Reported by Joe Miller Prosecutors on Monday urged a Manhattan jury to find Archegos founder Bill Hwang guilty of fraud and market manipulation, alleging that he “behaved as though the rules did not apply to him” by artificially inflating stock prices in a scheme that left banks with billions of dollars of losses. The collapse […]
Reported by Greg Iacurci Employment scams surged last year, as criminals leveraged artificial intelligence to steal money and personal information from unsuspecting job seekers, experts said. Consumer reports of job scams jumped 118% in 2023 from the prior year, according to a recent report by the Identity Theft Resource Center. Thieves generally pose as recruiters and post fake job listings to […]
Reported by Tracey Tully and Benjamin Weiser Senator Robert Menendez’s sister testified on Monday about their parents’ journey from Cuba and the family’s practice of storing cash at home, offering justification for a habit he has said explains at least some of the roughly $480,000 F.B.I. agents seized during a search of his New Jersey home. The […]
Reported by Lucy Colback Stick ’em up Ransomware is a ubiquitous problem. In a traditional ransomware attack, in which files are encrypted and users’ access disabled, “you have between 45 seconds and four hours before your entire network is done”, says Mick Baccio, global security adviser at Splunk, a cyber security company. One UK/US crime group, Scattered […]
Reported by AFP – Agence France Presse The Hong Kong Monetary Authority fined the local arm of Singapore’s DBS Bank HK$10 million ($1.3 million) for breaches of its anti-money laundering law, the banking regulator said on Friday. The HKMA said the bank failed to “continuously monitor business relationships and conduct enhanced due diligence in high […]
Reported by Leo Laikola and Sara Sjolin Danish police has filed charges against Nordea Bank Abp, in what its National Special Crime Unit says is the biggest money laundering case in the country to date. The unit, which launched court proceedings after investigating the lender’s anti-money laundering controls in the 2012 to 2015 period, said that the case […]
Reported by FinCrime Do you want to learn how the Sinaloa cartel in Los Angeles conspired with Chinese underground banking groups to launder funds? Below is an excerpt of the Federal indictment that charged 24 people linked to the organizations following a multi-year investigation dubbed “Operation Fortune Runner,” which unveiled sophisticated methods used by the cartel […]
Reported by TOM MITCHELHILL A GameStop investor who sued Keith Gill, known as Roaring Kitty, over alleged securities fraud, dropped his lawsuit just three days after filing it. Plaintiff Martin Radev dropped the suit after submitting a voluntary motion to dismiss in the United States District Court for the Eastern District of New York. It […]
Reported by Harry Suhartono Six single family office funds linked to a S$3 billion ($2.2 billion) money laundering case in Singapore have received tax incentives from the Monetary Authority of Singapore. The tax benefits were withdrawn starting from the financial year the owners of these family office funds or their spouses were charged or convicted, […]
Reported by Selena Kuznikov Morgan Freeman shared a note giving thanks to his fans Friday morning, expressing gratitude for users’ efforts calling out unauthorized AI imitations of the actor’s recognizable voice. The celebrated 87-year-old actor has become legend for his narration in films such as “March of the Penguins,” “The Shawshank Redemption” and “Million Dollar Baby.” […]
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