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Homeland Security’s El Dorado Task Force is investigating federally chartered Anchorage Digital Bank’s practices, reports say. Probe follows past OCC issues & comes amid major BlackRock/Cantor custody deals. Details remain undisclosed.
In what marks the largest penalty of its kind in U.S. history, TD Bank has been slapped with a staggering $3 billion fine for enabling drug cartel money laundering—a sum that barely dents the bank’s massive profits from the scheme. According to the U.S. Department of Justice (DOJ), TD Bank pocketed $10 billion from laundering drug money, meaning even after the historic fine, the bank still walks away with a net profit of $7 billion. The bank’s role in facilitating the movement of illicit funds raises serious questions about the effectiveness of current regulations—and who is truly held accountable when
Mark Paolillo is a founding partner and the CRO and CCO at Byte Federal. Mark recently spoke at the MTRA (Money Transmitter Regulators Association) 2024 Annual Conference. Below is a transcript of his speech in full. Good morning everyone, my name is Mark Paolillo. I have worked in the public sector as a certified Public Accountant for 30 years. Today, I leverage my experience towards a new passion as the Chief Financial Officer and Chief Compliance Officer of Byte Federal. We are a Bitcoin kiosk operator. We have about 50 employees and perform the majority of our operations in-house. We are Bitcoin
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International Towers
Level 24, Tower 3
300 Barrangaroo Avenue
Sydney, NSW, 2000, Australia
1300 BYTEAU (298 328)
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