10.20.20
6 money laundering reforms that experts say need to happen right now
Failures exposed by the FinCEN Files investigation require urgent intervention, regulators, experts and politicians say.
10.20.20
Rocklin business owners charged with laundering $1-plus million in drug money
A federal grand jury returned a two-count indictment Thursday against Daniel Stewart, 56, of Lincoln, and Luke Burroughs, 56, of Rocklin, charging them with money laundering and money laundering conspiracy, according to U.S. Attorney McGregor W. Scott.
10.20.20
Latvian regulators warn public about cryptocurrency fraud
Crypto remains underregulated, so Latvian investors need to be extra vigilant, says the FCMC.
10.20.20
US financial watchdog fines early Bitcoin mixer $60M for money laundering
FinCEN has fined the operator of early crypto mixers Helix and Coin Ninja for Bank Secrecy Act violations.
10.20.20
Embattled BitMEX hires chief compliance officer
On the heels of a CFTC enforcement action, cryptocurrency exchange platform BitMEX announced the appointment of Malcolm Wright as chief compliance officer of its operating company 100x Group.
10.19.20
Rapper who bragged about getting rich from an unemployment scam arrested for fraud
A rapper who made a music video to brag about getting rich from coronavirus unemployment benefits was arrested for fraudulently applying for more than $1.2 million in aid, the Justice Department announced Friday.
10.19.20
Crown Resorts facing AUSTRAC investigation over potential money laundering breaches
Crown Resorts is being formally investigated by the financial crimes watchdog over potential breaches of anti-money laundering laws in its flagship Melbourne casino.
10.19.20
Bill introduced to Congress aims to stop Hezbollah money laundering
The bill, if passed, would instruct the president to designate areas under Hezbollah control as "primary money laundering concerns."
10.19.20
Leonardo CEO found guilty of fraud in previous job
The CEO of Leonardo, Alessandro Profumo, has been found guilty by an Italian court for committing fraud in 2015 when he was at the helm of a major Italian bank, but he will keep his job, according to the company.
10.16.20
Chinese nationals laundered money and helped sell drugs for Mexican cartels, feds say
The six suspects made at least $30 million in an alleged scheme that involved funneling illicit drug money to the feared Sinaloa cartel, court documents say.
10.16.20
Wells Fargo Fires More Than 100 Employees Accused Of Coronavirus Relief Fraud
Wells Fargo has fired more than 100 employees, saying they personally defrauded a coronavirus relief program from the U.S. Small Business Administration.
10.16.20
'A fraud on the nation': critics blast Indian government's promotion of traditional medicine for COVID-19 By Priyanka PullaOct. 15, 2020 , 6:55 AM
The Indian health ministry has begun to recommend traditional remedies to tackle the country's COVID-19 outbreak, dismaying many Indian doctors and scientists.
10.16.20
Portland trading analyst, of Bath, charged with federal wire fraud
The FBI arrested David Altenburg on four counts of wire fraud Thursday morning in Bath; he reportedly wired more than $2.7 million from a financial firm in Portland.
10.16.20
DOJ charges Texas billionaire in $2 billion tax fraud scheme
Federal prosecutors have charged Texas billionaire Robert Brockman in a $2 billion tax fraud scheme that they say is the largest such case against an American
10.15.20
Prosecutors and Regulators Focus on Cryptocurrency Platforms and Anti-Money Laundering Requirements
Prosecutors and regulators are signaling an intent to expand accountability amongst cryptocurrency platforms under U.S. laws and regulations, including the Bank Secrecy Act (BSA).
10.15.20
New Zealand police arrest six over money laundering scheme that sent funds to China
Auckland police seized luxury vehicles including a Lamborghini Huracan, a boat, motorbikes and thousands in cash
10.15.20
Champion-Cain pleaded guilty to fraud in July but sentencing in Ponzi scheme now delayed until next year
Postponements in sentencing likely related to continued cooperation by the former restaurateur in an ongoing criminal probe of her fraudulent liquor license lending scheme
10.15.20
Cyprus: Anti-corruption protests after Al Jazeera passport expose
The protests followed repeated calls for Cyprus's second in command Demetris Syllouris to step down.
10.15.20
'So Hard To Prove You Exist': Flawed Fraud Protections Deny Unemployment To Millions
Fraudulent claims for unemployment benefits have been a problem for a long time, and states have set up systems to try to prevent such fraud. But lost in that effort is arguably a bigger problem: Some of those systems have hurt millions of innocent people, keeping the benefits they deserve in limbo.