Discover and read the best of Twitter Threads about #FINCEN

Most recents (24)

AN OPEN LETTER TO @FinancialCmte @FSCDems @GaryGensler @HesterPeirce @SECHerrenLee FSC and SEC Members

I write ✍️ to you on this public platform hoping you will truly understand the damage being inflicted on innocent holders of #XRP. I represent 68,700 of those holders.
We are users, developers, small businesses, content providers and investors in the digital asset #XRP.

In 2015 #XRP became the first regulated cryptocurrency in the United States, when the @DOJCivil & #FinCEN settled w/ @Ripple declaring #XRP a

“convertible virtual currency.”
After #FinCEN declared #XRP a virtual currency, forcing sales to comply w/ U.S. Banking Laws (not securities laws), foreign governments, including the U.K. 🇬🇧, Japan 🇯🇵, Switzerland 🇨🇭, Singapore 🇸🇬, and the UAE 🇦🇪, followed suit - all declaring #XRP - a non-security.
Read 26 tweets
A 🧵 about a few Facts and Dates proving the lawsuit 🆚 @Ripple & #XRP was a weapon:

1) In 2103 @chrislarsensf gives a presentation to regulators including the @SECGov,
@federalreserve, #FinCEN, etc, discussing his plan to utilize the #XRPL and how he intends to distribute #XRP;
2) Two years after that meeting, in 2015, FinCEN & DOJ enter into a settlement w/ Ripple declaring #XRP a “convertible virtual currency” and force Ripple to register #XRP sales w/ FinCEN - NOT the SEC - (the SEC is made aware of the deal and its terms pursuant to info sharing);
3) On June 13, 2018 SEC Enforcement Lawyers write ✍️ a legal memo 📝 analyzing #XRP under Howey and these enforcement lawyers DO NOT conclude #XRP is a security and it SO NOT recommend an enforcement action or a cease and desist letter against Ripple;
Read 27 tweets
“My sense is that #XRP’s value is derived from enterprise profits resulting from the works of others. Howey wowie!”

- @andykessler of the @WSJ.

Andy, I represent 67,800 #XRPHolders from the U.S. and 60 other countries from around the 🌎
I’ve also been granted amici curiae status on behalf of #XRPHolders by Judge Torres in the @SECGov 🆚 @Ripple case.

Respectfully, what forms the basis or foundation underlying your “sense” that #XRPHolders are relying on the efforts of Ripple?
For example, are you aware the majority of first time purchasers of #XRP were completely unaware of a company called Ripple and its use of #XRP?

It is is quite difficult to rely on the promises and the efforts of a company you are completely unaware exists, don’t you agree?
Read 18 tweets
EVERYONE IN crypto should read footnote 5 below.

In October 2013 @chrislarsensf met w/ various regulators to give a presentation at the U.S. Treasury Dep’t sharing w/ them @Ripple’s vision “for a global payments system and cross border payments based on blockchain technology.”
At this meeting, Ripple provided these regulators w/ a slide deck. The slides INFORMED REGULATORS that Ripple’s was actively engaged in a “distribution of #XRP on-going.”

In short, in 2013, SEVEN years BEFORE the lawsuit was filed, Ripple ratted on themselves to the U.S. Gov’t.
Who was at this meeting wherein Ripple disclosed and admitted to on-going sales of #XRP?

Here’s the list:

Not only was @SECGov at the meeting, but so was:
@USTreasury; @federalreserve; @FDICgov; @TheNCUA; @CFPB; @IRSnews; #CSBS; @FTC; @StateINL; #FinCEN; #OFAC; and the @FBI.
Read 6 tweets
HSBC just announced it wants to literally render the planet Earth unfit for human habitation. Let's talk about its other crimes. Remember the #LIBOR scandal? HSBC was neck-deep in it, costing the world's public coffers *trillions* through fraud?… 1/ "A spoof of one of HSBC's three-panel airport ads. The
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on, my surveillance-free, ad-free, tracker-free blog:… 2/
HSBC used laundered money from the world's most corrupt people to cash in on LIBOR rigging. Remember #SwissLeaks? They paid €300m to settle French money-laundering claims and escaped real consequences in the other countries implicated in the leak:… 3/
Read 32 tweets
I had a moment of optimism - here's a🧵on 7 reasons why 2022 could be a big year for the fight against dirty money and global corruption. 1/8…
1. The U.S. Strategy to Counter Corruption could be more than a flash in the pan, with concrete commitments and key opportunities such as the Summit of the Americas to follow through. 2/8…
2. The @USTreasury is on its way to forcefully implementing the historic Corporate Transparency Act to put an end to anonymous shell companies. 3/8…
Read 8 tweets
If you haven’t read @USTreasury report on money laundering in #art world, do so this weekend. #NFTs in clear sight - and not just digital art! First (?) step to #FinCEN rules requiring #KYC and much more under the #BSA. @CoinDesk summary flawless. But read the rest. 1/7
@USTreasury report puts #NFTs in full view of policymakers. Not just #artNFTs. We predicted this focus a year ago as well as focus on issue of “innocent” #artist receiving “dirty money” royalties on resale - which is flagged in this report. 2/7
@USTreasury says some NFT platforms may already be subject to FinCEN rules “depending on the characteristics of the NFTs that they offer.” Not limited to, and not excluding #artNFTs. Immediate compliance obligations - no if and when @SEC finishes its exchange rules. 3/7
Read 7 tweets
What makes the 2015 #FinCEN and @Ripple settlement even worse is that the SEC & FinCEN had entered into an agreement to share info w/ the other about companies investigated. In 2006 Chairman Cox said:“We are pleased to formalize our already strong working relationship w/ FinCEN.”
“The SEC and FinCEN will meet regularly as part of the agencies’ continuing efforts to improve anti-money laundering and anti-terrorist financing compliance.”

