Binance CEO departs after guilty plea over money laundering as US authorities belt the crypto exchange with a $6.6bn fine

- November 22, 2023 3 MIN READ

Binance CEO Changpeng “CZ” Zhao has resigned from the cryptocurrency exchange he founder as past part of a guilty plea deal with US authorities over money laundering and US sanctions violations, that involved funded terrorist groups such as Hamas. Zhao was hit with a US$50 million fine while his company will pay US$4.3 billion (A$6.6bn)… Read more »


Kiwi anti-money laundering startup First AML crosses the ditch to Australia

- May 5, 2021 2 MIN READ

New Zealand anti-money laundering regtech startup First AML has launched in Australia to help the venture capital sector tackle the federal government’s compliance requirements.  A second tranche of AML legislation is expected to be introduced by 2023 and several of the Australia’s top VC firms using the platform. Under Tranche 1, Australia has 15,000 reporting… Read more »


NZ anti-money laundering startup First AML raises $7.3 million in Series A

- September 16, 2020 2 MIN READ

New Zealand anti-money laundering tech startup First AML has raised AU$7.3 million in a Series A round. The raise was led by US-basedBedrock Capital, with support from existing investors including Pushpay founder Chris Heaslip and Icehouse Ventures. It’s Bedrock Capital’s first APAC investment. While Australia’s big four banks have regularly fallen foul of regulators over… Read more »


Afterpay money laundering audit finds breaches came from ‘incorrect’ legal advice

- November 25, 2019 3 MIN READ

Legal advice that wrongly classified Afterpay as a factoring service led to breaches in Australia’s strict anti-money laundering laws, an independent audit of the ASX-listed fintech payments provider has found. Afterpay shares have jumped more than 10% to above $33 in morning trade on Monday after the audit, by Neil Jeans of Initialism, broadly praised the… Read more »