Bitcoin Mining is not a Money Transmission, According to FincEN

CoinReport has posted the details of a recent FinCEN release. FinCEN Declares Bitcoin Escrow and Cloud Mining Not Money Transmitters Posted April 30, 2014, by Ali Najjar The US Department of the Treasury’s Financial Crimes Enforcement Network has issued a release, ruling that bitcoin cloud mining services and Escrow services are not considered money transmitters. Money … Continue reading »

General / In the Middle East

Crisis in Turkey: A case of “Endemic Corruption”

Since the summer of 2013, Turkey’s masses have been enthralled in on-going protests against Prime Minister Recep Tayyip Erdoğan and his administration’s growing authoritarian policies and practices. With Erdoğan responding much like Syria’s Assad regime through police brutality against protestors and media censorship, anger and outrage have spread quickly throughout Turkey as well as the … Continue reading »


Elder Fraud

A very common, though often underreported, form of financial crime is elder fraud. According to Barbara Repa, J.D., there are more than 5 million cases of fraud targeting older adults in the U.S. every year. However, only 1 in 25 cases is reported to law enforcement. There are countless ways to commit elder fraud, but … Continue reading »


What are Financial Crimes?

With whom do you bank? Do you own any stocks? Move money across borders? What methods do you use to move money? Do you donate to charity? Do you declare all of your earnings on your tax return? Give gifts to anyone whose position of power could benefit you? Ever transferred money on someone else’s … Continue reading »