10th July 2020
The City regulator has warned non-bank payments businesses that serve millions of consumers and small businesses that they face a crackdown over a series of failings. The Financial Conduct Authority told chief executives of regulated payment service providers and electronic money businesses that they must strengthen the way in… Read More
10th July 2020
By David Leask and Richard Smith, openDemocracy, 8 July 2020 openDemocracy – COVID is killing cash. Even as lockdowns loosen, consumers are turning away from notes and coins like never before. A survey in April found four out of five Britons – many forced to do all their shopping online… Read More
9th July 2020
The Justice Department is examining whether scandal-plagued German payment company Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation. Two businessmen have already been charged in the alleged fraud, accused of… Read More
8th July 2020
By Anastasia Austin, InSight Crime, 7 July 2020 InSight Crime – A criminal group in Argentina has found a novel target for extortion: black market currency dealers who are moving large amounts of cash to dollar-hungry Argentines in an economy hit hard by the pandemic. Known as “cuevas,” or… Read More
7th July 2020
Mastercard was warned about Wirecard’s links to an alleged laundering network in 2016, The Times can reveal. The payments group was handed details of Wirecard’s alleged links to a scheme that used bogus online stores to disguise the processing of high-risk payments, and Mastercard executives privately admitted to concerns about… Read More
3rd July 2020
The City regulator was warned last year that Wirecard was allegedly linked to a scheme that used fake online stores to disguise the processing of high-risk payments. The Financial Conduct Authority was given details of an operation whereby allegedly bogus ecommerce sites were used as a front for channelling online… Read More
2nd July 2020
Analysts have used other evidence to conclude that the transfers were most likely part of an effort to offer payments to Taliban-linked militants to kill American and coalition troops in Afghanistan. American officials intercepted electronic data showing large financial transfers from a bank account controlled by Russia’s military intelligence agency… Read More
2nd July 2020
Halkbank will ask the U.S. judge overseeing a criminal case accusing it of helping Iran evade American sanctions to recuse himself, a lawyer for the Turkish bank said on Tuesday. The lawyer, Robert Cary, notified U.S. District Judge Richard Berman of Halkbank’s intention at a hearing, without providing a reason. Read More
2nd July 2020
The global watchdog against money laundering and terrorist financing is seeking input on how to prevent the spread of weapons of mass destruction as Germany assumes its two-year presidency of the organization. In an announcement following the final plenary meeting under Chinese President Xiangmin Liu, the Financial Action Task… Read More
1st July 2020
When customs agents in Riga followed a tip and searched passengers arriving on a private jet from Ukraine last year, they hit the jackpot. Luggage belonging to the four travelers contained about $1 million in U.S. and European banknotes. The contraband was seized. Latvia, a European Union and euro-area… Read More