OKX Crypto Exchanging Funed $ 500 million for Aml’s breaches

The operator of Okx Cryptocurency Exchange claims to dissipate anti-money laws (AML) laws.

As part of the supplication, In Cayes Fintech – Business production is like okx – pay more than $ 504 million in fine and fee, the Department of Justice said on Monday (Feb. 24).

“For more than seven years, Okx knows violated anti-money laundry laws and avoid implementing necessary policies to prevent our financial system,” Actingance US attains Matthew Podolsky said to a Review News.

“As a result, Okx is used to facilitate over five billion amounts of criminal and criminal income transactions.”

Okx, one of the largest exchange of Crypto, charged with the violation of personal policy of allowing US trading on its platform. The prosecutors also said that the platform is used to carry more than $ 5 billion suspected transactions and criminal income.

And even after the company began to ask customers to give Learn your-Customer (KYC) Trade information, Prosecutors say users to users how to provide the wrong information to draw the KYC process and the restriction of KYC users.

At one point, release said, an OKX employee encourages a potential US customer to open the wrong information about their nationality: “I know you in the US, but you can place a random country and you should go through. You need to put the name, nationality, and ID number. You can only put United Arab Emirates and random number for ID number. “

on a statement Issued in accordance with PLEA, Okx says invalid trades of American customers are the result of customers who have not yet been part of the platform.

Prayer comes while other Crypto exchanges see the legal action of the government to them against them.

For example, the financial platform Robision announced earlier this week with Security and Exchange Commission (sec) concluded an investigation into the crypto exchange and no plans to follow implementation action.

Days earlier, another crypto firm, coinbase, announced that the sed is preparing to eliminate this 2023 law against the company.

“It’s going to be a Filled withdrawalwith $ 0 on fines and zero changes in our business, “CEO Brian Armstrong wrote a post on social platform X.