01.29.21

Crypto Gawks at GameStop, Sees Shades of Self

Digital-market traders found amusement in the GameStop saga.



01.29.21

Accurately Assessing Financial Crime Risk at Midsize Banks in 2021

Mid-sized financial institutions - defined as those with $1 billion to $10 billion in assets - play an important role in our financial system.



01.29.21

Man Charged with $1.9 Million COVID-Relief Fraud

A Nevada man was charged in an indictment Wednesday for his alleged participation in a scheme to defraud multiple financial institutions by filing bank loan applications that fraudulently sought more than $1.9 million dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.



01.29.21

Israel places 35th on global corruption index

Israel ranked 25th out of the 37-member countries of the OECD, the report noted.



01.28.21

Drug Cartels Used Australian Banks to Launder $380m

It turns out major criminal syndicates have been routing funds through Australia, buying and selling electronics equipment to clean their cash.



01.28.21

Discord bans the r/WallStreetBets server

It was banned following repeated warnings for allowing hate speech



01.28.21

True corporate transparency now: A new legislative tool will help fight fraud and terrorism, but we must go further

On New Year's Day, as millions of Americans declared their resolutions, Congress passed its own bipartisan legislative "resolution" -the Corporate Transparency Act- to end the nationwide proliferation of anonymous shell companies.



01.28.21

Marketing Company Agrees to Pay $150 Million for Facilitating Elder Fraud Schemes

Epsilon Data Management LLC (Epsilon), one of the largest marketing companies in the world, has entered into a settlement with the Department of Justice to resolve a criminal charge for selling millions of Americans' information to perpetrators of elder fraud schemes.



01.28.21

A Crime Epidemic Has Cost Americans Billions. Why Aren't More People Paying Attention?

On Monday, the state of California made a startling announcement: Last year, the state lost more than $11 billion as a result of unemployment benefits fraud-"billion" with a "b"- and another $20 billion is under investigation.



01.27.21

Deutsche Bank Agrees to Pay $130 Million to Resolve FCPA and Fraud Cases

Deutsche Bank, the infamous German bank connected to President Trump, settled FCPA and fraud cases with the Justice Department and the SEC, and agreed to pay a total of $130 million.



01.27.21

Ex-lottery VP says Eby 'disinterested' in corporation's anti-money laundering efforts

Attorney General David Eby appeared "disinterested" during an anti-money laundering briefing by top British Columbia Lottery Corp.



01.27.21

Exclusive: U.N. report accuses Yemen government of money-laundering, Houthis of taking state revenue

Independent U.N. sanctions monitors accused Yemen's government, in a report seen by Reuters on Tuesday, of money-laundering and corruption "that adversely affected access to adequate food supplies" and said the Houthi group collected at least $1.8 billion in state revenue in 2019 to help fund its war effort.



01.27.21

Anti-Money Laundering Act Requires Fresh Look At Compliance

The Anti-Money Laundering Act of 2020 took effect on Jan. 1 and is the most significant anti-money laundering statute since the USA Patriot Act was passed after the terrorist attacks of 9/11.



01.27.21

Philippines Issues Crypto Industry Guidelines to Guard Against Money Laundering

New guidelines bring the nation's digital asset industry in line with Financial Action Task Force standards.



01.26.21

Global RADAR Introduces AI-powered Platform to Solve Adverse Media Screening Challenge

Global RADAR has rolled out an AI-powered platform that uses machine learning to facilitate truly effective adverse media screening.



01.26.21

Mass arrests made in $810 million Hong Kong money laundering scheme

Breaking news reports that seven current and former members working for undisclosed banks in Hong Kong have been arrested for laundering up to $810 million dollars over the course of four years.



01.26.21

Atlanta business owners face fraud, money laundering charges related to PPP loan scheme

Owners of businesses in Atlanta, Doraville and Norcross were allegedly involved in a coordinated effort to illegally secure PPP funding.



01.26.21

Fraud epidemic 'is now national security threat'

Fraud has reached epidemic levels in the UK and should be seen as a national security issue, says think tank the Royal United Services Institute (RUSI).



01.26.21

Are banks overburdened with responsibility for money lost to online scams?

Bank boss calls for cross-industry cooperation to reduce scams that trick people into making instant payments online



01.25.21

Anti-Money Laundering a Priority for Incoming Treasury Secretary Yellen

Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.



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