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Featured Fraud

U.S. Targets Russian ‘Evil Corp’ Hacker Group With Sanctions, Indictments

The Trump administration Thursday placed a $5 million bounty on the leader of a Russian hacker group called Evil Corp for his alleged work for Moscow’s intelligence agency, part of what U.S. officials say is a broader reprisal for a Kremlin-directed cyber offensive against the U.S. The State Department’s action against Maksim Yakubets… Read More

Global web of firms for fraudsters created by British company Formations House

A global web of businesses, banks and tax havens used by international crime gangs and fraudsters has been created by a family-owned company in Britain, an investigation has revealed. Leaked documents show links to businesses set up by Formations House, a London-based company that establishes and helps to manage companies,… Read More

Pakistani tycoon agrees to hand over £190m to UK authorities

More than £190m of assets, including a £50m mansion overlooking Hyde Park in London, have been seized from a Pakistani property tycoon after a settlement in a UK police “dirty money” investigation. On Tuesday, the National Crime Agency said Malik Riaz Hussain had agreed to the multimillion-pound settlement that did… Read More

4th December 2019

Ukraine puts former Ferrexpo chief executive on international wanted list

Ukraine’s state prosecutor office said on Tuesday that Kostyantin Zhevago, the former chief executive of London-listed iron pellet producer Ferrexpo, had been put on an international wanted list. Prosecutors said in a statement they wanted to detain a former lawmaker and former beneficiary owner of Finance & Credit Bank. Tuesday’s… Read More

3rd December 2019

Najib Testifies to Defend Against 1MDB Corruption Charges

Malaysia’s former leader Najib Razak started his testimony to defend against allegations involving 42 million ringgit ($10 million) of bribes in a case involving a former unit of troubled state fund 1MDB. He read out his statement slowly in a packed courtroom in Kuala Lumpur on Tuesday. In his testimony,… Read More

3rd December 2019

EU pressures Malta over Bank of Valletta ‘golden passport’ clients

The European Commission has asked Malta to clarify how it intends to address Bank of Valletta’s shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called “golden passport” scheme. Malta, with a population of only 420,000, has sought to attract foreign capital with schemes… Read More

2nd December 2019

Vatican Posed Security Threat, Says Financial Watchdog After Suspension

An international network of financial watchdogs said the Vatican’s handling of confidential information posed “an evident security threat to our organization,” in a statement explaining why it suspended the Vatican from access to its information earlier this month. The Egmont Group, a Toronto-based network of more than 160 national… Read More

2nd December 2019

For Love and Money in Mozambique: How a Credit Suisse Banker Helped Fuel an Alleged $2 Billion Debt Fraud

Andrew Pearse said he negotiated his first bribe while sipping vodka at a hotel in Maputo, the capital of Mozambique, in February 2013. His employer, Credit Suisse Group AG, was financing a $370 million coastal security contract between Mozambique and Privinvest Group, a shipbuilder owned by Lebanese billionaire Iskandar… Read More

2nd December 2019

OECD Hails Global Anti-Tax Evasion Efforts as ‘Unprecedented Success’

Last week, the Global Forum on Transparency and Exchange of Information for Tax Purposes convened in Paris to discuss international efforts to advance tax transparency. Comprising 158 member jurisdictions, the Global Forum is an OECD initiative that works to address the risks to tax compliance posed by non-cooperative jurisdictions. “Ten… Read More

2nd December 2019

Anatomy of money laundering in B.C. real estate: 12 cases, $1.7 billion, 20 countries and 30 banks

It started with a huge hash bust. Following up on a tip, the RCMP set up a stakeout and pounced when a freight truck left a warehouse on Mitchell Island in Richmond. The haul: six tonnes of hashish (a drug made from the resin of cannabis), wrapped in cellophane and… Read More

29th November 2019

Ukraine’s central bank blames Kolomoisky for campaign of intimidation

Ukraine’s central bank has issued an unprecedented statement accusing local oligarch Ihor Kolomoisky, the former owner of nationalized lender PrivatBank, of orchestrating a campaign of intimidation against the institution and its staff. The National Bank of Ukraine (NBU) has been targeted by protesters accusing the bank’s management of corruption and… Read More

29th November 2019

Brazil’s top court eases access to confidential information in criminal probes

Brazil’s police and prosecutors can access confidential tax and financial information without a court order, the country’s Supreme Court ruled on Thursday, clearing the way for authorities to reopen an investigation of the president’s son. A majority of the high court’s justices voted to allow public prosecutors in financial crime… Read More

29th November 2019

After 3 years in exile, scandalous millionaire to return to Ukraine, face charges

The wanted runaway politician, businessman and equestrian Oleksandr Onyshchenko has said he is about to return to Kyiv on Dec. 13 to face down accusations of fraud and money laundering. “I believe it is time,” he told the Kyiv Post on Nov. 21. As proof, millionaire Onyshchenko sent the Kyiv Post his… Read More

Must Read

EU agrees steps toward tighter money-laundering supervision

Formations House leak shows need for reforms on creating companies, says anti-corruption chief

ING close to settling money-laundering probe in Italy: sources

Credit Suisse Blocks Prosecutor Using Critical Finma Report

€131m worth of suspicious transactions at Satabank