1st January 2020
With its marble walls, gilded lobby and sign with Chinese characters that can mean “paradise on earth,” the Skytop International Club never tried to be subtle. Opened last year on the fringes of the Makati business district, Manila’s Wall Street, the club became known as a place where men would… Read More
31st December 2019
Three of Abu Hamza’s sons have been arrested over fraud and money laundering offences allegedly carried out with the help of a bank worker. The trio are accused of participating in a £1million scam using stolen details to get loans, cars and launder funds. 29-year-old Yasser was arrested at a west… Read More
30th December 2019
The biggest corruption investigation in Latin America history began, humbly enough, at a Brazilian gas station, but as it steamrollered across the region, it took down top government officials and corporate titans alike. For those caught up in the scandal, it was a moment of reckoning. For ordinary citizens, it… Read More
30th December 2019
Ongoing political demonstrations in Hong Kong are impacting APAC financial markets by accelerating wealth migration trends and increasing financial crime risk. As the risk profile in the region evolves, regulators increasingly expect financial institutions to leverage technology to meet compliance demands. This unexpected upheaval and changing regulatory landscape should serve… Read More
27th December 2019
The police have dropped an investigation into the swindling of millions of pounds from UK investors by OneCoin, a pyramid fraud cryptocurrency. The City of London police confirmed to The Times that its investigation into OneCoin, whose founders are thought to have stolen £4 billion in total and whose operations… Read More
26th December 2019
The economic offences wing (EOW) is all set to file a charge sheet in the case of the ₹6,670-crore fraud at Punjab and Maharashtra Co-operative (PMC) Bank. “My officers have prepared a very comprehensive charge sheet, leaving no room for any aspect of the case to remain unexplored,” said commissioner… Read More
26th December 2019
UK authorities have put a Chinese man behind bars for renting out hundreds of properties to gangs to be used in prostitution, drug trafficking and human smuggling. Feng Xu was arrested in Birmingham, England in May 2019 and was sentenced on Friday to more than seven years in prison… Read More
24th December 2019
China may debut the breakout fintech innovation of 2020. Beijing is primed to launch the world’s first digital sovereign currency. The initial roll out looks cautious, focusing on consumer spending. Deploying the new technology more widely in the country’s banking system could be the disruptive next step. A 2019 survey… Read More
24th December 2019
Holly Kay bought eight $1,000 Macy’s gift cards at a California mall because a scammer told her to on the Saturday before Thanksgiving. Forty minutes later, she bought $13,000 more in gift cards at that store. The ease with which Ms. Kay was able to complete those purchases underscores the… Read More
24th December 2019
The former head of HSBC Holdings Plc’s North American interest rates business was sued for fraud by the U.S. Commodity Futures Trading Commission. Christophe Rivoire helped manipulate the price of an interest rate swap between the bank and a bond issuer, the CFTC said in a complaint filed Friday in… Read More