Reported by Philip Heijmans and Niki Koswanage Malaysia’s government can’t rule out whether a local charity funneled millions of dollars to Hamas, according to officials familiar with the matter, as it probes the group for allegedly supporting a conservative Islamist organization in the Southeast Asian nation. Malaysia’s anti-graft body on Oct. 17 froze as many as 41 […]
Reported by Alex Mitchell A new report reveals a staggeringly high number of Gen Zers openly admitting to engaging in credit card fraud — with nearly half of them committing the financial crime, according to new data from anti-fraud company Sift. The research found that 42% of those aged 26 and younger admitted to filing a fraud claim […]
Reported by RNZ The Reserve Bank has issued a formal warning to the New Zealand branch of Citibank under anti-money laundering and counter terrorism financing laws. The warning relates to wire transfer identity requirements under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009. Citibank is one of the world’s largest banks and […]
Reported by Ben Stupples Since being charged by US federal prosecutors in July, the Tavistock Group founder has repeatedly traded shares of Mirati Therapeutics Inc., Australian Agricultural Co. and Tango Therapeutics Inc., according to data compiled by Bloomberg from regulatory filings. His stakes in those companies — three of the five behind the indictment’s claims […]
Reported by Hugo Miller For the global wealthy with money to hide, it has long been helpful to have a Swiss company at your side. One with a nameplate, a letter-box, and no employees. But like banking secrecy over a decade ago, the Swiss shell-company industry is now facing a fundamental threat. In its fight […]
Reported by novayagazeta.eu Russia has imported at least 1,000 luxury cars worth a total of €93 million via Belarus in breach of EU sanctions since the start of the war in Ukraine, a joint investigation by independent media outlets Verstka and Buro with contributions from the Belarusian hacker collective Cyber Partisans revealed on Monday. Many […]
Reported by MICHAEL BROMBERG With cryptocurrency markets hovering at a global market capitalization of over $1.3 trillion, financial advisors are likely to encounter some clients who already own crypto and others with questions about investing in digital assets. Unfortunately, uncertainties around current and future regulations could create a quandary for financial advisors when they discuss […]
Reported by Emily Schmall Amazon has accused an international organization, including customers and several former employees, of conspiring to steal millions of dollars in online products through fraudulent refunds. In a lawsuit filed Thursday in the U.S. District Court in Seattle, the online retailer accused the group, called REKK, of perpetrating the fraud between June […]
Reported by Tara Siegel Bernard What was once a routine way to pay your bills — handwriting paper checks at the kitchen table, dropping envelopes into a blue metal box on the street — has become a high-risk endeavor: It provides the raw materials for low-level fraud artists and sophisticated crime rings, costing financial institutions […]
Reported by Kate Kelly Three years ago, when Congress passed an anti-corruption law intended to help combat money laundering through shell companies, it drew bipartisan support. Senator Sherrod Brown, Democrat of Ohio, called it “long overdue.” Senator Marco Rubio, Republican of Florida, called it an “important provision” that would help law enforcement agencies crack down […]
Financial Crime News Briefs 