The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.
1st December 2020
The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.
By Will Fitzgibbon, ICIJ, 30 November 2020 ICIJ — JPMorgan Chase, America’s largest bank, helped move millions of dollars for a New Jersey con man long after he was first accused of ripping off customers looking for good deals on the used cars of their dreams. Many borrowed from… Read More
Shehbaz’s family members declared absconders in money laundering case
27th November 2020
Shehbaz’s family members declared absconders in money laundering case
An accountability court in Lahore on Thursday declared family members of Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif absconders in a money laundering reference. The accused include the PML-N’s president’s wife Nusrat Shehbaz, son Salman Shehbaz, daughter Rabia Imran and son-in-law. They did not appear before the court despite repeat… Read More
Synthetic identity fraud worrying U.S. regulators
25th November 2020
Synthetic identity fraud worrying U.S. regulators
Synthetic identity fraud, one of the fastest-growing financial crimes in the United States, has become an increasing concern for regulators, as banks struggle to find common ways of tackling the innovative theft technique that combines real and fictitious data about individuals. Estimates over the scale of the fraud vary, but nearly… Read More
Privacy coins no more? CipherTrace files patents for tracing Monero transactions
24th November 2020
Privacy coins no more? CipherTrace files patents for tracing Monero transactions
Crypto analytics firm CipherTrace announced on Friday that it had filed two patents for technology capable of tracing transactions for privacy coin Monero. In a Nov. 20 blog from CipherTrace, the firm stated that the patents would include forensic tools to explore Monero (XMR) transaction flows to assist in financial… Read More
Philippines: AMLC urges vigilance as suspicious money transactions surge
24th November 2020
Philippines: AMLC urges vigilance as suspicious money transactions surge
The Anti-Money Laundering Council (AMLC) urged financial industry stakeholders to remain cautious and vigilant amid rising evidence that criminal elements may be abusing digital platforms that are now seeing greater adoption due to the pandemic. AMLC Chair and Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said proper know-your-customer and customer… Read More
India: Former Congress MLA Roshan Baig Arrested In Ponzi Scam Case
24th November 2020
India: Former Congress MLA Roshan Baig Arrested In Ponzi Scam Case
Roshan Baig, a former Congress minister in Karnataka, was on Sunday arrested by the CBI in connection with the ₹ 4,000-crore IMA ponzi scam. He was produced in a court and sent to 14-day judicial custody. Roshan Baig was summoned to the CBI office and based on “material evidence”, he… Read More
Suicide, money laundering and match-fixing: the US$4.2 billion scourge of illegal gambling in Asia
20th November 2020
Suicide, money laundering and match-fixing: the US$4.2 billion scourge of illegal gambling in Asia
Illegal gambling will continue to drive people to suicide and facilitate money laundering and match-fixing unless government action is taken, warns the Asian Racing Federation. In a research paper, the ARF’s anti-illegal betting task force outlines the widespread damage as illegal gambling grows at a quicker rate than the legal… Read More
Why FinCEN wants details on all cross-border transactions over $250
18th November 2020
Why FinCEN wants details on all cross-border transactions over $250
U.S. regulators are discussing the “why” of a new proposal that has crypto fans concerned. Speaking Monday at the V20 Virtual Asset Service Providers Summit, Carole House, cyber and emerging tech policy specialist at the Financial Crimes Enforcement Network (FinCEN), said criminals are conducting cross-border payments using smaller amounts… Read More
Australian accused of promoting alleged $US2.5b BitConnect Ponzi scheme charged
18th November 2020
Australian accused of promoting alleged $US2.5b BitConnect Ponzi scheme charged
The Australian man accused of running the local arm of an alleged cryptocurrency Ponzi scheme that torched $US2.5 billion ($3.4 billion) of investment worldwide has been charged with offences that carry jail terms of up to ten years. John Louis Anthony Bigatton, first reported in early 2019 by The Age and The Sydney… Read More
Swiss to ban deducting bribes from taxes starting in 2022
13th November 2020
Swiss to ban deducting bribes from taxes starting in 2022
Swiss companies will no longer be able to deduct bribes paid to private individuals from their taxes, Switzerland’s government said on Wednesday, according to an update of tax laws due to take effect on Jan. 1, 2022. Beyond bribes, costs from financing criminal activities or money paid in return for… Read More
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