When Ripple settled, the SEC was well aware of the settlement & the details regarding XRP sales.…
Look at the details of the settlement.👇
“Any sale or transmission of XRP by Ripple or any of its subsidiaries shall be conducted only through an entity registered with FinCEN.”

SHALL & ONLY are are legally binding words. 👇…
Read 4 tweets
@CT_Bergstrom Cambridge Analytica, Russian intel, etc could have blundered into using evolutionary algorithms in psychological warfare.

Evolutionary algorithms take a multitude of programs and throw them at the same problem. You eliminate the ones that fail & mix together those that succeed.
@CT_Bergstrom With automated and micro-targeted propaganda it's a similar process, informed by your targets' reactions to your latest efforts, their previous responses and psychographic profile.

You don't just elicit responses.

You drive them to particular decisions or attitudes over time.
@CT_Bergstrom But your key targets are not your only test subjects.

You're studying people on an immense scale.

So you have people with matching or near-matching profiles in less critical locations - non-swing states, voters w/more certain voting profiles, etc.
Read 42 tweets
Web sitem yayına hazır:

Yazılarımı blog sayfamda güncel olarak takip edebilirsiniz.

Bu #Flood altında yazılarımı ve sitede "Kaynaklar" kısmına ekleyeceğim "kriptoparalar" ve "blokzincir teknolojileri" ile ilgili yararlı kaynakları takip edebilirsiniz.
2. Blog sayfasında: yazılarım yer alacak,

Kaynaklar sayfasında;
- Kriptoparalar,
- Akıllı sözleşme geliştirme,
- Akıllı sözleşme güvenliği,
- Yararlı Bültenler ( @LibraryDefi @kripto_kurator @BanklessHQ gibi)

gibi başlıklar altında yararlı kaynaklar olacak ve güncellenecek.
3. “Big Brother is Watching Blockchain: Blockchain Gözetim Pazarı"

- Blokzincir gözetimi neden önemli?
- Blokzincir gözetim pazarı neden hızlı bir şekilde büyüyor?
- Gizlilik açısından yansımaları neler?

#Privacy #Blockchain #Analysis…
Read 22 tweets
A partial historical review of @SEC_News 🆚 @Ripple:

The SEC waited 8 years to bring a case against @Ripple allowing individual investors to buy #XRP on over 200 exchanges worldwide.

In 2015 the DOJ and #FinCEN declare #XRP a convertible virtual currency.
In 2017 when the SEC aggressively sued companies in the digital asset space violating securities laws, it left Ripple and #XRP alone.

In 2018, the SEC allowed Ripple to purchase a 9% stake in @MoneyGram fulling knowing #XRP would be transferred to MG who would in turn
immediately sell it in the secondary market on exchanges like @coinbase to individual investors with no connection to or even knowledge of the company Ripple.

After more than a 2 year investigation into Ripple and it’s executives, the SEC could not find one instance of fraud or
Read 12 tweets
Is #FINCEN coming for #NFT #Art markets? A thread about the #NDAA, Anti-Money Laundering Act of 2020 (AMLA), its expansion of BSA coverage to include “dealers in antiquities,” & what it might mean for the #crypto art world: (link to notice here:… ) /1
Why regulate transactions of antiquities (&maybe art)? The concern is that art & antiquities can be used for money laundering, to violate sanctions, & “have been linked to ...criminal networks, ...terrorism, & the persecution of individuals or groups on cultural grounds.” /2
On Jan. 1, 2021, Congress passed the NDAA, which expands existing anti-money laundering (AML) requirements on a variety of fronts, including the addition of “dealers in antiquities” to the definition of “financial institution.” /3
Read 18 tweets
⏳One hour to go until the first evidence session of our #EconomicCrime inquiry.

We'll hear from:
✅Graeme Biggar, @NCA_UK
✅Angela McLaren, @CityPolice
✅Patrick Campbell, @policescotland

📺Watch it live here👇… Image
🚨We're underway with the first evidence session of our inquiry into #EconomicCrime.

