6th August 2020
Interpol has released a report revealing a “significant target shift” of cybercrime from individuals and small businesses to major corporations, governments and critical infrastructure, underscoring the impact of Covid-19. “With organisations and businesses rapidly deploying remote systems and networks to support staff working from home, criminals are also taking advantage… Read More
6th August 2020
Even if the pace at which regulations are drafted seems to be slowing down, at least at the EU-level, regulations in general are still trending toward bullish proliferation. In the financial-crime field alone, around 1,300 binding pieces of legislation have been brought to light in the span of 20 years… Read More
4th August 2020
Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF). A broad range of entities operating in Africa,… Read More
30th July 2020
For those that have long railed against the UK’s role as a global hub for money laundering and illicit finance, when it finally emerged last week, the Intelligence and Security Committee’s Russia Report did not disappoint. It contained a full house of elements that have led many to brand… Read More
29th July 2020
As consumers increasingly turn to online shopping for essential and non-essential goods while at home, fraudsters have adapted their technique to use more sophisticated tactics against consumers, banks and merchants. The situation is tenuous. A recent study from Forter shows fraud attacks increased by 19 percent, globally, from 2018 to… Read More
29th July 2020
Five core members of a transnational online credit-card fraud syndicate, believed to be operating from Hong Kong, were arrested this month by the Hong Kong Police Force (HKPF). The syndicate allegedly used credit card details, which were stolen via phishing emails from cardholders in Singapore, to make a series of… Read More
21st July 2020
OCCRP – A new project that will be led by Europol and financed by the European Commission will help the EU’s eastern neighbours — Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine — fight organized crime. “Located along the Black Sea and forming part of the ‘heroin route’ from the… Read More
17th July 2020
UBS will no longer be informed or be able to contest customer data the Swiss tax authorities hand over to counterparties in France investigating alleged tax avoidance, a Swiss court said on Wednesday. Switzerland’s Federal Administrative Court upheld a decision to revoke UBS’s position as a party to the arrangements over… Read More
16th July 2020
A long-awaited advisory from the US’ Office of Foreign Assets Control (OFAC) has changed the rules of the game for maritime trade. The sanctions regulator – which sits within the Department of the Treasury and has the power to hand out multi-billion dollar fines to entities anywhere in the world… Read More
15th July 2020
Streamlining anti-money laundering checks, longer central bank opening hours and linking national systems would cut cross-border payment costs, global regulators said on Monday. Payments have come under the spotlight since Facebook proposed its Libra digital stablecoin, prompting central banks to think about launching their own digital currency. A report by… Read More