Reported by the Federal Bureau of Investigation The following are some of the most common scams and crimes that the FBI encounters, as well as tips to help prevent you from being victimized. Visit the Bureau’s White-Collar Crime and Cyber Crime webpages for information on more fraud schemes. Originally published on: https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-scams-and-crimes
Reported by LEO SCHWARTZ As the legal debate continues over whether sales of cryptocurrencies constitute securities, all eyes have been on a court case involving a Coinbase employee sharing insider information with his brother and a friend. While the main defendant, former Coinbase employee Ishan Wahi, and his brother have reached settlements with both the […]
Reported by David Sheppard, Chris Campbell and Peter Andringa Crashing through car-sized chunks of Arctic sea ice in the face of whirlpool-like currents and near-endless darkness, two specialist heavy transport vessels made a journey few dare to brave: traversing the Northern Sea Route in the depths of winter. Philip Adkins, a former Hollywood banker who was […]
Reported by DEBORAH LEHR On February 23, a day before the second anniversary of the invasion of Ukraine and a week after the suspected murder of Alexei Navalny, President Joe Biden imposed over 500 new sanctions targeting “Russia’s war machine”. Unfortunately, this strengthened sanctions regime is undermined by a major oversight: the exemption of the American art […]
Reported by the FACT Coalition On Friday, March 1, a federal district judge in Alabama issued an opinion finding that the Corporate Transparency Act (CTA), a landmark U.S. anti money laundering law, is unconstitutional on the grounds that Congress supposedly exceeded certain limits on its powers. The decision was handed down in a challenge brought […]
Reported by Dominic Chopping Swedbank has been cleared of money laundering by Estonian prosecutors, ending a years-long probe into the Swedish bank. Swedbank had been under investigation for governance deficiencies related to anti-money laundering measures in its Baltic subsidiaries after a Swedish TV show reported in 2019 that billions of dollars of potentially illicit funds […]
Reported by Kelly Phillips Erb Months after the Corporate Transparency Act—or CTA—went into effect, a federal court has found it unconstitutional. The ruling resulted from a lawsuit filed by the National Small Business United (also known as the National Small Business Association, or NSBA) and Isaac Winkles. On March 1, 2024, U.S. District Judge Liles C. […]
Reported by Deborah Connor, Mark Edelstein, Thomas Fileti, Marc-Alain Galeazzi, Kaleb Keller, Malka Levitin, and Laura Linda Miller of Morrison & Foerster LLP On February 16, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking, which would require certain real estate professionals to report certain transaction information to FinCEN in connection […]
Reported by Nate Nelson Cybercriminals are laundering stolen funds through ordinary people, thanks to a small ecosystem of user-friendly apps that can turn any mobile user into an unwitting money mule. A new report from Cloud SEK details one such app: “XHelper,” an Android platform that connects scammers with citizens of India, whose job is […]
Reported by Matt Egan, CNN Uncle Sam has quietly deployed a new secret weapon designed to catch bad guys trying to steal from taxpayers: artificial intelligence. Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. The strategy mirrors what is already being done […]
Financial Crime News Briefs 