Anti-Fraud Measures in Relief Plan Seek to Aid Vulnerable Firms
24th December 2020
Anti-Fraud Measures in Relief Plan Seek to Aid Vulnerable Firms
The new $284 billion lifeline for small businesses approved by Congress features anti-fraud and other measures that advocates say will give some of the most vulnerable employers a better shot of getting some help. The renewal of the Paycheck Protection Program included in the Covid-19 relief package that passed in… Read More
Trump’s Longtime Banker at Deutsche Bank Resigns
23rd December 2020
Trump’s Longtime Banker at Deutsche Bank Resigns
President Trump’s longtime banker at Deutsche Bank, who arranged for the German lender to make hundreds of millions of dollars of loans to his company, is stepping down from the bank. Rosemary Vrablic, a managing director and senior banker in Deutsche Bank’s wealth management division, recently handed in… Read More
Italian police accuse cryptocurrency exchange boss of huge fraud
23rd December 2020
Italian police accuse cryptocurrency exchange boss of huge fraud
Italian police said on Monday a man who ran a cryptocurrency exchange that was declared bankrupt last year is suspected of being responsible for a series of hacks that caused losses of 120 million euros ($146 million). More than 230,000 people were defrauded by the cyber-theft of a cryptocurrency called… Read More
NY Pharmacy Owners Charged in $30 Million COVID-19 Fraud and Money Laundering Scheme
23rd December 2020
NY Pharmacy Owners Charged in $30 Million COVID-19 Fraud and Money Laundering Scheme
Pharmacy owners Peter Khaim and Arkadiy Khaimov of Forest Hills, New York took advantage of changes in the Medicare system effected by the COVID-19 pandemic in order to illicitly obtain over $30 million, according to an indictment unsealed Monday by the U.S. Department of Justice. Khaim and Khaimov were able… Read More
A Massive Fraud Operation Stole Millions From Online Bank Accounts
22nd December 2020
A Massive Fraud Operation Stole Millions From Online Bank Accounts
Trusteer say they’ve uncovered a massive fraud operation that used a network of mobile device emulators to drain millions of dollars from online bank accounts in a matter of days. The scale of the operation was unlike anything the researchers have seen before. In one case, crooks used about 20… Read More
Italian ‘Casanova’ online gang broken up in Turin
22nd December 2020
Italian ‘Casanova’ online gang broken up in Turin
A gang of fraudsters who won their way into women’s hearts posing as pilots, sea captains, Interpol officials and military personnel has been broken up after a three-year operation, Italian police say. “Operation Casanova” targeted 19 suspects behind an online dating scam in which victims were promised love and marriage… Read More
22 luxury apartments seized from Canadian in Dominican Republic
22nd December 2020
22 luxury apartments seized from Canadian in Dominican Republic
The Specialized Anti-Money Laundering and Terrorist Financing Prosecutor’s Office, together with the Administration and Custody of Seized Assets Unit of the Attorney General’s Office, seized 22 luxury apartments in Boca Chica, acquired with money from the millionaire Ponzi scheme that defrauded some 600 people in Canada. The apartments, which are… Read More
Why esports are the new frontier for matchfixers
21st December 2020
Why esports are the new frontier for matchfixers
The number of cases of suspected match-fixing in esports has more than doubled in 2020 amid fears that Covid-19 has contributed to a surge in corruption in competitive video gaming. Criminal gangs – including mafia groups and Chinese triads – are among those orchestrating corruption in esports. Esports – competitive… Read More
US sanctions tech company for aiding Maduro election gambit
21st December 2020
US sanctions tech company for aiding Maduro election gambit
AP — The Trump administration has imposed sanctions on an Argentine-owned technology company for helping Nicolás Maduro carry out recent legislative elections boycotted as fraudulent by the U.S.-backed opposition. The Caracas-based Ex-Cle CA provided the Maduro government with voting machines as well as software for this month’s vote, according… Read More
China’s Luckin Coffee to pay $180 million fine in fraud case
18th December 2020
China’s Luckin Coffee to pay $180 million fine in fraud case
AP — China’s Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges, the Securities and Exchange Commission says. The SEC charged the company with defrauding investors by misstating its revenue, expenses, and net operating loss to appear to have been… Read More
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