Reported by Andy Greenberg (Summary version featured below) A Telegram-based Chinese-language black market called Xinbi Guarantee has facilitated over $8.4 billion in illicit transactions since 2022, according to new research from crypto-tracing firm Elliptic. Although presented as a legitimate company registered in Colorado, Xinbi operated as a hub for money laundering services tied to crypto […]
Reported by NBC News
Reported by Alan Wooten | The Center Carolinas attorneys general believe a social media app originating out of China owned by Tencent is money laundering and tied to fentanyl trafficking. The drug, a synthetic opioid the CDC says is up to 50 times stronger than heroin and 100 times stronger than morphine, is a key […]
Reported by Morning Brew and The Wall Street Journal
Reported by ScreenlyyID ScreenlyyID, a global fraud management company specializing in remote identity verification, Know Your Customer (KYC), and Anti-Money Laundering (AML) compliance, launched its Free-for-Life KYC and AML Plan. The new initiative seeks to address cost and integration challenges that often prevent smaller organizations from efficiently managing regulatory requirements. Many early-stage companies face high […]
Reported by Lisa Bonos Clement Anthonioz, a 38-year-old telecommunications professional, walked into a sleek store in the Union Square shopping district Thursday and stared into a white orb as it scanned his iris to generate his “proof of personhood.” It was opening day for one of six U.S. storefronts promoting World, a digital identity system […]
Reported by Carter Pape Experts from Barclays and Threat Fabric, as well as the National Retail Federation (NRF) and Target, introduced their respective efforts to develop so-called fraud “kill chains” to map and understand the structure of economic crimes. The fraud kill chain Download White Paper from here: The model from Barclays and Threat Fabric […]
Reported by Trey Yingst
Reported by Margot Sanger-Katz and Sarah Kliff In 1989, New Hampshire’s Republican governor, Judd Gregg, had a gaping budget hole he didn’t know how to fill. His health secretary came up with a solution: a tax maneuver he’d learned through the grapevine that would force Washington to send the state millions in extra Medicaid funds. It was […]
Reported by Rob Davies UK offshore havens have missed a deadline to publish their plans to improve corporate transparency, as MPs criticised the British Virgin Islands (BVI) in particular for launching a financial crime-fighting cartoon mascot before new legislation. Jurisdictions including the BVI and Bermuda pledged last year to approve laws allowing access to company ownership data to those […]
