Featured Identity Fraud

Why Some Banks Are Ditching Their State Regulators

A national bank regulator is trumpeting his agency’s oversight as a good business proposition. Banks are taking him up on it. Fifth Third Bancorp is the latest company to seek supervision from Trump-appointed regulators who have struck a friendlier tone with the industry. The Office of the Comptroller of… Read More

UK SARs Regime Falls Short of Effective Reporting: Law Commission

British financial institutions are filing high volumes of low-quality suspicious activity reports (SARs) and are in need of further guidance on their compliance obligations, according to a report published Tuesday by the Law Commission. The study, which was conducted at the behest of the UK Home Office, concluded that only… Read More

Bipartisan Senate Group Backs Wide-Ranging AML Bill

It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More
7th June 2019
Tens of thousands of people are expected to take to the streets of Hong Kong on Sunday in a bid to block changes to the Chinese-ruled city’s extradition laws, which could pave the way for fugitives wanted by mainland China to be sent across the border for trial for the… Read More
6th June 2019
An opposition politician has collected 680,000 signatures to push for Hungarian membership of a planned European Union prosecutor’s office (EPPO), a step rejected by Budapest’s eurosceptic nationalist government. Due to be launched in 2020, the EPPO will be geared to investigating and pressing criminal charges in cases crossing borders of… Read More
4th June 2019
Hong Kong will make concessions to a controversial extradition bill, Security Secretary John Lee said on Thursday, but opposition lawmakers called for the legislation, which they fear will extend Beijing’s reach into the city, to be scrapped. Various groups in Hong Kong, including democracy activists, have objected to the proposals,… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
10th May 2019
A German woman who posed as a wealthy heiress to scam boutique New York hotels and fashionable friends was sentenced to four to 12 years in prison on Thursday after a jury in state court found her guilty of fraud last month. Anna Sorokin, 28, faced up to 15 years… Read More
29th April 2019
An uptick in white-collar prosecutions by the Trump administration could bring relief to high-end defense lawyers, who have been searching for work after years of declining federal prosecutions. Many white-collar lawyers have been fretting about their caseloads since the Trump administration took charge of the U.S. Department of Justice, worrying… Read More
26th March 2019
UK officials are warning of a sharp uptick in crooks posing as law enforcement officials in phone scams that have netted hundreds of thousands of pounds. The fraudsters, who pretend to be officers of the National Crime Agency (NCA) and cite accurate information about the governmental body, have primarily targeted… Read More
14th March 2019
“Full House” actress Lori Loughlin appeared in federal court in Los Angeles on Wednesday to face charges of taking part in a scheme in which dozens of wealthy parents are accused of paying for their children to cheat their way into prestigious U.S. universities. U.S. Magistrate Judge Steve Kim ordered… Read More
28th January 2019
A former RBS employee has been jailed for 30 months over a scam in which he tried to bribe his colleagues in an attempt to swindle hundreds of thousands of pounds from the bank. Using his inside knowledge, Dilbaagh Singh-Derewal and an associate asked two ex-colleagues who still worked… Read More
6th December 2018
European lawmakers on the Civil Liberties (LIBE) Committee have approved plans for a new single identity card to be adopted by member states in an effort to improve ID card security and curb document fraud, which is estimated to cost the bloc €2 billion annually. There are currently at… Read More