Tag: Cryptomus AML
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Canada Fines Cryptomus Over $176 Million for AML Violations Tied to Cybercrime
Canadian financial regulators have imposed an administrative monetary penalty of over $176 million on Xeltox Enterprises Ltd., operating as Cryptomus. The penalty from FINTRAC addresses the cryptocurrency payments platform’s significant non-compliance with anti-money laundering and anti-terrorist financing regulations, citing failures to report suspicious transactions linked to child exploitation, fraud, ransomware, and sanctions evasion. Investigations revealed…