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Owner of Unlicensed UK Crypto ATM Network Faces Criminal Charges
Summary: The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya, head of Gidiplus Limited, for operating an unlicensed network of cryptocurrency ATMs. Between December 2021 and September 2023, the network processed £2.6 million in transactions, violating the UK's Money Laundering Regulations. Osunkoya faces additional charges for forgery, counterfeiting, and possession of criminal property. This case ...
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya, head of Gidiplus Limited, for operating an unlicensed network of cryptocurrency ATMs. Between December 2021 and September 2023, the network processed £2.6 million in transactions, violating the UK's Money Laundering Regulations. Osunkoya faces additional charges for forgery, counterfeiting, and possession of criminal property. This case is part of the FCA’s crackdown on illegal crypto ATMs, following their closure of all unregistered ATMs in 2022. Osunkoya is set to appear in court on September 30.
Tags: AML,ATM,FCA
Link: Owner of Unlicensed UK Crypto ATM Network Faces Criminal Charges [Copy]
