On Monday, Zoobia Shahnaz, a New York resident, admitted himself to be guilty of money laundering and terrorist funding. One of the ways in which Shahnaz used to achieve these offenses was bitcoin and other cryptocurrencies.
According to a press release issued by the Department of Justice of the United States, Shahnaz provides a total of USD150,000 to the Islamic State (also a terrorist group of the ISIS name) through representatives in Pakistan, China and Turkey. USD22.5 thousand was obtained through fraudulent bank loans by American Express, Chase, Discover and TD Bank.
After that, Shahnaz used a dozen credit cards to buy USD62,000 in bitcoin and other cryptocurrencies to wrap the money and finally transfer it, along with another USD65.5 thousand (whose origin has not been); to specify), to the bank accounts of companies associated with ISIS in the countries mentioned.
Shahnaz's actions were held between March and July of 2017. In December last year, Criptonoticias reported how the offender was arrested during his attempt to flee to Syria. At that time, the defendant was facing 50 years in prison. Now, this potential penalty has reduced to 20 years and a fine, as well as compensation for damages.
The FBI led the investigation against Shahnaz. The authorities found that the defendant had access to propaganda and Islamic State on several websites, as well as social forums and networks associated with group colleagues, where violent messages were probably broadcast .
FB Deputy Director, William F. Sweeney, Shahnaz's timely arrest would help to prevent offenders in the future from committing similar crimes. However, a study that took place in June last year by the European Parliament decided that little cryptocurrencies can not be used to fund terrorism.
In the allegation made by the Department in December 2017, cryptocurrencies are not mentioned specifically, possibly due to the legal disturbance that existed at that time around the cryptoactives. On this occasion, the press release sets out how part of the money obtained by Shahnaz was converted to a lack of cryptocurrencies.
New York State was the first place in the United States to regulate the exchange of housing in creating BitLicense in 2015, and since then many cases include cryptoactives in the State.
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