14th February 2019
Drug kingpin Joaquin ‘El Chapo’ Guzman Loera, who is estimated to have generated billions in illicit proceeds, has been found guilty of all 10 counts against him, including participating in a money laundering conspiracy and narcotics trafficking. Also known as ‘El Rapido,’ Guzman was convicted on Tuesday by a federal… Read More
13th February 2019
Police in France and Italy have swooped in on suspected members of a gang that operated a ‘complex’ network which involved moving dirty cash to Algeria from Europe. The criminal cash flows are estimated at €5 to €7 million per month. “Money originating mainly from drug trafficking and tax evasion… Read More
11th February 2019
A former sales boss at a London firm has pleaded guilty over allegations he made corrupt offers to influence officials in Saudi Arabia to award the company contracts worth billions. British national David Lufkin, who worked as Global Head of Sales for Petrofac International Limited, is now awaiting sentencing… Read More
11th February 2019
AP — The Senate’s top Democrat is introducing legislation to “hold China accountable” and sanction laboratories and other traffickers who export fentanyl to the United States. The bill, which will be introduced by Sen. Charles Schumer, of New York later this week, is likely to add to growing tension between… Read More
11th February 2019
A new scheme that trains bank staff to spot the signs of a scam and help customers deemed at risk has helped prevent £38 million in fraud, an industry group said. Under the Banking Protocol, staff can request an immediate police response to the bank if they believe someone is… Read More
8th February 2019
The United Kingdom’s National Crime Agency (NCA) has considered up to 140 unexplained wealth orders (UWOs) to date, according to an official. UWOs require individuals to explain how they obtained an asset where it is suspect that their income would be insufficient to obtain it. So far the agency has… Read More
7th February 2019
AP — A judge should compel Airbnb to hand over 10 years of receipts and other documents from its hosts to the state of Hawaii in part because the home-sharing platform has acknowledged that the hosts aren’t fully complying with state tax laws, a court filing… Read More
6th February 2019
Metro Bank said on Monday some customers had been hit by a fraud which targets a weakness in telecom companies’ text messaging systems used to verify bank transactions, and the bank said it was a wider attack on British banks. “Of those customers impacted by this type of fraud, an… Read More
5th February 2019
An accountant alleged to have committed financial crime offences related to the Panama Papers has appeared in court, according to the International Consortium of Investigative Journalists (ICIJ), which published details of the scandal when it first broke. Richard Gaffey pleaded ‘not guilty’ before the District Court for the Southern District… Read More
5th February 2019
A key government-appointed inquiry into misconduct and other issues within the Australian banking sector has highlighted a need to reform culture within the industry, and revealed issues of ‘greed’ within industry, where the drive for profit supersedes customer care. In its final report published on Monday, the Royal Commission said… Read More