More From Financial Crime Threats
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NewsNew 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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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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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
How your bank can protect a herd of elephants in Botswana’s Okavango Delta
Erik Stretz outlines what Europe’s banks must do to help fight the illicit trade of wildlife
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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
270 service deposit addresses ‘account for 55% of all cryptocurrency money laundering globally’
Law enforcement could signficantly hamper cybercriminals’ ability to convert cryptocurrency into cash by identifying and prosecuting the owners of the “surprisingly small” number of deposit address service providers responsible, according to a report.
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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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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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Crown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
Crown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
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UK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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Luxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.
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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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US seizes Iranian oil tanker over alleged terrorist group funding links
The United States has seized an Iranian oil tanker and is seeking a forfeiture order over alleged links to terrorist financing.
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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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German regulator orders Goldman Sachs to comply with AML law
Germany’s financial watchdog has ordered Goldman Sachs to comply with anti-money laundering legislation.
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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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Head of German financial regulator leaves post over Wirecard scandal
Felix Hufeld, the President of the Federal Financial Supervisory Authority (BaFin), will leave his post as part of a reorganisation of the German regulator following the Wirecard scandal.
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Cryptocurrency crime drops overall but ‘DeFi’ thefts rise, report reveals
Decentralised finance (DeFi) is the “next major threat vector for fraud and money laundering”, accounting for half of crypto thefts in 2020, according to a new report.
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News
RUSI argues for national security response to tackle fraud ‘epidemic’
A UK thinktank has called for fraud to be considered a ’national security priority’ backed by a new public-private strategy.
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News
China’s clampdown on payment providers is necessary to protect international financial ecosystem
The authorities in China are seeking to expand anti-money laundering supervision of non-bank payment providers and have also stepped up fines. Jose Caldera explains why this is needed.
