US sanctions on Russia’s OFZ local debt come into force

The US sanctions imposed on April 15 that bar US investors from buying Russian Ministry of Finance ruble-denominated OFZ treasury bills in primary auctions come into force on June 14. The sanctions are the first to target Russian domestic debt, but are seen as largely symbolic,… Read More

Who is a PEP? Malta’s financial intelligence unit lists all government roles

The Financial Intelligence Analysis Unit has published a list of all government jobs whose authority and control on vast amounts of money and influence, qualifies them as political exposed persons (PEPs) The list, drawn up on advice of the National Co-ordinating Committee on Combating Money Laundering and Funding of Terrorism,… Read More

Australia: ClubsNSW threatens to try to force media to hand over emails with pokies whistleblower

New South Wales’ powerful club lobby is considering using the courts to force two journalists to hand over email communications they had with a poker machines whistleblower. ClubsNSW is also demanding that the whistleblower, Troy Stolz, set aside $150,000 from the sale of his house on the Central Coast to… Read More
11th March 2021
More than four in 10 cases of money mules involved victims aged 21 to 30, with the numbers rising last year, fraud prevention service Cifas said. Banks said criminals posted fake job adverts on social media, targeting “generation Covid” struggling for work. It is part of a wider trend of… Read More
25th December 2020
Fraud prevention organisation Cifas said fraudsters were sharing tips and getting more sophisticated in their attempts to steal money. Cases of a particular scam targeting shoppers, which often spikes at Christmas, have tripled this year. Criminals harvest personal information then buy items in someone else’s name. Dark tips The so-called… Read More
2nd November 2020
People who have lost their jobs are being targeted by adverts for work that would turn them unwittingly into money launderers for criminal gangs, the national fraud prevention service Cifas claims. Criminals are using social media to promote jobs that are presented as easy ways of making cash during the… Read More
13th May 2020
Criminals are exploiting the coronavirus pandemic to recruit money mules via social media to launder cash from human trafficking, terrorism financing or drug dealing, experts have warned. Social media mule recruitment is being ramped-up in recent weeks after legitimate sources of income, such as hospitality or retail work, dried… Read More
19th September 2019
Criminals are recruiting a rising number of teenagers to act as money mules to help them launder the proceeds of crime. The number of cases of 14 to 18-year-olds who have allowed their bank accounts to be used to divert funds has grown by 73% in two years. Banks are… Read More
30th August 2019
European banks are ramping up spending on the fight against financial crime, after a wave of money-laundering scandals on the continent. However, industry insiders betray little optimism about the impact it will have on crime, let alone on banks’ reputations. Rob Wainwright, a former head of Europol now working at… Read More
9th July 2019
Teenage “money mules” are on the rise, as criminals prey on millennials’ lack of financial know how, MPs have warned. There has been a 26 per cent increase in under 21-year-olds acting as money mules between 2017 and 2018, according to the fraud prevention service Cifas. This means… Read More
27th November 2017
KYC360 News There has been a stark leap in the number of 18-24 year olds acting as money mules, leaving many to face possible blacklisting from accessing student loans or mobile phone contracts According to statistics from anti-fraud groups, there has been a 75 per cent increase in… Read More
23rd August 2017
Identity theft has reached epidemic levels in the UK, with incidents of this type of fraud running at almost 500 a day, according to the latest figures. During the first six months of this year there were a record 89,000 cases of identity fraud, which typically involves criminals pretending to… Read More