Featured

Millions vanish into crypto world in high-yield bond scam

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands. The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run… Read More

Credit Suisse Missed Many Warnings Before Greensill’s Collapse

Long before Credit Suisse Group AG was forced to wind down a $10 billion group of funds it ran with financier Lex Greensill, there were plenty of red flags. Executives at the bank knew early on that a large portion of the assets in the funds were tied to… Read More

John McAfee charged with fraud over alleged cryptocurrency scheme

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money laundering conspiracy charges stemming from two cryptocurrency schemes, the US Department of Justice said on Friday. Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr, of exploiting McAfee’s large… Read More
8th March 2021
Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands. The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run… Read More
3rd March 2021
The U.S. Treasury Department’s financial crimes unit is focused on acquiring the resources it needs to implement sweeping new anti-money-laundering reforms—in a way that doesn’t unnecessarily burden the financial industry, its director said. Putting into practice the anti-money-laundering legislation, which was passed in January as part of an annual… Read More
2nd March 2021
Too few Swiss companies are made to answer for corruption or money laundering offences, exposing gaps in current legislation, says the Swiss chapter of campaigning NGO Transparency International. The law was changed in Switzerland in 2003 to make firms criminally liable if they fail to take reasonable steps to prevent… Read More
1st March 2021
A Russian hacker stole the identities of 22 of 75 living U.S. Congressional Medal of Honor recipients, using their pilfered personal data to buy tens of thousands of dollars worth of Apple products and luxury watches from American military exchanges, according to a Secret Service search… Read More
1st March 2021
The Anti-Money Laundering Council (AMLC) has relaxed the registration guidelines for Philippine offshore gaming operators (POGOs) as well as real estate developers and brokers. The guidelines were eased as real estate developers and brokers as well as POGOs only have until March 16 to register with the AMLC. These entities… Read More
26th February 2021
By Will Fitzgibbon, ICIJ, 25 February 2021 ICIJ — A powerful international organization whose members represent the world’s largest economies has issued a strong warning about the “threats and risks” posed by lawyers, accountants and other facilitators who help their clients commit and conceal financial crimes. Read More
25th February 2021
On December 20, 2020, the Financial Crimes Enforcement Network (FinCEN), the U.S. Financial Intelligence Unit (FIU) and primary anti-money laundering (AML) regulator, published a Notice of Proposed Rulemaking (NPRM) that sought to impose new recordkeeping and reporting requirements on virtual currency transactions. The NPRM was met with a torrent of… Read More
25th February 2021
Billions of people around the world are being trapped in poverty by systemic tax abuses, corruption and money laundering, according to a UN commission report calling for a global crackdown. The UN panel on financial integrity for sustainable development urged governments to overhaul tax rules and the banking system… Read More
22nd February 2021
A new report out today by international NGO, Global Witness, says Libya appears to be losing millions of dollars a year through fraudulent use of its Letters of Credit (LC) system, run by the Tripoli Central Bank of Libya. The report says these deals are passing through correspondent banks in… Read More
18th February 2021
Cisco Systems Inc. is investigating an alleged embezzlement scheme by former employees in China that may have involved payments to Chinese state-owned firms, the company said. The networking-equipment firm voluntarily disclosed the matter to the U.S. Department of Justice and U.S. Securities and Exchange Commission, Cisco said in a… Read More