Featured Fraud

Argentina Puts Seized Assets to Good Use in Coronavirus Fight

By Josefina Salomón, Insight Crime, 7 April 2020 Insight Crime — Authorities in Argentina are using assets seized from drug traffickers to help fight the coronavirus pandemic, a tactic which can be replicated in other cash-strapped countries. On April 4, Argentina Federal Judge Santiago Inchausti ordered the transfer of 26 luxury… Read More

US prosecutors allege bribes in World Cup votes, charge former Fox execs in FIFA corruption probe

AP — Prosecutors revealed new details of alleged bribes paid to FIFA executive committee members to gain their votes for Qatar to host the 2022 World Cup and charged a pair of former 21st Century Fox executives with making illegal payments to win broadcast rights for the 2018 and… Read More

1MDB: Malaysia’s change in government sees whistle-blower flee, banker too scared to return

Malaysia’s recent change of government has driven a whistle-blower from the Southeast Asian country to Switzerland, while Pascal Najadi, the son of murdered banker Hussain Najadi, has said he is too scared to return to Malaysia. Despite fleeing, whistle-blower Xavier Justo has vowed not to give up his… Read More
7th April 2020
The Financial Crimes Enforcement Network has issued updated guidance providing relief from certain disclosures and requirements to assist with Bank Secrecy Act compliance concerns amid the COVID-19 pandemic. FinCEN reminded financial firms of their obligations in a statement Friday but granted leniency on two key requirements related to currency… Read More
7th April 2020
Throughout the coronavirus outbreak, all eyes have been on the sector providing the frontline response to the epidemic: healthcare. But as the military steps in to assist in a growing number of countries around the world, there are questions about whether that could lead to additional problems. The military capacity… Read More
6th April 2020
Criminals are increasingly trying to profit from the turmoil unleashed by the coronavirus pandemic, posing a new challenge to bankers who are expected to continue guarding against illicit financial flows. Austria’s financial regulator on Thursday became the latest authority to warn of a jump in criminal activity as the drastic… Read More
6th April 2020
State-controlled PrivatBank has filed a new lawsuit in Cyprus courts, demanding compensation in the amount of $5.5 billion for the schemes bearing all the signs of fraud and money laundering, which, according to the bank, were committed by its former shareholders Ihor Kolomoisky and Hennadiy Boholiubov, former first deputy chairman… Read More
2nd April 2020
“Give us our money!”, demands a group of home buyers, standing on land that should by now be finished condos — one of many fictitious projects that together comprise what is described as Morocco’s biggest-ever property scam. Adverts on state television had promised dream homes at three for the price… Read More
2nd April 2020
When hackers broke into computers at Hammersmith Medicines Research, a London-based company that carries out clinical trials for new medicines, it was a nightmare scenario for managing director Malcolm Boyce. The coronavirus crisis was just beginning to take hold in the U.K., and the company was in talks with… Read More
31st March 2020
Ukraine’s parliament has passed a bank law critical to unlocking international financial assistance in its first reading. Colloquially known as the “anti-Kolomoisky law” after oligarch Ihor Kolomoisky, the bill’s adoption is the main requirement for Ukraine to secure a much-needed $5.5-billion loan program from the International Monetary Fund (IMF). The… Read More
31st March 2020
The coronavirus has succeeded where lawmen like Bobby Kennedy and Rudy Giuliani failed for more than a century — by putting the freeze on the mob. The wholesale cancellation of major sports in the face of the contagion has wiped out tens of millions of dollars in illegal gambling… Read More
31st March 2020
In January 2017, Tom Ajamie sat in a luxury hotel suite at Main & Sky in Park City when Harvey Weinstein came bounding in for an awkward face-to-face meeting. The Houston-based financial fraud attorney had been hired by the amfAR board to investigate a suspect transaction involving Weinstein. Ajamie had… Read More
30th March 2020
The highest-ranking judge in Venezuela — on par with the chief justice of the U.S. Supreme Court — doled out legal favors to obtain millions in bribes paid through Miami and foreign bank accounts that he spent on chartered private jets, expensive watches and other luxury goods in South Florida,… Read More