Reported by Inc (Excerpt from news shared below. To read complaint, go to: https://npr.brightspotcdn.com/49/28/16d914944704bdbfade2f5dcba51/five-star-v-mott.pdf) A former restaurant owner is about to be sentenced on federal charges of fraud and money laundering a year ago stemming from a technique that was popular in the era of analog banking. Katherine Mott-Formicola was the owner of several upscale […]

Reported by Nicholas Comfort and Karin Matussek (Summary shared below. To read full report, go to: https://www.bloomberg.com/news/articles/2026-04-02/operation-chargeback-germany-takes-on-alleged-scammers-over-300-million-fraud?embedded-checkout=true) A major fraud investigation in Germany has uncovered a sprawling payments scandal worth more than €300 million, deepening the crisis facing the country’s fintech sector years after the collapse of Wirecard AG. Prosecutors say criminal networks used stolen credit-card data […]

Reported by Hillary Remy (Excerpt shared below. To read full report, go to: https://www.thestreet.com/technology/ai-may-be-cracking-this-finance-problem-money-laundering-fraud-crime) Industry shifts toward AI-driven anti-money laundering compliance The move toward AI driven compliance is not limited to one company or approach. Across the financial system, institutions are exploring ways to use machine learning to improve detection and reduce inefficiencies. Regulatory fines […]