2nd December 2019
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
22nd November 2019
“At the moment, money is still winning,” says Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ) in response to a question on whether money or truth is more powerful.  But that’s not to say financial crooks are particularly comfortable in the age of data leaks,… Read More
20th November 2019
An international network of financial watchdogs has suspended the Vatican’s access to its information, dealing a major blow to the Vatican’s financial credibility under Pope Francis. The Egmont Group, a Toronto-based network of more than 160 national financial intelligence units around the world, has decided to suspend the Vatican watchdog… Read More
19th November 2019
Cayman National Bank has announced that its subsidiaries in the Isle of Man were hacked by a well known hacking group on Sunday. Although the bank has not named that group, it appears from European media that it was Phineas Fisher, an infamous, anti-capitalist vigilante hacker group that targets… Read More
14th November 2019
Google is taking its deepest dive yet into the financial lives of its users with plans to roll out a checking-account service. Citigroup Inc. and a California credit union are the tech giant’s initial partners for the venture, which will let users access their bank accounts through the Google… Read More
14th November 2019
The Financial Action Task Force (FATF) will “hold governments to account” for failing to crack down on the criminal exploitation of corporate formation laws, the head of the intergovernmental group said Wednesday. In an editorial published in the Financial Times, FATF President Xiangmin Liu called on nations to immediately… Read More
13th November 2019
Altair Engineering Inc. may have violated U.S. economic sanctions and export control regulations, the company said in a regulatory filing. The Troy, Mich.-based engineering software company said it discovered the possible violations in May and disclosed them to regulators, according to the company’s latest quarterly financial report, which was… Read More
12th November 2019
AP — On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker network had likely been spying on his communications… Read More
11th November 2019
The IRS’s criminal division identified “dozens” of potential cryptocurrency tax evaders or cybercriminals after a meeting this week with tax authorities from four other countries. Officials from the U.S., U.K., Australia, Canada and the Netherlands — known as the Joint Chiefs of Global Tax Enforcement — shared data, tools and… Read More
4th November 2019
A recent joint report by the European Banking Authority (EBA), the European Securities & Markets Authority and the European Insurance and Occupational Pensions Authority (the Joint Supervisory Authorities, or JSAs) has highlighted current money laundering and terrorist financing risks to the EU’s financial sector participants. Transaction monitoring and suspicious… Read More