📺Watch it live here👇… ImageImageImage
Asked about fraud in relation to the Government's #coronavirus support schemes, Graeme Biggar from @NCA_UK tells us that there are "eyewatering" amounts of fraud against the public purse. Image
Read 8 tweets
Perdue MAY have cleared the #LowBarr from his powerful cousin @SecretarySonny's corrupt boss Trump's NOT so independent DOJ & the #jayClayton's UBER #InsiderTraitorFriendlySEC in March

That was WAY B4 all of the following information was known

FYI 4 anyone unable to get behind pay wall on #Cardlytics #PerdueInsiderTrading scandal

#1- Congressional ethics rules doesn't prohibit individual stock trading.... insider trading is prohibited but hard 2 prove
My guess is that's why he was cleared by Senate ethics early
(2/) ImageImageImage
Read 24 tweets
From our #FinCENFiles investigation: Bank of America flagged $500K Michael Flynn's company received for his secret Turkish lobbying in 2016 as suspicious. But the bank didn't file a suspicious activity report w/#FinCEN until after Trump fired him
This new information highlights a major finding of the #FinCENFiles investigation: Banks often miss suspicious transactions when they occur.
The details in Bank of America’s May 4, 2017 suspicious activity report, or SAR, shed light on Flynn’s actions at a time when they, and his legal fate, are the subject of intense scrutiny.
Read 10 tweets
#FinCEN Files: 8 Big Takeaways From Our BuzzFeed News Investigation

1) Big banks around the world approve trillions of dollars of suspicious transactions despite their own staff’s warnings that they might be related to crime


3) Banks sometimes fail to take even basic steps to root out financial crime, such as determining whose money they are actually moving.

4) #HSBC, Europe’s largest bank, got a second chance after becoming a key financial conduit for narcotraffickers and money launderers...

5) Our investigation found that well before the MIRROR TRADES — one of the biggest money laundering schemes in memory — became an international scandal for #DeutscheBank, top executives there had been warned the bank was at risk of being exploited by criminals.

Read 5 tweets
🚨NEW investigation from the #FinCENFiles

VEB Russian Bank Linked To Spy Ring

The Russian bank VEB has long operated in the United States — despite dozens of suspicious activity reports outlining concerns that it was a threat to national security.…
Here's a suspicious activity report that has never been revealed nor released that JP Morgan Chase filed with #FinCEN on VEB…
Read 5 tweets
🚨Deutsche Bank showed “reckless disregard” & played a key role in helping Igor Kolomoisky launder >$750 million into the US, leading to dangerous factory conditions, unemployed workers and at least 4 steel mills that filed for bankruptcy.
Deutsche Bank has paid hundreds of millions of dollars in penalties in the past 3 years for violations of anti-#moneylaundering laws in the US, including moving suspicious payments for convicted pedophile Jeffrey #Epstein AFTER its own experts deemed him to be a high-risk.🤬
“It’s a reckless disregard of what the bank should be doing. They were looking at hundreds of millions of dollars. The bank was like the getaway car in a robbery.”~Thomas Creal, a forensic accountant who has assisted the @UN and the @DeptofDefense on #moneylaundering inquiries.
Read 5 tweets
I am still trying to make sense of the #FinCEN files & believe me it’s not easy. Yesterday I tweeted abt some specific stories I could find, & so far I haven’t changed my mind: apart maybe from the details on the DB Mirror trades, I don’t see anything significant *and* new.
But what about the actual files, now? Unfortunately, ICIJ only published 4508 items, 35bn$, so around 2% of the total. We’re missing a big chunk (not sure why, tbh. ICIJ says it’s because the rest has not enough details.) Let’s assume it’s representative – what does it tell us?
First obvious question: where is money going to and from where? Let’s chart the countries with more than 5% of the transactions.
Read 33 tweets
HSBC AT1 investors are not too happy about the risk of seeing the bank flagged as an "unreliable entity" by the Chinese authorities. Arguably, this move in AT1 is much more significant than the equity move (which happens in a sea of red anyway)
(& now, this isn't about #FinCEN)
& no*, sorry!
For those unfamiliar with the concept, what is it ?
It's a list Chinese authorities are said to be preparing which should stop companies on the list from engaging in import or export with china 1/2
Read 4 tweets
1/ "Boris did/not go to Perugia in Italy" - why does this matter? A thread.

Background first. On the 17th Sept, officials at Perugia airport said Johnson was there "in the last few days". Later they confirmed he "landed on the 11th at 2pm and left on the 14th at 7:45am".
2/ Downing Street denies he went at all. So the first issue is that either the officials at Perugia airport are lying or Johnson's staff at Downing street are.

This isn't the first and only time Johnson has lied so I'm calling dibs on it being him.
3/ The evidence is pretty obvious. The Flightradar site shows a couple of private jets flying in and out of Perugia's airport at approximately the times above - one even landed at an RAF base in Johnson's home constituency.
Read 22 tweets
BBC News - FinCEN Files: All you need to know about the documents leak

#HSBC allowed fraudsters to move millions of dollars of stolen money around the world, even after it learned from US investigators the scheme was a scam.

#JPMorgan allowed a company to move more than $1bn through a London account without knowing who owned it. The bank later discovered the company might be owned by a mobster on the FBI's 10 Most Wanted list.…
Evidence that one of Russian President Vladimir Putin's closest associates used Barclays Bank in London to avoid sanctions which were meant to stop him using financial services in the West. Some of the cash was used to buy works of art.…
Read 7 tweets

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