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Deloitte fined record £15m over ‘serious and serial failures’ in Autonomy audit

Deloitte has been ordered to pay a record £15 million fine for “serious and serial failures” in its audit of Autonomy, the British software company at the centre of one of the country’s largest civil fraud cases. The accounting firm and two of its former partners were found by a… Read More

Leaked EU draft proposes all-encompassing laws for crypto assets

A leaked version of rules to be issued later this month by the European Commission proposes an all-encompassing set of regulations covering the trading or issuance of digital assets across the 27-nation bloc. Europe’s Markets in Crypto-Assets (MiCA) draft legislation provides legal certainty around crypto assets – cryptocurrencies, security… Read More

US moves to seize $330m of alleged 1MDB assets held by UK law firm

The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More

18th September 2020

Suspected arms dealers moved millions in Somali money transfers, report says

Somali money transfer companies moved more than $3.7 million in cash between suspected weapons traffickers in recent years, including to a Yemeni under U.S. sanctions for alleged militant links, according to a report seen by Reuters. The findings by a Geneva-based research group, the Global Initiative Against Transnational Organized Crime,… Read More

18th September 2020

US imposes sanctions on Iranian intelligence, Hezbollah-linked targets in Lebanon

The United States rolled out sweeping new sanctions on Thursday, blacklisting cyber actors the Donald Trump administration says are backed by Iranian intelligence and Lebanon-based targets it says are linked to Hezbollah. The US Department of Treasury sanctioned two Lebanon-based companies, Arch Consulting and Meamar Construction, for alleged links to the… Read More

18th September 2020

Former IAAF president Lamine Diack jailed for taking bribes to cover up Russian doping

The former president of international athletics has been jailed for two years by a French court after being found guilty of taking millions of pounds in bribes to cover up positive drugs tests by Russian athletes. Lamine Diack, 87, who ran athletics for 16 years until he was succeeded by… Read More

18th September 2020

China-backed hackers broke into 100 firms and agencies, U.S. says

The Justice Department said on Wednesday that a group of hackers associated with China’s main intelligence service had infiltrated more than 100 companies and organizations around the world to steal intelligence, hijack their networks and extort their victims. The United States government presented the allegations in a set of three… Read More

18th September 2020

U.S. threatens sanctions for arms sales to Iran

The Trump administration threatened Wednesday to impose an array of fresh sanctions to deter China and Russia from selling weapons to Iran after an arms embargo on Washington’s Middle East foe expires next month. Elliott Abrams, the administration’s special envoy for Iran and Venezuela, told reporters that the sanctions “will… Read More

18th September 2020

Jamaican Banks Easing Account Opening Restrictions

Following amendments to the Proceeds of Crime Act (POCA) regulations in late 2019, several commercial banks have started to ease the account opening requirements. This change is especially for newly designated low-risk bank accounts which previously excluded thousands of people from joining the formal banking system due to the inability… Read More

18th September 2020

Estonia: Foreign students falling victim to fictitious real estate ads

Swindlers are offering foreign students imaginary apartments for rent using false identities, addresses and other tricks of the trade. The police are all but powerless and urge people to stay vigilant as the scheme crosses more than one national border, ETV investigative journalism show “Pealtnägija” reported on Wednesday. “Everything was… Read More

18th September 2020

U.S. charges two Russian nationals who allegedly stole cryptocurrencies

The U.S. Justice Department charged two Russian nationals who prosecutors say defrauded three cryptocurrency exchanges and their customers, resulting in losses of at least $16.8 million. Danil Potekhin and Dmitrii Karasavidi were charged in the U.S. District Court in San Francisco with aggravated identity theft, conspiracy to commit computer fraud… Read More

17th September 2020

FIFA’s former No. 2 caught up in scandal had $11 million debt

A former FIFA official accused of accepting nearly $1.5 million in bribes told the Greek businessman accused of paying him the cash to delete most of their correspondence. Jerome Valcke, FIFA’s former secretary general, sent the message to Dinos Deris in October 2016, six months before Swiss federal prosecutors opened… Read More

17th September 2020

U.S. Treasury plans major overhaul of anti-money-laundering rules

The Financial Crimes Enforcement Network said Wednesday that a significant overhaul of the nation’s anti-money-laundering regulatory framework is in the works. In an advance notice of proposed rulemaking, Fincen said it plans to firm up the definition of an “effective and reasonably designed” AML compliance program, something the regulator said… Read More

Must Read

Deloitte fined record £15m over ‘serious and serial failures’ in Autonomy audit

Leaked EU draft proposes all-encompassing laws for crypto assets

US moves to seize $330m of alleged 1MDB assets held by UK law firm

Suspected arms dealers moved millions in Somali money transfers, report says

US imposes sanctions on Iranian intelligence, Hezbollah-linked targets in Lebanon