Reported by Sean Keach, Head of Technology and Science SINISTER crooks are peddling fake Super Bowl tickets online – and it could cost you hundreds of dollars. Tech-savvy cyber-criminals have even resorted to using AI to make more convincing fakes, security experts have warned. Some fans will be forking out thousands of dollars for legitimate tickets. […]
Reported by Richard Vanderford The rapid growth of the sports betting sector and a lack of uniform regulations contribute to “significant and increasing money-laundering risks,” the Treasury said Wednesday as part of an expansive report on money-laundering concerns. An estimated 67.8 million Americans are expected to bet on Sunday’s Super Bowl, a 35% increase from […]
Reported by Lynn Kawano Hundreds of items of fake NFL merchandise have been seized in recent days in Las Vegas, ahead of the Super Bowl. Agents with Homeland Security Investigations always hit flea markets and street vendors looking for counterfeit products as fans from all over the world descend on the host city. Jim Mancuso, […]
Reported by Associated Press The Biden administration wants to make residential real estate transactions more transparent by unmasking the owners of certain all-cash purchases. It’s part of an ongoing effort to combat money launderingand the movement of dirty money through the American financial system. The Treasury Department’s Financial Crimes Enforcement Network proposed a regulation on Wednesday that would […]
Reported by Sabrina Willmer Brandon Charnas, already famous for being married to a social media icon, and infamous for refusing to cooperate with an insider-trading probe, is advancing into notoriety. Not only is the US Securities and Exchange Commission looking at the $385,000 the regulator says he made using potentially non-public information about a bid […]
Reported by Comply Advantage In 2023, the rising complexity of financial crime led regulators to increase the penalties imposed on financial institutions (FIs) for insufficient anti-money laundering (AML) controls. As a result, the top penalties for non-compliance almost doubled in value. In this article, we examine some of the highest fines imposed for AML violations […]
Reported by Nicholas Kuria In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the BVI. We will begin with an overview of the tax position. The British Virgin Islands has […]
Reported by Dalton Bennett, Mary Ilyushina, Lily Kuo and Pei-Lin Wu It had been a busy year for the employees gathered in June for I Machine Technology’s corporate retreat at a resort on Russia’s Black Sea coast. With war raging in Ukraine, the Russian defense industry was hungry for the advanced manufacturing equipment the Moscow-based […]
Reported by Miles Johnson, Stephen Morris and Lucy Fisher Iran used two of the UK’s biggest banks to covertly move money around the world as part of a vast sanctions-evasion scheme backed by Tehran’s intelligence services. Lloyds and Santander UK provided accounts to British front companies secretly owned by a sanctioned Iranian petrochemicals company based near Buckingham […]
Reported by Gabrielle Saulsbery Blue Ridge Bank has found itself in regulatory crosshairs again, leading to a consent order with the Office of the Comptroller of the Currency issued January 24. Blue Ridge’s primary federal regulator deemed the bank in “troubled condition” after the fintech-focused bank’s alleged continuous failure to establish and maintain a strong and […]
Financial Crime News Briefs 