https://www.scmp.com/rss/305911/feed Liberty Reserve was a digital currency service based in Costa Rica with more than 1 million users when it was shut down after an investigation spanning 17 countries. US prosecutors accused it of helping criminals launder more than US$6 billion (HK$46.6 billion) in illicit funds. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Hong Kong and mainland China are vital links in the US$6 billion money laundering network run by global currency exchange Liberty Reserve, which is facing criminal charges in the United States. A Hong Kong company, Extension Asia, deposited part of Liberty Reserve's "ill-gotten" funds now demanded by the US authorities at the Hong Kong branch of Bank of Communications, one of China's biggest banks, and a bank in Shenzhen, alleges a US court indictment filed by US prosecutors. On Tuesday, US... https://www.scmp.com/business/companies/article/1250938/liberty-reserve-tied-hong-kong-china?utm_source=rss_feed https://www.scmp.com/business/companies/article/1250938/liberty-reserve-tied-hong-kong-china?utm_source=rss_feed Fri, 31 May 2013 16:00:00 +0000 When an undercover agent posing as a new client sought to register at the currency transfer firm Liberty Reserve as “Joe Bogus” from “123 Fake Main Street” in “Completely Made Up City,” no one at the company based in Costa Rica objected. The same client recording digital currency transactions as “ATM skimming work” and “for the cocaine”? Still no problem. In fact, federal prosecutors in Manhattan say anonymity and criminality were what Liberty Reserve was all about. “The only liberty that... https://www.scmp.com/lifestyle/technology/article/1249637/liberty-reserve-money-hub-crooks-feds?utm_source=rss_feed https://www.scmp.com/lifestyle/technology/article/1249637/liberty-reserve-money-hub-crooks-feds?utm_source=rss_feed Thu, 30 May 2013 05:40:22 +0000 US prosecutors have filed an indictment against the operators of digital currency exchange Liberty Reserve, accusing the Costa Rica-based company of helping criminals around the world launder more than US$6 billion (HK$46.6 billion) in illicit funds linked to everything from child pornography to software for hacking into banks. The indictment unsealed on Tuesday said Liberty Reserve had more than a million users worldwide, including at least 200,000 in the United States, and virtually all of its... https://www.scmp.com/business/companies/article/1248810/us-accuses-cyber-exchange-laundering-us6b?utm_source=rss_feed https://www.scmp.com/business/companies/article/1248810/us-accuses-cyber-exchange-laundering-us6b?utm_source=rss_feed Wed, 29 May 2013 02:42:43 +0000