Reported by: Laura Noonan Clouds are gathering over swaths of fintech companies, as falling economic growth, rising interest rates and a cost of living crisis put their business models under strain, forcing job cuts and valuation-crushing funding rounds. ComplyAdvantage founder Charlie Delingpole knows his company is not immune to those forces, as fintechs are among […]
Reported by: Clancy Yeates Dutch bank ING has vowed to fix its anti-money laundering and counter-terrorism financing systems, after an investigation by financial crimes regulator Austrac found flaws in the lender’s compliance. Austrac on Thursday said it accepted a court-enforceable undertaking from ING’s Australian business, with ING promising to beef up its reporting of suspicious […]
Reported by: AYSHA BAGCHI The Internal Revenue Service has signaled that a wave of tax prosecutions involving cryptocurrency is coming. Its Criminal Investigations division is building hundreds of cryptocurrency cases, with about half of those investigations focused specifically on tax crimes, according to division Chief Jim Lee. Others target money laundering, he said. Lee made […]
Reported by: U.S. Department of Justice Two Estonian citizens were arrested in Tallinn, Estonia, yesterday on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy. The indictment was returned by a grand jury in the Western District of Washington on Oct. 27 and unsealed today. According to […]
Reported by: Gwinny Kongphet The Regulated Liability Network, a proof-of-concept digital currency network, was launched on Tuesday according to a collection of banking organizations that includes HBSC, Mastercard, and Wells Fargo (RLN). The New York Innovation Center (NYIC), a division of the Federal Reserve Bank of New York, is thrilled to be collaborating with the […]
Reported by: Fergus Shiel and Micael Pereira The international police organization Interpol has issued a warrant for the arrest of Angolan billionaire Isabel dos Santos, according to sources. Dos Santos, the daughter of Angola’s former authoritarian president José Eduardo dos Santos, was the subject of the International Consortium of Investigative Journalists’ 2020 Luanda Leaks investigation. Luanda […]
Reported by: Department of Justice, U.S. Attorney’s Office, Eastern District of Texas A Nevada man and a South Carolina man have been indicted in a cryptocurrency money laundering conspiracy in the Eastern District of Texas, announced U.S. Attorney Brit Featherston. Randall V. Rule, 71, of Reno, NV, and Gregory C. Nysewander, 64, formerly of Irmo, […]
Reported by: KELLY PHILLIPS ERB Have you ever been on the receiving end of an aggressive sales call? Each year, thousands of people fall victim to so-called boiler room schemes. The US Securities and Exchange Commission defines boiler room schemes as large-scale operations designed to lure in as many people into an investment scam as […]
Reported by: Sam Tobin The former chief executive of an Austrian bank who faces charges in the United States in relation to a bribery and money laundering conspiracy involving Brazilian construction company Odebrecht asked a London court on Wednesday to refuse to extradite him. Peter Weinzierl – former chief executive of Meinl Bank, later renamed […]
Reported by: Joshua Fineman 98-year old billionaire Charlie Munger, a long time critic of crypto, called digital currencies a combination of delusion and fraud in the wake of the blowup of exchange FTX. “You are seeing a lot of delusion,” Munger, vice chairman of Berkshire Hathaway (NYSE:BRK.B), said in a CNBC interview.“Partly fraud and partly delusion. That’s […]
Financial Crime News Briefs 