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Financial Crime News Briefs

Snapshots of money laundering, insider trading, financial fraud, sanctions evasion, regulations, and AI technology developments for educational purposes only.

Day: January 15, 2024

Written by FinCrimeJanuary 15, 2024

Frequent flyer miles helped authorities crack down on a $127 million money laundering scheme

Reported by Veronika Bondarenko While airlines will reward big spenders who collect a lot of miles with perks ranging from a free suitcase to free ticket changes and lounge access, collecting too many too fast can also be a sign of something illicit. That is, at least, what tipped off authorities trying to trace the origins of smugglers illegally moving […]

Written by FinCrimeJanuary 15, 2024

Tether crypto token increasingly favoured by money launderers, UN warns

Reported by Scott Chipolina Tether, one of the world’s largest cryptocurrency platforms, has emerged as one of the leading payment methods for money launderers and fraudsters operating in south-east Asia, the UN has warned.  According to a report published on Monday by the UN’s office on drugs and crime, Tether’s crypto token, also known as […]

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