All Fraud articles
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NewsFacebook, Instagram and Telegram platforms of choice for illegal vaccine cards
Online fraudsters are heading to our favourite social media platforms to push cards that apparently guarantee the card’s holder has been fully vaccinated against Covid-19.
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Cryptocurrency fraud continues to plague UK
So far in 2021, news reports reveal that cryptocurrency fraudsters have cheated over £146m ($200USD) out of victims in Great Britain.
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New operation to protect next generation EU recovery funds
Launched at Europol, Operation Sentinel will contribute to a concerted response to an expected fraud wave.
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New scam exploits iPhone users looking for love
Researchers at Sophos Labs have unearthed a fake iOS cryptocurrency apps that has targeted US, European victims for at least $1.4 million.
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Europol shuts down network selling fake financial services
Law enforcement and judicial authorities from Bulgaria, Cyprus, Germany, the Netherlands and Ukraine, supported by Europol and Eurojust, teamed up against an organised crime group involved in binary fraud.
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Phishing scams via SMS on the rise
A new financial crime report has discovered a rise in phishing scams conducted via text message, an act known as smishing.
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VAT fraud with cash registers uncovered in Germany
More than 300 Italian restaurants in Germany reportedly used manipulated cash registers to avoid taxes.
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Pandora Papers: biggest offshore data leak
One of the largest financial document leaks has revealed the secret wealth and dealings of international leaders, politicians, and billionaires.
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New fraud hotline launched in UK
In a new pilot scheme to combat the surge in financial crimes consumers can now phone 159 to be connected to their bank and receive advice.
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Restaurant owner jailed for Covid fraud
Pizza restaurant owner Michael Bischoff of Michigan has been imprisoned 32 months for fraudulently seeking $931,000 (€788,000) in paycheck protection programme (PPP) loans, one of the US government’s Covid-19 relief schemes for businesses.
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Basel Institute on Governance raises doubts on ML/TF fight
The organisation behind the Basel AML Index says the latest findings raise grave questions whether jurisdictions are serious about dealing with money laundering and terrorist financing (ML/TF).
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FAFT reports identifies room for improvement in Japan’s AML/CFT measures
Japan has a good understanding of the main elements of money laundering and terrorism financing risks, but there are areas where things could be better.
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US names three people for financial crimes in South America
The treasury department in the US has sanctioned three Paraguayans for money laundering and import-export offences based in the Tri-Border Area of Paraguay, Argentina and Brazil.
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Football authorities to receive $201m after corruption scandal
International soccer’s governing body Fifa and associated organisations are to receive $201m (€171m) seized by the United States’ justice department during a financial crime investigation into the way the sport was run.
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Dutch DPA conditionally allows data sharing in fight against fraud
The Netherlands’ data protection authority has granted more than 160 financial institutions a licence to share information about fraudsters to help fight financial crime.
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Company owner jailed for Covid-relief fraud
Businessman Mukund Mohan of Clyde Hill, Washington state, has been imprisoned for two years after admitting fraud and money laundering to obtain $5.5m (€4.68m) from the US Paycheck Protection Program (PPP) and then hiding the proceeds.
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Global AML fines fallen by 50% in 1H 2021
In the first half of 2021, global fines for anti-money laundering and data privacy compliance violations fell by over 50% year on year, but could swiftly rebound as financial crime continues, according to Fenergo.
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Forty jailed in UAE for money laundering and fraud
Abu Dhabi Criminal Court has imprisoned 40 men after they conned investors into putting money into a digital trading platform and converting their clients’ funds into a fake digital currency called Foin so the investors could not get their money back.
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Chinese fashion clothing director charged with money laundering
The director of a Chinese company which produces clothes for leading fashion chains has been accused of deceiving the Bank of China (Hong Kong) into issuing letters of credit (L/Cs) worth more than US$5.5m (€4.69m) to a supplier based on fraudulent business transactions.
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Businessman charged with $784m Medicare fraud
The owner of telemedicine companies in the US has been indicted with orchestrating a health care fraud and illegal kickback scheme by submitting more than $784m (€668m) of false and fraudulent claims – one of the largest ever scams on the country’s Medicare programme, according to the justice department.
