Latest Financial Fraud – Page 4
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NewsPioneering Australian businessman accused of tax fraud
Bob Johnson, founder of Australian mining software and equipment company Maptek, has appeared in an Adelaide court facing two charges of defrauding the government and 13 of obtaining financial advantage by deception.
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NewsFraudster ordered to pay £37m
A British court has ordered tax cheat Adam Umerji to pay more than £37m ($51m, €43m) after being convicted in his absence of defrauding the UK’s tax-collection service, HMRC.
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NewsTrial of cardinal accused of embezzlement starts at Vatican
Cardinal Angelo Becciu yesterday (27 July) sat through the opening day of his financial crimes court hearing in the Vatican. He and his former secretary, Monsignor Mauro Carlino, were the only two of the ten accused to attend: the others have exercised their right to be defended in absentia.
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NewsMalta seeks German help in hunt for international tax dodgers
The Maltese government has asked Germany for access to data on offshore holdings in Dubai, the United Arab Emirates, to crack down on large-scale tax evasion and financial crime.
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NewsCanberra chases suspected stimulus package fraudsters
The Australian Taxation Office (ATO) is following up on more than 200 cases of possible cheating of the country’s JobKeeper wage subsidy scheme introduced last year in response to the Covid-19 pandemic.
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NewsBritain risks tsunami of fraud, law makers warned
The UK is facing a greater threat from fraud than during the 2008 financial crisis and government efforts to fight it are falling far short, members of Parliament were told.
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NewsMomentum fined for having inadequate measures against financial crime
South Africa’s Financial Sector Conduct Authority (FSCA) has ordered Momentum Wealth and Momentum Collective Investments to pay ZAR11.1m ($773,000, €654,000) after an inspection found weaknesses in their money laundering and terrorist financing controls.
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NewsSingapore looks to combat online fraud
The Monetary Authority of Singapore is leading a task force with banks and payment companies to find ways to better protect consumers against fraudulent e-payments, said home affairs minister Desmond Tan.
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NewsPakistan establishes AML/CTF unit
The National Accountability Bureau, Pakistan’s anti-corruption watchdog, has set up an anti-money laundering and terror financing team (AML/CTF) to check financial crimes and illegal transfer of resources.
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NewsTrump Organization charged with tax fraud
Prosecutors in New York have accused the Trump Organization of a scheme to defraud through a 15-year, off-the-books payment scheme allowing executives to avoid paying taxes on company perks.
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NewsMcAfee dies in Spanish prison
Antivirus software pioneer John McAfee has been found dead in a suspected suicide in his Barcelona prison cell after Spain’s high court authorised his extradition to the US to face tax evasion charges.
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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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EventFinCrime 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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AnalysisJohn 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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NewsChina 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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NewsFCA 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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AnalysisKeynote: 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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NewsBanking 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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NewsUS 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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AnalysisPooling 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