Reported by Tad Simons Technology Journalist/Thomson Reuters Institute Fraud is on the rise almost everywhere, and there is no indication of a slowdown anytime soon, according to the statistics behind SARs filings The number of suspicious activity reports (SARs) — the documents that financial institutions must file with the federal government’s Financial Crimes Enforcement Network (FinCEN) […]
Reported by David Balaban In March 2024, European Parliament committees approved a ban on anonymous digital asset transfers. If the EU Council and Parliament adopt these laws, they will take effect in three years. Some cybersecurity and cryptocurrency experts believe that mandatory user verification (KYC) could compromise personal data security. The Security Risks Introduced by KYC […]
Reported by Rebecca Redlich Kuala Lumpur is once again displaying its willingness to facilitate Iran’s illicit activity, support Hamas, and amplify anti-Israel rhetoric well beyond what its neighbors have countenanced. Malaysia has a long history of anti-Israel policies, and the Gaza war has opened the door for it to escalate this approach. On December 20, […]
Reported by MATTHEW PETTI A bipartisan bill would give the secretary of the treasury unilateral power to classify any charity as a terrorist-supporting organization, automatically stripping away its nonprofit status. The bill, H.R. 6408, already passed the House of Representatives in November, and a companion bill, S. 4136, was introduced to the Senate by Sens. John Cornyn (R–Texas) and […]
Reported by NovaSphere Do you know what the black market oil trade looks like for Iran? Despite sanctions, Iran still sells oil to buyers from Pakistan along the beach by their border where a plethora of small Toyota trucks are used for transport. Watch short video by NovaSphere.
Reported by Andy Maxwell It’s long been the case that access to certain services, whether on or offline, will only be granted when customers prove their identity. Often linked to financial products but in many cases basic money/goods transactions carried out online, handing over a name, address, date of birth and similar details, can increase […]
Reported by Luke Gentile, Washington Examiner Seizures of fentanyl in Colorado are on the rise as cartels expand their territory and spread into new areas, Drug Enforcement Administrationofficials said. In 2023, the Rocky Mountain Field Division of the DEA saw a new record reached in the total amount of fentanyl seized after agents captured over 2.6 million pills in Colorado, according to a report […]
Reported by Crystal Kim, author of Axios Crypto Federal prosecutors on Wednesday charged the founders of a crypto-mixing service called Samourai Wallet with conspiracy to commit money laundering and operating an unlicensed money transmitter business. Samourai Wallet is a Bitcoin wallet that promised to “keep your transactions private and your identity masked.” Samourai allegedly executed over […]
Reported by Joe Bruno, wsoctv.com Feds are charging five Chinese nationals with money laundering after they say the suspects were part of a Chinese money-laundering operation that assisted drug trafficking operations by depositing drug money into Charlotte banks. In March, a grand jury indicted Enhua Fang, Shu Jun Zhen, Jianfei Lu, Maoxuan Xia, and Shao […]
Reported by @letsdodizz Do you know that your voice can be used to victimize others? This fraud scheme involves AI. Watch short video from @letsdodizz. #ai #artificialintelligence #identitytheft #fraud #financialcrime
Financial Crime News Briefs 