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Biden Sanctions Russia, Restricts Buying New Debt After Hacking

President Joe Biden ordered fresh sanctions on Russia, including restrictions on buying new sovereign debt, in response to allegations that Moscow was behind a hack on SolarWinds Corp. and interfered with last year’s U.S. election. The new measures sanction 32 entities and individuals, including government and intelligence officials,… Read More

City of London calls for ‘paradigm shift’ in compliance tech at banks

Britain’s financial firms and regulators should step up the use of technology to cut the cost of compliance and make the City of London more globally competitive, a report said on Friday. The report from the corporation that runs London’s “Square Mile” financial district called for the removal of barriers… Read More

IRS is probing the dark web to look for cryptocurrency and NFT tax evasion, says commissioner

Tax evasion using cryptocurrencies is “replicating” with nonfungible tokens and other new crypto-related products, according to IRS Commissioner Charles Rettig. In testimony before the Senate Finance Committee, Rettig said Tuesday the U.S. fails to collect as much as $1 trillion in taxes owed each year in part due to… Read More

16th April 2021

What’s at Stake in the U.S. Case Against a Crypto Rebel

Ever since Arthur Hayes became a star in the Bitcoin universe, he’s been called many things, from trailblazer to anarchist. On April 6 the former chief executive officer of crypto exchange BitMEX surrendered to U.S. authorities in Hawaii to face a more consequential label: alleged criminal. Six months… Read More

16th April 2021

Iranian Opposition Group Members Charged In Denmark With Financing Terrorist Activity

Denmark’s public prosecutor has charged three members of an Iranian Arab opposition group with financing and supporting terrorist activity in Iran and aiding Saudi intelligence services. “This is a very serious case, where people in Denmark have carried out illegal intelligence activities and financed and promoted terrorism from Denmark in… Read More

16th April 2021

Ireland: Bribes and blackmail uncovered as former bank worker arrested in major fraud probe

Fraud squad detectives encountered a sinister blackmail plot when they launched an investigation into a former employee of the Central Bank, who allegedly committed fraud crimes after he set up a business to help clients apply for bank licences. The former Central Bank employee, who is in his 40s, was… Read More

16th April 2021

The mysterious case of the $571m Manchester ‘Bitcoin scam’

The US’s commodities watchdog is on the hunt for a Manchester man it claims is the mastermind behind a Bitcoin scam that swindled thousands of victims and owes $572m (£416m). The regulator is facing a major obstacle, however, as their suspect, Benjamin Reynolds, 38, appears to have vanished without a… Read More

16th April 2021

Singapore Trader’s Lavish Lifestyle Allegedly Fueled By $740 Million Fraud

At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-story villa in a posh Singapore neighborhood and a Pagani Huayra supercar reportedly worth more than $5 million. Local prosecutors allege Ng also had a dark secret: His lavish… Read More

16th April 2021

Brazil’s Emerald Exports – The Latest Revelations About Dario Messer

By Chris Dalby, InSight Crime, 14 April 2021 InSight Crime – Dario Messer, the notoriously prolific money launderer, was able to move millions of dollars through Brazil’s emerald mining industry, adding yet another scheme to his laundry list of illicit financial dealings. An investigation by Brazilian… Read More

16th April 2021

Accountant jailed for ‘industrial scale’ £1.4m fraud

An accountant who committed “industrial scale dishonesty” to fund a lavish lifestyle has been jailed. Steven Day, 51, of Perthshire, Scotland, plundered £1.4m from firms and defrauded the NHS. The court heard he targeted a female friend in a £4,500 romance fraud and lied about his mother dying and having… Read More

16th April 2021

Mystery man who used fake passport to buy gold bars wins access to £160k fortune

When an American man claimed in 2018 he was the true owner of around £160,000 worth of gold bars stored in a Swiss vault, alarm bells rang. There were two things wrong: this mystery man had a different name to the registered owner and seemed to look almost completely different. Read More

16th April 2021

BNF Bank distances itself from former manager facing money laundering charges

BNF Bank has distanced itself from a former manager who faces money laundering charges. Albert Buttigieg has been charged in court together with and ex-footballer Darren Debono’s step-daughter Florinda Sultana, who fronted companies that manage two fish restaurants allegedly involved in laundering money linked to oil… Read More

15th April 2021

EU announces five-year roadmap to fight dirty money, human trafficking

The European Union will seek to increase police cooperation, target human trafficking and establish new rules to counter money laundering, according to plans detailed by the European Commission on Wednesday. The EU executive set out a five-year roadmap of legislative proposals and initiatives designed to combat organised criminal gangs, who… Read More

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