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16th April 2021

Ireland: Bribes and blackmail uncovered as former bank worker arrested in major fraud probe

Fraud squad detectives encountered a sinister blackmail plot when they launched an investigation into a former employee of the Central Bank, who allegedly committed fraud crimes after he set up a business to help clients apply for bank licences. The former Central Bank employee, who is in his 40s, was… Read More

16th April 2021

Singapore Trader’s Lavish Lifestyle Allegedly Fueled By $740 Million Fraud

At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-story villa in a posh Singapore neighborhood and a Pagani Huayra supercar reportedly worth more than $5 million. Local prosecutors allege Ng also had a dark secret: His lavish… Read More

16th April 2021

Accountant jailed for ‘industrial scale’ £1.4m fraud

An accountant who committed “industrial scale dishonesty” to fund a lavish lifestyle has been jailed. Steven Day, 51, of Perthshire, Scotland, plundered £1.4m from firms and defrauded the NHS. The court heard he targeted a female friend in a £4,500 romance fraud and lied about his mother dying and having… Read More

15th April 2021

Singapore fines Swiss bank branch $1m for lapses in anti-money laundering measures

The Singapore branch of a Swiss-based private bank has been fined $1 million for failing to comply with measures to counter money laundering and terrorist financing. The penalty was imposed on Bank J. Safra Sarasin (BJS) for breaches between March 2014 and September 2018. These included failing to establish the… Read More

15th April 2021

Two Charged in Suspect $1 Billion Transfer Using N.Y. Credit Union

Two people were charged with using a New York state employees credit union to process more than $1 billion in suspect financial transactions while failing to file suspicious-activity reports or maintain adequate anti-money-laundering controls. Gyanendra Asre, 53, and Hanan Ofer, 67, persuaded the New York State Employees Federal Credit… Read More

15th April 2021

Sixteen Hongkongers arrested in police swoop on bookmaking syndicate that laundered over HK$180 million in 10 months

Hong Kong police have arrested 16 people in a clampdown on a bookmaking syndicate which pocketed and laundered more than HK$180 million (US$23 million) in crime proceeds over 10 months. During the operation, officers froze bank accounts containing HK$6.8 million they suspected the gang bagged through illegal gambling business. According… Read More

14th April 2021

Former Mexican senator hit with criminal charges tied to energy reform

Mexican prosecutors on Tuesday filed criminal charges against a former senator who under the previous government helped to pass a major energy reform which President Andres Manuel Lopez Obrador has attacked as tainted by corruption. Prosecutors charged Jorge Lavalle, a senator with the center-right National Action Party (PAN) during the… Read More

14th April 2021

Swiss money laundering probe eyes Lebanon central bank chief: report

From the British Virgin Islands to Geneva, Swiss prosecutors are tracking the suspected fund movements of Lebanon’s central bank chief Riad Salameh, a Swiss newspaper reported Tuesday. The Swiss attorney general’s office said in January it was investigating “aggravated money laundering… in connection with possible embezzlement to the detriment of”… Read More

14th April 2021

Wirecard’s Regulator Faces Criminal Probe as Scandal Expands

The scandal over the collapse of Wirecard AG expanded as German financial regulator BaFin faces a criminal probe into how it oversaw the payment processor and whether some of the agency’s staff illegally traded the stock. Frankfurt prosecutors said Monday they opened the probe after reviewing information collected from BaFin… Read More

14th April 2021

U.S. Treasury’s Financial Crimes Unit Shuffles Leadership

The U.S. Treasury Department’s anti-money-laundering unit is changing leadership as it prepares to enact a sweeping new financial transparency law. Kenneth Blanco, a former federal prosecutor who has served as the Financial Crimes Enforcement Network’s director since late 2017, will depart on April 9, the Treasury unit said. Michael Mosier,… Read More

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