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Benefit scams worth £1bn foiled during lockdown

As much as £1bn in benefit fraud has been prevented from being paid to organised-crime groups in recent months, BBC News has learned. But before the scam was spotted, officials unwittingly confirmed thousands of stolen identities. Fraudsters took advantage of looser rules introduced to cope with a surge of universal credit… Read More

NSW Police, AUSTRAC Disrupt Money Laundering Operation

Two men have been arrested and charged over illegal transfers of currency into offshore accounts as part of an investigation that began in June. Australian police have charged two men in NSW as part of ongoing investigations into an international money laundering operation. The two were arrested last week and… Read More

Synthetic identity fraud worrying U.S. regulators

Synthetic identity fraud, one of the fastest-growing financial crimes in the United States, has become an increasing concern for regulators, as banks struggle to find common ways of tackling the innovative theft technique that combines real and fictitious data about individuals. Estimates over the scale of the fraud vary, but nearly… Read More

25th November 2020

His bank raided his account to cover a payment made to scammers

Justin Smith has been hit with a one-two punch of bad luck. First, the Toronto man was duped by a job scam that made off with $3,000. Then his longtime bank, Tangerine, helped itself to money Smith had in his tax-free savings account to recoup what it had lost in… Read More

24th November 2020

India: Former Congress MLA Roshan Baig Arrested In Ponzi Scam Case

Roshan Baig, a former Congress minister in Karnataka, was on Sunday arrested by the CBI in connection with the ₹ 4,000-crore IMA ponzi scam. He was produced in a court and sent to 14-day judicial custody. Roshan Baig was summoned to the CBI office and based on “material evidence”, he… Read More

23rd November 2020

Murky Bosnian charity appeals for African wells raise concerns

Nadzida Cano, who runs the Kids Corner Sarajevo kindergarten, says that according to the Islamic faith, securing water for someone is an act for which “a man will be rewarded after death”. This is why she and her sister, aftMillions of euros have been raised through appeals in Bosnia and… Read More

20th November 2020

Swiss Prosecutors to End Magnitsky Case as Browder Calls Foul

Swiss prosecutors are close to ending a decade-old probe into alleged money laundering tied to a $230 million tax-fraud case pursued by Sergei Magnitsky, whose death in a Russian jail prompted the U.S. to enact laws targeting those responsible. The Swiss federal prosecutors outlined their intention to close the case… Read More

20th November 2020

Ponzi scheme suspect Matthew Piercey is in deep water after using ‘sea scooter’ to flee from FBI

The pursuit of a man suspected of masterminding a multimillion-dollar pyramid scheme fraud came to an abrupt and unusual halt on the shores of an icy lake in northern California. Reaching the water’s edge before the FBI agents who were chasing him, Matthew Piercey hauled what prosecutors later called “an… Read More

20th November 2020

Greece’s controversial ‘Golden Visas’ are being used to scam Chinese nationals

Mrs Yang* had dreamt of visiting the Parthenon ever since she studied Greek mythology at school, so when a real estate agent in her home country of China approached her with an investment opportunity – a three-bedroom apartment overlooking the Acropolis and Syntagma Square, in the centre of Athens –… Read More

20th November 2020

Shepherd Bushiri: Fugitive Malawi pastor surrenders to police

A controversial millionaire pastor has turned himself in to police after South Africa issued a warrant of arrest against him for skipping bail and fleeing home to Malawi. Shepherd Bushiri and his wife, Mary, are facing charges of money laundering and fraud in South Africa. On Saturday he told his… Read More

19th November 2020

UK’s National Crime Agency Calls for Further SARs Reforms

The UK’s National Crime Agency (NCA) is calling for additional reforms to the country’s system for reporting suspicious transactions in an effort to scale back the volume of defensive filings it receives, the Financial Times reported Thursday. Although the Home Office has launched a “transformation programme” aimed at overhauling… Read More

19th November 2020

Criminals launder coronavirus relief money, exploit victims through popular apps

Criminals are laundering illegally obtained funds meant for Covid-19 relief through the most popular apps for legally sending and receiving money, law enforcement officials say. Cash App, Venmo, Zelle and PayPal have become portals to easily move money, making transactions more difficult to trace. “I’ve never seen, in my 28… Read More

19th November 2020

Sydney men arrested after allegedly sending stolen $2.3 million offshore

Two southern Sydney men have been charged with dozens of offences under money laundering laws for allegedly transferring at least $2.3 million offshore after nine victims across Australia were defrauded of the money. NSW Police arrested the men, Mark Estephan and Jamie Ronald Close, on Tuesday following a fraud investigation… Read More

Must Read

JPMorgan Chase Unit to Pay $250 Million Penalty Over Poor Internal Controls

Benefit scams worth £1bn foiled during lockdown

CSIS alleges Iran used Toronto company to wire millions to Canada despite sanctions

‘I Already Knew Who Was Behind Her’: A Mysterious Woman, a Top Russian Official, and Contracts Worth Millions

Indonesian fisheries minister arrested by anti-graft agency