30th July 2020
The U.S. placed sanctions on a son of Syrian President Bashar al-Assad and a Syrian military unit in an effort by the Trump administration to pressure the country’s regime to end a civil war. Wednesday’s actions by the U.S. Treasury Department and the U.S. State Department, which included the blacklisting… Read More
30th July 2020
The Small Business Administration’s Inspector General raised serious concerns about potential rampant fraud in a federal disaster-loan program providing coronavirus relief. The inspector general’s office said in an alert Tuesday that it’s been “inundated” with complaints, including more than 5,000 instances of suspected fraud from financial institutions that received… Read More
29th July 2020
The government of the U.S. Virgin Islands is upping the ante in its quest to pierce the veil of secrecy that cloaked the life and wealth of financier Jeffrey Epstein, the deceased sex-offender who accrued a fortune of more than $650 million under mysterious circumstances. At least ten financial institutions… Read More
29th July 2020
Collapsed payments processor Wirecard AG miscoded gambling transactions and had high levels of stolen card purchases and reversed transactions, leading to hefty fines from card networks Visa Inc. and Mastercard Inc., according to people familiar with the matter. Visa and Mastercard each imposed fines exceeding $10 million… 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
28th July 2020
Senior members of Hong Kong’s government are facing account terminations at foreign banks following the passage of a US sanctions law aimed at officials in the city and mainland China, the Financial Times reported Monday. Bernard Chan, the non-official convener of Hong Kong’s Executive Council, told the newspaper that… Read More
28th July 2020
Syrian businessman Rami Makhlouf revealed on Sunday he had set up a web of offshore front companies to help President Bashar al Assad evade Western sanctions, in a social media post blasting the government for investigating his business empire. One of Syria’s richest and most powerful businessmen, Makhlouf said security… Read More
28th July 2020
Military contractors linked to the Kremlin have seized control of two of Libya’s largest oil facilities in recent weeks, heightening tensions between Russia and the U.S. over Moscow’s growing footprint in the turbulent North African nation. Since June, armed fighters from the Wagner Group, a Russian firm with ties to… Read More
28th July 2020
A top executive at a prominent Vancouver tech company has been arrested and charged with fraud for allegedly seeking millions of dollars through a U.S. government COVID-relief program and laundering the proceeds. Mukund Mohan, the chief technology officer of Vancouver-based BuildDirect, was arrested last week in Washington state, where he… Read More
28th July 2020
A Mastercard executive allegedly was involved in a money-laundering operation at a bank accused of terrorist financing and organised crime that had links to Wirecard, the disgraced German payments group. A report commissioned by the owners of FBME Bank in Cyprus uncovered evidence of apparent criminal activity, including an… Read More