Geek Group leaders charged with illegal Bitcoin trade, money laundering

The president and a board member of the now-closed Geek Group, as well as a consultant, have been indicted in a federal money laundering case for allegedly illegally buying and selling Bitcoin.


UPDATE 2-Britain's financial watchdog must act faster in fraud cases, says boss

Britain's financial watchdog must act faster on scams, its chair said on Monday as he announced that senior officials face pay cuts and no bonuses following criticism of the regulator's role in the collapse of London Capital & Finance (LCF) investment fund.


Crypto Crime Siphoned off Nearly $10.5B in 2020: Research

Blockchain analytics company Coinfirm noted that scams and fraud account for two thirds of the funds misappropriated.


Financial Regulations and Compliance: What Changes to Expect in 2021

2020 was a rough year for the financial services industry. Between the Covid-19 pandemic and the FinCEN files leak, several shortcomings within the sector were exposed, while global regulators continued to slap Financial Institutions around the world with hefty fines.


UAE launches training programmes to fight illicit finance

The UAE Higher Committee Overseeing the National Strategy on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) has launched two programmes to train and certify professionals on global compliance standards and procedures to fight illicit finance.



With people, governments, and organizations taking their businesses and operations online and making large digital transactions all around the world, it's needless to say that opportunists and hackers are not shy of trying to make a quick buck off of people's vulnerability and lack of knowledge.


Police and UK banks stopped ?45m of fraud in 2020

UK bank branch workers along with the police have stopped ?45m ($62.6m) in fraud in 2020 through the Banking Protocol scheme.


We Asked Successful Investors: Will You Be Adding Bitcoin to Your Portfolio?

There's a recent mania taking over the investing world, and it's called cryptocurrency. Since the domain name Bitcoin.com was registered in 2008, the world has seen Bitcoin (CRYPTO:BTC) rise and fall, hitting just under $50,000 per token on Feb. 15, 2021.


Morocco Accused Of Pervasive Money Laundering, Placed On 'Grey List'

The designation places Morocco alongside Yemen and Syria and could impact its ability to attract foreign investment in the future


Lawyers, accountants and other professionals play key role in cross-border financial crime, OECD warns in new report

The forum of wealthy nations urges countries to target and disrupt 'enablers' of tax evasion, money laundering and other illicit finance.


Coinbase's crypto holdings jumped ninefold last year to over $300 million as bitcoin surged

Coinbase isn't just enabling the trading of a bunch of bitcoin - it's holding cryptocurrencies on its books.


OSHA to Investigate Whistleblower Complaints under Criminal Antitrust Anti-Retaliation Act and Anti-Money Laundering Act

The US Department of Labor (DOL) announced on February 19 that the Occupational Safety and Health Administration (OSHA) will begin investigating whistleblower complaints of retaliation under the Criminal Antitrust Anti-Retaliation Act and the Anti-Money Laundering Act.


Global money laundering watchdog keeps Pakistan on terrorism financing 'grey list'

Global money laundering watchdog the Financial Action Task Force (FATF) on Thursday said it would keep Pakistan on its terrorism financing "grey list".


Cracking down on the professionals who enabling financial crimes

Lawyers, accountants and financial institutions will have to face the consequences for enabling tax and financial crimes as regulators now have the means to not only detect wrongdoing but also hold them to account for their illegal actions.


Ex-bank president in Texas gets 8 years for fake loans, arson to try to cover up fraud

A former Texas bank president who issued millions of dollars in fake loans over almost a decade and set a fire to try to cover up the fraud was sentenced to eight years in prison Tuesday, prosecutors said.


UAE Establishes Executive Office To Tackle Money Laundering, Terror Financing

Headed by Ambassador H.E. Hamad Obaid Al Zaabi, office was approved by Prime Minister of UAE, Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid Al.


Former Massachusetts State Representative Pleads Guilty to Embezzling Campaign Funds, Bank Fraud and Tax Fraud

Former Massachusetts State Representative David M. Nangle pleaded guilty today to illegally using campaign funds to pay for his personal expenses, defrauding a bank to obtain loans to purchase his home and repay his personal debts, and collecting income that he failed to report to the IRS.


Nigeria's Senate approves president's nominee for anti-corruption chief

Nigeria's Senate on Wednesday unanimously approved a new anti-corruption chief nominated by President Muhammadu Buhari.


New US Financial Crimes Rules Intensify Risks for Non-US Banks

Significant revisions to US anti money-laundering (AML) rules intensify financial crime risks for non-US banks by increasing the scope of potential investigations by the US government and raising financial penalties, according to Fitch Ratings.


NBA Top Shot, A Crypto-Based Platfom For Video Collectibles, Soars Past $200 Million In Total Sales

NBA Top Shot, a blockchain-based platform on which users buy and sell officially licensed NBA collectible highlights known as "Moments," has generated over $205 million in total sales since going live less than six months ago - with nearly 65% of that total processed in the past week.

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