27th May 2020
The so-called Vancouver model is an outlier in the history of Canadian crime, a criminologist told B.C.’s public inquiry on money laundering Tuesday. Stephen Schneider told the Cullen Commission of Inquiry into Money Laundering that this system for laundering illegal funds from China and revenue from drug trafficking is exceptional. “I’ve… Read More
27th May 2020
Authorities recently arrested an alleged member of the prolific hacking group known as Fin7, whose victims include Chipotle and other fast food restaurants, casinos, and credit unions, according to newly unsealed court records. The news signals a notch against one of the world’s most sophisticated and successful financially motivated hacking… Read More
26th May 2020
A public inquiry into money laundering in British Columbia has heard that cash is still king but cryptocurrencies and other virtual trade could rise as a trend. Criminology professor Stephen Schneider of St. Mary’s University in Halifax says games and other online platforms with many players are creating their own… Read More
26th May 2020
The “evil mastermind” and his crew “struck hard and quickly” to steal $24 million and launder it on currency exchanges. But the alleged ringleader did not look particularly like Tony Soprano. Ellis Pinsky was 15 years old, in high school and living at his mother’s house in a respectable area… Read More
25th May 2020
Payment companies are ramping up their processes to combat fraud and scams as regulators warn financial institutions of illicit activities related to the coronavirus pandemic. Compliance teams at companies such as PayPal Holdings Inc. and Western Union Co. have been closely monitoring early indicators of fraudulent activities and… Read More
25th May 2020
Papua New Guinea police have arrested former prime minister Peter O’Neill over the alleged purchase of generators from Israel without parliamentary approval. O’Neill was arrested on Saturday at the main airport of Port Moresby, PNG’s capital, after returning from Australia, and brought in for questioning, assistant crimes commissioner Hodges… Read More
25th May 2020
Thanks for the effort, but you really need to do better. Some EU countries are among the best in the world at implementing technical recommendations to combat money laundering, but this doesn’t necessarily lead to impressive results: In the bloc, only 1.1 percent of estimated illicit proceeds are seized by… Read More
22nd May 2020
When the authorities in Plumas County, California, inspected a new commercial hemp plantation in April 2019, they were so alarmed by what they found that they sought to impose a temporary moratorium on the emerging industry in unincorporated local towns. Greeted at the property by two armed guards with… Read More
20th May 2020
First Data Merchant Services LLC and a former executive agreed to pay more than $40 million to settle a claim by the Federal Trade Commission that the company processed payments and laundered credit card transactions for scams targeting hundreds of thousands of consumers. The agency alleged that ex-vice… Read More
20th May 2020
As millions of people around the United States scrambled in recent weeks to collect unemployment benefits and disbursements through the federal Cares Act, officials warned about the looming threat of Covid-19-related scams online. Now they’re here. On Thursday, the Secret Service issued an alert about a… Read More