BSA News Now

Money laundering (also known as "money mule") scams have been around for a long time, but have been gaining in frequency during the Covid-19 pandemic. That's because many of us are quarantined at home, spending more time online, where many of these scammers prey.

When the economy is disrupted, fraud goes up, so let's not ignore the lessons we can learn from previous downturns.

An Atlanta film producer has been indicted on federal charges connected to a cryptocurrency investment scheme. He's accused of raising millions from investors and spending the money on personal items and using several others including Atlanta rapper T.I. to help promote his business.

Gov. Gavin Newsom said Wednesday that he was aware of the likelihood of fraudulent claims and that the state was investigating them.

The use of cryptocurrencies is increasing around the world. While the flow of these assets is not managed by individual governments or central banks, authorities are considering tightening rules as the risk of cryptocurrencies being used in money laundering and to fund crime are increasing.

Federal law enforcement authorities have charged 57 people with stealing $175 million from an aid program meant to help small businesses weather pandemic lockdowns, officials said on Thursday, adding that they are eyeing hundreds more suspected cases of fraud.

NFL wide receiver Joshua Bellamy is facing a slate of fraud charges for allegedly participating in a scheme to use coronavirus relief funds for personal use, the Justice Department said Thursday.

Three South Carolina residents and four Georgians were charged this week with conspiracy to commit wire fraud and conspiracy to commit money laundering in a major scheme involving a casino, drugs, and stealing hundreds of thousands through a Paycheck Protection Program (PPP) loan, U.S. Attorney for South Carolina Peter M. McCoy announced Thursday.

Investors in EverC, formerly called EverCompliant, include Israeli VC Red Dot Capital Partners, Viola Ventures, Arbor Ventures, and American Express Ventures

Seven people have been arrested and charged in connection to a money laundering scheme involving funds from the Paycheck Protection Program, according to the U.S. attorney's office.

After loaning out more than $160 billion over the course of several months, the Small Business Administration (SBA) scrambled in late July and August to stop fraud from consuming its Economic Injury Disaster Loan program, internal agency emails obtained by the Project On Government Oversight (POGO) show.

For months, President Donald Trump has tried to convince Americans that the Nov. 3 election will be "rigged," claiming without evidence that mail voting will open the door to mass cheating.

The EU plans to close the legislative and technical loopholes that allow money laundering to remain rampant in many EU states, Raluca Pruna, the head of the European Commission's Financial Crime Unit, said in an interview with AML intelligence last week.

Former Volkswagen (VOWG_p.DE) Chief Executive Martin Winterkorn will face charges of conspiracy to commit organized commercial fraud with a high likelihood of conviction, a court probing the carmaker's diesel emissions scandal said on Wednesday.

A new report explores how cyber criminals, who steal from banks, can cash out and launder the money so that it cannot be traced.

A federal prosecutor is urging a judge to show no mercy to a former manager of a West Shore bank branch who used her position to commit a $379,000 loan scam.

The now ex-wife of a Utah rare coin dealer accused of stealing tens of millions of dollars in a silver trading scam told a federal judge Tuesday that she had no idea what her husband was doing until a month before authorities shut down their business.

A New Bern doctor convicted last year by a federal jury on charges he ran an illegal oxycodone distribution practice has been sentenced to decades behind bars.

US financial behemoth JPMorgan Chase said Tuesday it was working with authorities after learning of unethical conduct by customers and employees connected to huge government pandemic relief programs.

According to Goodhart's Law, as soon as a measure becomes a target, gaming ensues, which undermines its function as a measure...