Implications of DOJ’s Pursuit of the Crypto-Laundering Couple

The DOJ’s recent announcement that, some six years after the theft of virtual currency stemming from the hack of Bitfinex, a New York City couple had been arrested for conspiring to commit money laundering associated with the theft made for good tabloid reading. Beyond the drama, there are broader AML compliance implications, cybersecurity concerns and, perhaps, some cautionary inferences about the use of cloud storage accounts for the corporate sphere. See “Virtual Currencies: Opening a New Avenue for Financial Crimes” (Mar. 17, 2021).

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