trading platform, is being investigated by U.S. and German authorities.
As of May 25, the Binance Coin (BNB) ranked fourth in market value at $50.8 billion, dropping from $90.5 billion, its market value on May 17 when it ranked third.
Bloomberg reported this month that Binance is under investigation by the U.S. Department of Justice and the IRS for issues related to money laundering and tax offenses. This is the third time in the past two months that the company has been investigated internationally.
UpdatedSun, May 30, 2021 at 8:57 am ET
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Online scams skyrocketed across the country when the coronavirus pandemic unfolded in 2020, and internet users in Connecticut were among the millions of victims. (Shutterstock)
CONNECTICUT Falling victim to an internet scam is affecting more people in Connecticut every year, with the coronavirus pandemic apparently exacerbating the problem nationwide.
In Connecticut, 41,703 people fell victim to reported online scams in 2020, a 21 percent increase from the 34,463 reported in 2019, according to Comparitech, a technology research company that analyzed data from the Federal Trade Commission, Better Business Bureau, Finance Crimes Enforcement Network and Internet Crime Complaint Center.
Connecticut is part of a national trend that saw an increase in Americans who reported online scams, from 3.8 million to 4.77 million from 2019 to 2020 a 25 percent increase, according to Comparitech. Approximately, 11.70 victims per 1,000 peop
Anti Money Laundering (AML) is a rising concern in the cryptocurrency market as the mainstream adoption of crypto is ramping up at an exponential pace. A report by CipherTrace revealed that over $3.5 billion worth of BTC was transacted by criminally associated bitcoin addresses. These addresses are controlled by hackers, dark market users, fraudsters, and even ransomware actors. These funds will eventually need to be laundered into the system using the three stages of money laundering, placement, hiding, and integration.
Evidently, a portion of these criminally transacted funds are being laundered into the system. The report further revealed that exchanges in the United States alone have received over $8.4 million worth of BTC directly from criminal addresses and have sent $41.2 million worth of bitcoin directly to criminally associated BTC addresses. Considering the report has only tracked the flagship cryptocurrency asset Bitcoin in the United States the number of funds laundered
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