Lmst

Just in case you were wondering why yes, there is a #crypto angle to the massive #TDBank money laundering scandal.

Turns out a big chunk of the fines levied by #FinCen for the massive drug money laundering facilitated by TD Bank was because "over $420 million [sent] to a financial institution offering cryptocurrency services in the high-risk jurisdiction of #Colombia."

Curious if anyone has any guesses as to what crypto company that is or was.

edit: my current guess is that the crypto company is #Kado, a Colombian company that trades crypto for cash and prepaid debit cards and uses #FortressTrust (FKA #PrimeTrust, a #Nevada company long rumoured to be connected to the italian mafia), to do (probably fake) KYC/AML.

#drugcartels #stockmarket #banking #banks #finance #moneylaundering #uspol #canada #canadapol #canadianpolitics #cryptocurrency #bitcoin #BTC #USDT #USD #crime #cartels #drugcartels #organizedCrime

from an international cryptocurrency exchange platform. where the purpose. ultimate originators, and source of funds were unknown to TD Bank. Despite this high volume of funds from unknown sources, TD Bank continued to ocess transactions for Customer Gmuﬁ C. including the facilitation of over $420 million to a financial institution offering cryptocurrency services in the high-risk jurisdiction of Colombia. TD Bank Emcess:d these transactions on behalf of Customer G-ronﬁ C. due in part to a lack of clear controls applicable to customers dealing in cryptocurrency: the limited high- level written policies the Bank had in place relating to virtual assets alluded to the requirements for certain additional controls and monitoring. However. there is no evidence any enhanced controls were ever applied to Customer Group C’s extensive transactions with virtual asset service providers.

Despite the high volume of suspicious transactions and “red flags™ associated with high-risk jurisdictions and rapid movement of funds within a short timeframe. TD Bank failed to proactively report this suspicious activity until it received multiple law enforcement inquiries about Customer Group C. Furthermore. four months after Customer Group C was onboarded by the Bank. a financial regulator ordered an affiliate of Customer Group C to cease its operations. and its assets were ordered to be liquidated for the benefit of investors. TD Bank failed to conduct appropriate due diligence

🚨🚨🚨#AHORA 🚨🚨🚨
#Ripple ya no adquirirá Fortress Trust, dice el director ejecutivo Brad Garlinghouse

Ripple ha decidido no adquirir directamente #FortressTrust después de firmar previamente una carta de intención, según el director ejecutivo Brad Garlinghouse.
https://x.com/ismeidy/status/1707475463570870596?s=20

🚨🚨🚨 #AHORA 🚨🚨🚨
#Ripple $XRP adquiere Fortress Trust, una sociedad fiduciaria dedicada a las #criptomonedas

La firma #blockchain #Ripple adquirió #FortressTrust, una compañía fiduciaria autorizada con sede en Nevada con un enfoque en #criptografía y #Web3
https://twitter.com/ismeidy/status/1700210525349519476?s=20

#FortressTrust

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