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04.29.20

Malaysia is Looking for ex-CEO Wanted for Money Laundering

Malaysian authorities have on Monday asked the public as well as Interpol for help in locating the ex-CEO of Asia Media, Wong Shee Kai, commonly known as Ricky Wong, who is suspected of money laundering and terrorism financing.



04.29.20

ICE HSI launches online resource page to combat COVID-19 fraud

Immigration and Customs Enforcement's (ICE) Homeland Security Investigations (HSI) launched a dedicated "Operation Stolen Promise" web page Monday to provide information to the public on COVID-19-related fraud schemes



04.29.20

Swiss Money-Laundering Tip-Offs Jump by a Quarter

Until November last year, Swiss authorities received 7,705 reports about possible money laundering, an increase in reports by 25 percent on the previous year, the Federal Money Laundering Reporting department, MROS, said in its annual report.



04.29.20

A California Pair Have Been Arrested And Charged With Fraud Over A Multimillion-Dollar Face Mask And Respirator Deal

The men even went so far as to seal and shrink-wrap empty boxes, slapping fake 3M labels on some, federal officials said.



04.28.20

Global Cost of Financial Crime Compliance Over $180 Billion, Report Reveals

The projected total cost of financial crime compliance across the global finance sector amounts to around $180.9 billion, a new report by legal research and risk solutions firm LexisNexis Risk Solutions reveals.



04.27.20

Amazon tests screening new merchants for fraud via video calls in pandemic

Amazon.com Inc (AMZN.O) is piloting the use of video conference calls to verify the identity of merchants who wish to sell goods on its websites, in a new plan to counter fraud without in-person meetings in the pandemic, the company said on Sunday.



04.27.20

Crypto Industry Divided Over Introducing Circuit Breakers on Exchanges

Since the inception of Bitcoin, volatility has been a part of the cryptocurrency narrative even before exchanges and the current mainstream mentions.





04.27.20

Raymond James Sues Insurers for $60 Million Over Broker's Fraud

Raymond James Financial is suing four insurance companies for $60 million of fidelity bond coverage related to the Jay Peak ski resort fraud that has cost it more than $150 million.



04.24.20

State Unemployment Systems at High Risk of Fraud, Watchdog Says

The need for states to rapidly provide jobless benefits during the coronavirus pandemic will expose the federal-state unemployment insurance system to greater fraud and waste, the Labor Department's independent watchdog warned in a new report.



04.24.20

EXTORTION AND MONEY LAUNDERING LAND DICTATOR'S DAUGHTER IN JAIL

A president's daughter gets an important government job, becomes an omnipresent style icon, a businesswoman (whose success depends upon rampant labor abuses among other things), and philanthropist, and looks to a future in politics.



04.24.20

Record year for money laundering tip-offs

The number of reports of suspected money laundering jumped by about 25% in Switzerland last year.



04.24.20

FBI raids Detroit-area medical spa amid accusations of coronavirus treatment fraud

FBI agents raided the Allure Medical Spa on Thursday amid accusations the Macomb County facility was offering fraudulent treatments for COVID-19 and other virus-related issues.



04.24.20

Community Fraud Site Tracks 8.5M XRP Lost to Giveaway Scams

A community site set up to combat XRP fraud claims holders have lost 8.5 million tokens to fake airdrops and YouTube giveaway scams since 2019.



04.23.20

ClubsNSW sues its former employee who blew the whistle on pokies money laundering

Troy Stolz, the whistleblower who exposed a widespread lack of anti-money laundering compliance around poker machines in registered clubs, is being sued by ClubsNSW.



04.23.20

FFIEC Updates Its Bank Secrecy Act/Anti-Money Laundering Examination Manual

On April 15, 2020, the Federal Financial Institutions Examination Council (FFIEC) released an updated version of certain portions of its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (BSA/AML Manual)...



04.23.20

Michael Novogratz: This is Bitcoin's "moment"

A colossal stimulus package in the US presents a compelling case for Bitcoin ahead of its halving, says the CEO of Galaxy Digital.



04.23.20

Coronavirus Fuels Explosive Growth In Telehealth - And Concern About Fraud

On March 17, Medicare chief Seema Verma stepped to the podium at a White House coronavirus briefing and unveiled a "historic action" to promote virtual medical care, or telehealth.



04.23.20

Here's How Human-like Bots Perform Online Fraud

In 2019, login pages were the prime target of fraudsters across different verticals



04.22.20

Anti-Money Laundering: What You Need to Know Now About the Updated BSA/AML Examination Manual

In case you missed it, there is now a revised examination manual for Bank Secrecy Act/Anti-Money Laundering compliance.



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