Bitcoin Exchange OKCoin Fined in Money Laundering CaseChinese Bitcoin exchange OKCoin was recently fined for unknowingly aiding money laundering operations on its platform. The Beijing-based company, which records the maximum daily Bitcoin volume, has been ordered by the Heilongjiang Provincial Court to cough up 627,569 Yuan (around $94,000) in damages. As per the ruling, OKCoin had flawed AML and KYC policies in pace, which prompted irregularities in its identity verification procedures. A fraudster took this loophole...
http://www.newsbtc.com/2016/08/15/china-okcoin-exchange-fined/
