04.21.21

Venmo just put crypto access in the palm of everyone's hand

Bitcoin and similar cryptocurrencies have gone increasingly mainstream, but Tuesday's announcement that Venmo is adding crypto support just put crypto access in the palm of everyone's hand.



04.21.21

Sarasota business tried fraud to rake in over $4 million in CARES Act funds, cops say

A Sarasota business took in most of $319,000 in federal CARES Act relief money fraudulently, according to the Sarasota County Sheriff's Office, and it had applied for over $4.1 million more.



04.21.21

Fintech CEO Pleads Guilty To Multiple Fraud Schemes, Including $7 Million COVID-19 Pandemic Loan Fraud And Securities Fraud

Audrey Strauss, United States Attorney for the Southern District of New York, announced today that SHENG-WEN CHENG, a/k/a "Justin Cheng," a/k/a "Justin Jung," pled guilty to major fraud against the United States, bank fraud, securities fraud, and wire fraud in connection with multiple fraud schemes he perpetrated.



04.21.21

NASA employee pleads guilty to COVID-19 loan fraud

A Senior Executive Service Employee at NASA is pleading guilty to submitting over $350,000 worth of fraudulent COVID-19 economic relief loans and benefits applications.



04.21.21

International Trade as the New Front Against Transnational Crime

Governments worldwide are sharpening their focus on money laundering executed through international trade. Anti-money laundering obligations on entities beyond traditional financial institutions continue to expand.



04.20.21

South Korea Cracking Down on Illegal Crypto Transactions

Officials in South Korea have announced that there will be "no illegal cryptocurrency transactions" in the country moving forward.



04.20.21

US Charges Nigerian with Elder Fraud

The United States has brought federal charges against a Maryland resident in connection with a social media scam that victimized elderly Americans.



04.20.21

Canton Woman Sentenced for Role in BEC Scheme

A Canton woman was sentenced on Friday, April 16, 2021 in federal court in Boston in connection with a business email compromise (BEC) scheme.



04.20.21

Vulnerability reminder: On credit-related corporate frauds

The RBI needs to ensure tighter oversight over large-value credit-related corporate frauds



04.20.21

CARES Act Fraud: Investigation Reveals $4M In Attempted Fraud

Eight people associated with SRQ Financial Solutions face CARES Act-related fraud charges in Sarasota County, the sheriff's office said.



04.19.21

Prominent Dallas lawyer accused of agreeing to launder drug money for a cut of the profits

Ray Jackson, 51, used his law degree to "line his own pockets," authorities allege. An undercover DEA operation led to his arrest on federal charges.



04.19.21

Bitcoin suffers flash crash following week of crypto hype

After a hype-filled week for cryptocurrencies, Bitcoin experienced a flash crash over the weekend, plunging nearly 14% in less than an hour, from about $59,000 to $51,000, on Saturday night before rebounding. Other popular cryptocurrencies including ethereum and Dogecoin also fell dramatically, before recouping some of their losses.



04.19.21

The New Anti-Money Laundering Act: Issues for Financial Institutions

The new Anti-Money Laundering Act of 2020 established the most comprehensive set of reforms to American anti-money laundering law since the passage of the Patriot Act in 2001.pliance programs.



04.19.21

Regulatory Tolerance Wearing Thin When it Comes to AML Deficiencies

The Financial Conduct Authority's (FCA's) inaugural use of its criminal money laundering powers under Regulation 45 of the UK Money Laundering Regulations 2007 (MLR) against NatWest is viewed by many as a warning shot to firms within scope of the MLR that the FCA is prepared to utilise its criminal authority in cases that it considers to be serious, including against major financial institutions.



04.19.21

Biden was tough on drugs for decades. Now he faces challenges in fighting money laundering

Decades ago, then-Sen. Joe Biden established himself as a sort of drug czar on Capitol Hill. In the 1980s, he helped launch the Office of National Drug Control Policy. And a decade later, Biden became one of the masterminds behind Plan Colombia, a $7.5 billion bilateral program focused on, among other things, fighting drug trafficking in the Americas.



04.16.21

USC basketball avoids major NCAA penalties in corruption case

During an early-morning raid three and a half years ago, gun-wielding FBI agents arrested Tony Bland, then the associate head men's basketball coach at USC, in a hotel room as part of the sprawling investigation into bribery and corruption in the sport.



04.16.21

Accountant jailed for 'industrial scale' ?1.4m fraud

Steven Day, 51, of Perthshire, Scotland, plundered ?1.4m from firms and defrauded the NHS.



04.16.21

Here's how investors can spot the next Bernie Madoff

Bernie Madoff was perhaps the starkest reminder that financial advisors can go rogue - and, when they do, people stand to lose a lot of money.



04.16.21

UK Fraud Epidemic is Everybody's Problem but Nobody's Priority

In the UK, fraud accounts for more than 50% of reported crime; yet less than 1% of police time is spent investigating it.



04.16.21

Coinbase stock closes down day after landmark Nasdaq debut

Coinbase shares whipsawed Thursday, a day after the cryptocurrency exchange went public in a blockbuster direct listing.



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