1st February 2019
Standard Chartered has landed in trouble with US authorities after it was found to have failed to effectively supervise its forex (fx) business and ensure compliance with laws. On Tuesday, the New York Department of Financial Services (DFS) said it has fined the bank $40 million for attempting to rig… Read More
31st January 2019
A Louis Vuitton sales assistant at Selfridges, Manchester, has been jailed for two years and six months over her role in a scheme which involved using the stolen details of unsuspecting customers to make fake VAT claims and cash in on the refunds. The Salford-based woman copied the passport details… Read More
31st January 2019
Bangladesh will file a lawsuit in a U.S. court on Wednesday against Philippine bank Rizal Commercial Banking Corp (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said. In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal… Read More
31st January 2019
Saudi Arabia has ended a sprawling crackdown on corruption ordered by Crown Prince Mohammed bin Salman that it said had recovered more than $106 billion through settlements with scores of senior princes, ministers and top businessmen. Under the surprise campaign launched in November 2017, the government summoned 381 people, some… Read More
31st January 2019
AP – Police in Massachusetts are looking for a woman they say intended to rob a bank but got cold feet and left without a penny. Fall River police tell the Herald News the woman walked into the Fall River Municipal Credit Union on Monday afternoon… Read More
31st January 2019
The European Commission has written to authorities in Germany and France, as well as eight other countries, for failing to completely transpose the EU Fourth Anti-Money Laundering Directive (4AMLD) into national law. The directive introduces key changes in the fight against money laundering, such as implementing central registers… Read More
31st January 2019
A US court has ordered the owner of a company that ran a billion-dollar Ponzi scheme to pay a $100 million penalty and disgorge about $19 million in ill-gotten gains. The company and its 281 related firms were also ordered to pay $892 million in disgorgement. According to the… Read More
30th January 2019
The United Kingdom has dropped out of the league of top ten countries perceived to have the lowest levels of government corruption, while the United States has tumbled out of the top 20 states, according to the new Corruption Perception Index. The rankings, which list 180 countries and territories by… Read More
30th January 2019
Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. Of the $1.7 billion, the report, which looks at criminal activity in the digital currency market, said $950… Read More
30th January 2019
The United States imposed sanctions on Venezuela’s oil exports on Monday, a major escalation in its support for opposition leader Juan Guaido’s bid to oust socialist President Nicolas Maduro. Like many in the opposition and international community, Guaido says the May 2018 vote in which Maduro won a second term… Read More