All news with #cryptomus tag
Wed, October 22, 2025
Canada Fines Cryptomus $176M over AML Oversight in 2025
🔒 FINTRAC has imposed a $176,960,190 penalty on Xeltox Enterprises Ltd., the operator of Cryptomus, after finding widespread failures to file suspicious transaction reports tied to trafficking in child sexual abuse material, fraud, ransomware payments and sanctions evasion. Regulators said the payments platform enabled dozens of Russian‑focused exchanges and cybercrime‑facing services to move illicit proceeds. The action follows investigative reporting showing numerous money service businesses clustered at shared Canadian addresses that appear to be fronts.