All Fraud articles
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NewsFCA warns of dangers from unregistered crypto companies
The 111 crypto asset firms operating in the UK without registration pose a risk to the broader financial system, according to Mark Steward, head of enforcement and market oversight at the Financial Conduct Authority’s (FCA).
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Event
FinCrime World Forum deep-dives into corruption, dirty money, and the fight against kleptocracy
Today at FinCrime World Forum, award-winning investigative reporter and Financial Times investigations correspondent, Tom Burgis, discussed the inner workings of a growing global network of kleptocratic elites.
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Analysis
John Scanlon discusses the wildlife/FinCrime nexus at FinCrime World Forum
Before a global audience, Australian lawyer John Scanlon today presented his experiences of the illegal wildlife trade, and explored how the illicit industry props up international financial crime.
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News
China arrests more than 1,000 in cryptocurrency money laundering case
The Ministry of Public Security in China has detained around 1,100 people on charges of using cryptocurrency to launder money.
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News
FCA goes real-time to warn about online fraud
Britain’s Financial Conduct Authority (FCA) sweeps the internet several times a day to check for online scams and then issue warnings within 24 hours, an official of the financial regulator told a Parliamentary committee.
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Analysis
Keynote: Tackling the devastating impacts of wildlife trafficking
John Scanlon has been leading the charge to tackle wildlife trafficking and in June he will talk about the issue at FinCrime World Forum. Here, he explains how he is campaigning for a change to a key United Nations Protocol and how the Covid-19 pandemic has shone a spotlight on the issue
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News
Banking fraud soars 159%
New report reveals that banking fraud attempts has increased by 159% from the final three months of 2020 to Q1 2021.
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News
US defence contractor to pay $50m to settle fraud allegations
Military vehicle manufacturer Navistar Defense has agreed with the US department of justice (DoJ) to pay $50m (€41m) to resolve allegations it fraudulently induced the country’s Marine Corps to modify at inflated prices a suspension system contract for mine-resistant, ambush-protected armoured vehicles.
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Analysis
Pooling obligations through fincrime utilities can help us be the ‘gatekeeper’
Helene Erftemeijer, ahead of her talk to GRC World Forums next month, discusses an innovative collective transaction monitoring project in the Netherlands and why we must break down siloes to keep up with the criminals
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News
Cyber-criminals target Texas unemployment system
A cyber-criminal gang has shared a 13-page tutorial explaining how to successfully commit unemployment identity fraud in Texas.
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News
OCC warns of fraudulent emails seeking access to Bitcoin wallet keys
The regulator stated that it did not send the messages nor does it hold any funds for individual benefit.
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Analysis
The key theme: Aligning RegTech to FinCrime realities
Interest is growing in the use of RegTech solutions in financial crime and this will be a major topic at FinCrime World Forum next month. Here we take a look at some of the major technologies and techniques that could be utilised as well as some of the barriers to adoption
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News
‘DeFi’ fraud rises whilst cryptocurrency crime declines
New report reveals an alarming new trend in which decentralised finance hacks now make up more than 60% of the total crypto thefts and hacks volume.
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News
UK fraud office launches money laundering probe into Gupta steel empire’s links to Greensill Capital
The Serious Fraud Office in the United Kingdom has confirmed it has launched a fraud and money laundering investigation into the Gupta Family Group’s financial arrangements with failed financing firm Greensill Capital.
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Analysis
The key theme: focusing effectiveness on tackling financial crime
Regulators, government departments, private businesses and law enforcement agencies carry out a huge amount of activity every single day to combat financial crime, but how much of it is actually effective? How do we measure and improve our effectiveness? Next month’s FinCrime World Forum global live stream experience will feature several sessions on this topics. To get you in the mood, Matthew Redhead explains the key issues and argues for a systemic approach
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News
Standard Chartered AML failures in Guernsey revealed by regulator
Standard Chartered’s Guernsey subsidiary transferred assets worth $1.4billion to another jurisdiction where there was concern about tax evasion, the Guernsey Financial Services Commission (GFSC) said.
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Blog
Artificial Intelligence or Authentic Intelligence?
We are on the cusp of an artificial intelligence regtech spending boom, but AI has to be combined with human expertise if we are to stay a step ahead of the money launderers, argues Guy Harrison.
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News
UK sanctions 22 involved in corruption in drive against ‘dirty money’
The United Kingdom government has announced it has imposed sanctions on 22 individuals in various countries around the world involved in serious fraud and corruption
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News
Two cryptocurrency exchanges shut down amid fraud investigations in Turkey
Two cryptocurrency exchanges have closed in a week and are the subject of fraud investigations in an apparent clampdown in Turkey.
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News
Canadian government confirms plans for publicly accessible beneficial ownership registry
The federal government in Canada has confirmed plans for a publicly accessible register of corporate beneficial owners in a bid to tackle money laundering, fraud and tax evasion.
