UK Backs Money Laundering Crackdown With $676M and 500 New Officers
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Brazilian police have dismantled a cryptocurrency money laundering network linked to the PCC, involving nearly $2 billion.
According to Foresight News News, Brazilian federal police launched Operation "Exchange" on Friday, targeting a criminal organization linked to the First Capital Command (PCC), Brazil's Specially Designated Global Terrorist Group (SDGT). This organization is accused of using cryptocurrency and cash to launder money and transfer illicit funds from Florida to Brazil. The operation involved 50 police officers who executed 13 search and seizure warrants and 11 provisional arrest warrants at multiple locations in São Paulo state. Authorities estimate that the criminals laundered nearly $2 billion through this money laundering scheme, mixing peer-to-peer transactions, large bank transactions, and cash transactions. However, as the investigation is ongoing, it has not yet been determined whether any exchanges were involved. On July 1, two suspects, Victor Henrique de Oliveira Shimada and Stella Stefanie Nunes Henrique de Oliveira, who were suspected of involvement in the organization, were added to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list along with three Brazilian companies and one Portuguese company due to their affiliation with the First Capital Command (PCC).
Former CEO of Goliath Ventures admits to fraud and money laundering charges in $400 million cryptocurrency Ponzi scheme.
According to CoinDesk, prosecutors in Florida have revealed that Christopher Alexander Delgado, former CEO of Goliath Ventures, has pleaded guilty to charges including conspiracy to commit wire fraud, wire fraud, and money laundering in connection with a cryptocurrency investment scam involving approximately $400 million.
The former CEO of Goliath Ventures pleaded guilty to fraud and money laundering charges involving approximately $400 million.
PANews reported on July 1 that Christopher Alexander Delgado, a Florida man and former CEO of Goliath Ventures, pleaded guilty to charges of wire fraud, conspiracy to commit wire fraud, and money laundering. He faces up to 20 years in prison for each count of fraud and up to 10 years in prison for money laundering. Delgado's Goliath Ventures lured investors with promises of high returns from cryptocurrency liquidity pools. Prosecutors allege that investors paid Goliath at least $400 million, which was used for lavish business parties, vacations, and extravagant lifestyles for employees. Delgado used investor funds to purchase at least six properties valued between $1.15 million and $8.5 million, as well as Lamborghinis, Rolls-Royces, Rolex watches, Louis Vuitton bags, and Tiffany jewelry.
The deputy governor of the People's Bank of China stated that efforts to combat money laundering related to virtual currencies have been strengthened, with over 2,000 money laundering cases adjudicated last year.
According to Mars Finance, an article published on the official WeChat account of the People's Bank of China (PBOC) stated that PBOC Vice Governor Xuan Changneng said that China's anti-money laundering work has entered a new stage of high-quality development, with significant results achieved in combating money laundering and related crimes. In 2025, more than 2,000 cases nationwide were adjudicated under Article 191 of the Criminal Law for money laundering. Efforts have been strengthened to combat professional money laundering, virtual currency money laundering, and cross-border money laundering activities, improving the quality and efficiency of investigation, prosecution, and sentencing in money laundering crimes. Criminal gangs exploit differences and loopholes in legal systems and regulatory rules in different countries and regions to engage in arbitrage, using various methods such as nominee accounts, fund transfers, and virtual currencies to conceal the flow of funds. This poses new challenges to financial supervision and law enforcement efforts in various countries and urgently requires strengthened cross-border coordination and cooperation in intelligence sharing, case investigation, and asset recovery.
Hong Kong police have busted a HK$230 million cryptocurrency money laundering case, and a mainland Chinese woman has been sentenced to 47.5 months in prison.
According to HK01, Hong Kong police have cracked a cross-border money laundering case. The syndicate used 43 Hong Kong bank accounts between June and September 2024 to process funds from 34 fraud cases, totaling approximately HK$18 million. They are also suspected of laundering up to HK$230 million in illicit proceeds through cryptocurrency transactions via these bank accounts. Police investigations revealed that a 34-year-old woman from mainland China allegedly opened multiple dummy bank accounts in Hong Kong to assist the criminal syndicate in laundering approximately HK$9.29 million in illicit gains. She was also accused of purchasing cryptocurrency through virtual asset exchange shops to conceal the source and flow of funds. The woman was sentenced to 47.5 months in prison. Hong Kong police remind the public that assisting criminal syndicates in handling funds can result in up to 10 years imprisonment, and money laundering offenses can carry a maximum penalty of a HK$5 million fine and 14 years imprisonment.
The deputy governor of the People's Bank of China stated that efforts to combat money laundering related to virtual currencies have been strengthened, with over 2,000 money laundering cases adjudicated last year.
According to an article published on the official WeChat account of the People's Bank of China, Xuan Changneng, Vice Governor of the People's Bank of China, stated that China's anti-money laundering work has entered a new stage of high-quality development, with significant results achieved in combating money laundering and related crimes. In 2025, more than 2,000 cases nationwide were adjudicated under Article 191 of the Criminal Law concerning money laundering. Since 2022, efforts have been intensified to combat professional money laundering, virtual currency money laundering, and cross-border money laundering activities, improving the quality and efficiency of investigation, prosecution, and judgment in money laundering crimes.