By purchasing a verified account on Wirex, the user can make anonymous transfers from cryptocurrencies to fiat money. Such suspicious accounts were registered for citizens of the European Union, Ukraine or Ukrainian refugees with a residence permit in the EU. The cost of the profiles ranged from $30 to $220.
Wirex includes a company from the UK, and the service itself is regulated by the Financial Conduct Authority (FCA). However, the company is not registered as a firm working with crypto assets.
Wirex’s operations in the European Economic Area are supported by the Lithuanian subsidiary UAB Wirex.
“We believe anti-money laundering regulators in the UK and EU should take a closer look at Wirex,” Transparency said in its report.
Previously, Transparency International found that, bypassing Western sanctions, Russians most often use Tether’s stablecoins to send money to Western countries.
Recently, the Russian crypto exchange Garantex denied data from The Wall Street Journal that the platform is involved in financing Hamas militants. The WSJ article stated that Palestinian Islamic Jihad militants received $93 million before the attack on Israel.
Source: Bits
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