eXer VIP Club Review: Earn Profits From Cryptocurrency Mining MLM?

What Is eXer VIP Club?
The company is a lending platform that is an obvious scam and promises insane ROIs when people purchase the Virdi Tokens. They guarantee a return of 300% ROI, a common number in various scam companies that are being operated all…

ICOs Raised Over $1 Billion in 2018, And It’s Only February

With over 40 ICOs and over $1 billion raised already in the new year, the nascent industry is on pace to top last year’s mark of $5.6 billion.
2018: An Even Bigger Year for ICOs?
Last year, there were 902 so-called Initial Coin Offerings (or ICO) pro…

CFTC Pump-N-Dump Crypto Bounty: Expose The Scam Rewards?

Source : CFTC Pump-N-Dump Crypto Bounty: Expose The Scam Rewards? The United States Commodity Futures Trading Commission (CFTC) is warning crypto investors to stay away from pump-and-dump schemes. Through a 2-page ‘Customer Advisory’ addressed to the “customers,” the regulator’s first warning is stern and even details previous examples on the same. New Technology, But The Same Old Scam It Seems Erica Elliott Richardson, the Director of Public Affairs at CFTC explained that these types of fraudulent activity were not new as they only evolved as a result of technology. They thrive through fake hype created and spread using anonymously organized mobile internet message boards and social media where they manage to pass their devious intentions across. The agency acknowledged that though such kinds of schemes have been around, the current ones are marketed as “alternative” coins and tokens with a potential to shoot in value. According to the CFTC, this scam emerged as “boiler room” frauds in the past when stockbrokers used to dupe the unsuspecting. They would use such gimmicks as “companies were on the verge of breakthroughs, releasing groundbreaking products.” Currently, these pump-and-dumps use false news reports that revolve around “famous high-tech business leaders or investors” who reportedly express interest in pouring millions of dollars. After the notable investor makes it public, the value of the little-known token suddenly shoots. Another tricky way entails using a major bank, retailer or credit card firm announcing a planned partnership with the upcoming virtual currency. From the onset, the scam’s value is just dramatic. The rise in value peaks before suddenly dropping to mark the start of the dump. It’s basically like what the commission states, “The price falls, and victims are left with currency or tokens that are worth much less than what they expected.” Whistle-Blowers Expose The Scam Earn A Bounty In the light of this fraud, the CFCT has a bonus for those who can help uncover the scheme. It is calling upon anyone with valuable information that could lead to taming the scheming project and issue monetary sanctions worth $1 million to come forward. From the penalty, the whistle-blower will be entitled to between 10-30%. CFTC Advice To Crypto Investors Admitting that it is their role to maintain sanity by acting as an “anti-fraud and manipulation enforcement authority,” the CFCT acknowledged having received complaints from victims of the vice. The Commission advises prospective investors against believing in ads and websites that promise quick riches as well as buying tokens based on tips from social media. It, however, emphasizes that in the end, it is upon the customer to purchase digital currencies or tokens based on the social media marketing gimmicks. btc

Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges

Source : Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges Just recently Japanese investigators revealed they had obtained 669 reports concerning “suspected money laundering” tied to cryptocurrency transactions and domestic digital currency trading platforms. The linked data was derived from investigations spurred by the recent transaction reporting statutes licensed exchanges are required to follow. Also read: Bitcoin Is Finding Its Way into High Schools Japanese Police Are Reviewing 669 Alleged Money Laundering Cases Tied to Cryptocurrency Trading Platforms This week Japanese police told the press that they are reviewing 669 cases that involve possible money laundering and cryptocurrency exchanges. The cases stem from transactions that took place between April and December of 2017. According to the regional reports, the data came from digital currency exchange ‘transaction reporting,’ a licensed cryptocurrency exchange requirement now tethered to the country’s existing AML/KYC laws. The National Police Agency did not reveal why exchange operators were triggered to report the latest findings. However, while reporting on the recent investigation, Japan’s Nikkei Asia Review states the outcome was due to: Questionable transactions repeated frequently in a short span of time. There are only 16 licensed exchanges in Japan. The FSA is investigating 32. Police Report That 2017 Had Fewer Cases Than the Year Prior The news also follows the recent Coincheck hack where 58 billion yen ($540 million) worth of the cryptocurrency NEM was lost due to a hack. Coincheck was not among the 16 licensed exchanges in Japan and was waiting for licensure approval. 32 cryptocurrency exchange operators have been dealing with the Japanese Financial Services Agency (FSA) a government agency involved with regulations and reporting requirements. The National Police Agency also explained that suspected money-laundering cases involved with digital currencies have dropped compared to AML/KYC matters found in 2016. Last year there were 400,043 AML/KYC investigations and that metric was 1,048 cases less than the year before. Additionally, Japan’s police agency says that most of the transaction reporting derived from banks and other types of financial companies. The agency reports that these institutions reported a total of 346,595 cases. Credit card companies and local credit unions disclosed 28,707 cases to the police department. What do you think about the Japanese police reporting 669 cryptocurrency exchange cases that involve alleged money laundering? Let us know what you think in the comments below. Images via: Shutterstock, Mahathir Mohd Yasin, Japans NPA, and Pixabay. At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. The post Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges appeared first on Bitcoin News.

Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges

Source : Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges Just recently Japanese investigators revealed they had obtained 669 reports concerning “suspected money laundering” tied to cryptocurrency transactions and domestic digital currency trading platforms. The linked data was derived from investigations spurred by the recent transaction reporting statutes licensed exchanges are required to follow. Also read: Bitcoin Is Finding Its Way into High Schools Japanese Police Are Reviewing 669 Alleged Money Laundering Cases Tied to Cryptocurrency Trading Platforms This week Japanese police told the press that they are reviewing 669 cases that involve possible money laundering and cryptocurrency exchanges. The cases stem from transactions that took place between April and December of 2017. According to the regional reports, the data came from digital currency exchange ‘transaction reporting,’ a licensed cryptocurrency exchange requirement now tethered to the country’s existing AML/KYC laws. The National Police Agency did not reveal why exchange operators were triggered to report the latest findings. However, while reporting on the recent investigation, Japan’s Nikkei Asia Review states the outcome was due to: Questionable transactions repeated frequently in a short span of time. There are only 16 licensed exchanges in Japan. The FSA is investigating 32. Police Report That 2017 Had Fewer Cases Than the Year Prior The news also follows the recent Coincheck hack where 58 billion yen ($540 million) worth of the cryptocurrency NEM was lost due to a hack. Coincheck was not among the 16 licensed exchanges in Japan and was waiting for licensure approval. 32 cryptocurrency exchange operators have been dealing with the Japanese Financial Services Agency (FSA) a government agency involved with regulations and reporting requirements. The National Police Agency also explained that suspected money-laundering cases involved with digital currencies have dropped compared to AML/KYC matters found in 2016. Last year there were 400,043 AML/KYC investigations and that metric was 1,048 cases less than the year before. Additionally, Japan’s police agency says that most of the transaction reporting derived from banks and other types of financial companies. The agency reports that these institutions reported a total of 346,595 cases. Credit card companies and local credit unions disclosed 28,707 cases to the police department. What do you think about the Japanese police reporting 669 cryptocurrency exchange cases that involve alleged money laundering? Let us know what you think in the comments below. Images via: Shutterstock, Mahathir Mohd Yasin, Japans NPA, and Pixabay. At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. The post Japanese Police Reveal 669 Money Laundering Cases Tied to Local Exchanges appeared first on Bitcoin News.

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