All Fraud articles
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Analysis‘Corporate transparency is a moral and social issue’
Graham Barrow is one of the world’s leading commentators and experts on financial crime and a leading advocate for corporate transparency. Ahead of his appearance at FinCrime World Forum later this month, he speaks to GRC World Forums about why this issue is so important
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News
Two charged with bribery and laundering over plan that ‘generated $65m in profit’ through Ecuador pension scheme
Two men have been charged in the United States for their role in a bribery and laundering scheme to make illegal profits from a public police pension scheme (ISSPOL) in Ecuador
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Analysis
UAE’s AML journey: radical change or more of the same?
The United Arab Emirates has long been a magnet for illicit funds, for a whole host of often deep-rooted economic, historical, geographical and cultural reasons. But with the Financial Action Task Force calling for urgent action, the Gulf state has recently shown signs of flexing its regulatory muscles, but can it really adequately tackle financial crime?
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News
FATF adds four countries to AML ‘grey list’ following plenary
The Financial Action Task Force (FATF) has added the Cayman Islands, Burkina Faso, Morocco, and Senegal to its ‘grey list’ of countries under supervision.
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Blog
Blaming company formation agents misses the bigger picture about AML in the UK
The National Crime Agency is planning a crack down on company formation agents as part of an AML drive. However, John Binns argues the problems are due to more significant holes in the UK’s financial crime safety net
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News
A strong compliance programme “should be part of a company’s DNA” says head of UK’s SFO
The head of the United Kingdom’s economic crimes investigative agency has stressed the need for companies to have a strong compliance programme.
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News
New AML rules in US increase credit risk for banks globally, warns rating agency
New anti-money laundering legislation in the United States intensifies credit risks for non-US banks, a major rating agency has warned.
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News
UK cyber fraud efforts ‘hampered by uncertain definitions and measurement’ warns think tank
A “worrying” lack of certainty about the definition, understanding and measurement of cyber fraud is hampering efforts to tackle cyber fraud, a United Kingdom think tank has warned.
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News
Former Europol director to kick off two days of debate at FinCrime World Forum
Sir Rob Wainwright will kick off two days of debate, insight and virtual networking at the FinCrime World Forum next month.
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News
Further $853m fraud reported at troubled Indian housing finance company DHFL
Indian finance company Dewan Housing Finance Corporation Ltd (DHFL) has reported a further fraud worth Rs 6,182 crore (around $850m) to the stock market.
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Blog
DeFi brings risks and opportunities for AML
Cyber fraud and money laundering involving Decentralised Finance (DeFi) is on the rise. Here Marcus Rickard looks at the risks DeFi creates for AML compliance, the consequences of those risks for AML compliance officers, how the risks can be mitigated and the potential benefits DeFi brings
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Blog
Financial crime co-operation should continue despite Brexit Trade Agreement changes
The Trade & Cooperation Agreement which came into effect last month marks the start of a new financial crime fighting relationship between the United Kingdom and European Union, writes Francesca Titus
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News
“Fishrot Files” corruption and laundering probe into Norway’s largest bank DNB dropped
Norway’s largest bank DNB has announced it is no longer being investigated by the country’s financial crime watchdog over alleged links to bribery and money laundering
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News
Bank of Russia reports ‘surge’ in illegal financial services offered online
The central bank of the Russian Federation has identified more than 1,500 organisations suspected of engaging in illegal financial service activity in 2020, as online fraud “surged” during the Covid-19 pandemic.
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Blog
Cum-Ex tax fraud: the difficulties and dilemmas in pinning blame
The Cum-Ex trading scandal led to governments in several western European countries losing billions of Euros in tax revenue. As fresh prosecutions get underway, Tom McNeill explains the difficulties in proving collusion between different parties.
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News
Yellen warns of ‘explosion’ in fraud, cybercrime, cryptocurrency misuse and laundering
The new US Treasury Secretary has warned of the need to tackle rising financial crime, cryptocurrency misuse and cyber attacks.
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News
Founder of $90 million cryptocurrency hedge fund admits securities fraud
A 24-year-old Australian national is facing up to 20 years in prison in the United States (US) after defrauding investors in his cryptocurrency hedge fund out of $90m and then attempting to steal from a second fund.
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News
UK Serious Fraud Office loses legal fight to compel foreign business to hand over documents
The United Kingdom’s Serious Fraud Office (SFO) has lost a court battle over whether it has the power to compel foreign businesses to hand over documents held overseas.
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News
50 US banks deceived through shell companies in laundering operation
Police have arrested more than 100 members of a criminal gang accused of laundering €12 million through 50 different U.S. banks.
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Blog
Brexit trade agreement fails to replicate financial crime information-sharing
The Trade & Co-operation agreement will see the UK lose access to information but hopefully common sense will prevail, writes Michael Hatchwell
