Reported by Chris Prentice Christy Goldsmith Romero, a commissioner of the Commodity Futures Trading Commission (CFTC), said in remarks at a conference that she is pushing for U.S. regulators to create a searchable, centralized database of financial misconduct that could make it easier for the public to arm themselves against fraudsters. While some regulators compile […]
Reported by Julie Manganis State Street Bank and Trust Co. willfully ignored red flags and violated anti-money laundering requirements to allow the transfer of $8.3 million worth of securities into an account controlled by a man later charged in an alleged $155 million Ponzi scheme, a lawsuit filed in Massachusetts state court alleges. The complaint, […]
Reported by Nabila Ahmed, Adam Haigh, Ainsley Thomson, and Ellie Harmsworth Computer-generated children’s voices so realistic they fool their own parents. Masks created with photos from social media that can penetrate a system protected by face ID. They sound like the stuff of science fiction, but these techniques are already available to criminals preying on everyday […]
Reported by Dylan Tokar Allianz last year agreed to pay about $6 billion to resolved its own liability for the market meltdown. PHOTO: BENJAMIN GIRETTE/BLOOMBERG NEWS A federal judge in New York declined to throw out fraud charges against a former Allianzfund manager who claimed he was double-crossed by his lawyers, citing the terms of a joint […]
Reported by Michelle Nichols North Korea continued developing nuclear weapons and producing nuclear fissile material in 2023 and evading United Nations sanctions that aim to cut off funding for Pyongyang’s nuclear and ballistic missile programs, according to an unpublished United Nations report seen by Reuters on Thursday. “After a record-breaking level of cyber thefts in […]
Reported by Madeleine Ngo Summary of original article shown below Federal prosecutors are working to recover pandemic aid funds obtained through fraudulent means. Many schemes involved false claims for relief funds intended to support the economy during Covid shutdowns. Some prosecutors are examining violent crime suspects for potential links to pandemic fraud, while others are […]
Reported by Editorial Staff of Traders Magazine When top financial market regulators on both sides of the Atlantic deliver speeches about the same technology within six days of each other, that’s a strong sign that technology is an important topic. This is the case with generative artificial intelligence, which Financial Conduct Authority Chief Executive Nikhil Rathi addressed on […]
Reported by Solomon Oladipupo US prosecutors are mulling over whether to initiate criminal charges against Binance, thereby turning the heat on 13 civil chargesfiled by the securities watchdog against the top crypto exchange earlier in June, Semafor reported today (Wednesday), citing insider sources. However, the Department of Justice (DOJ) is worried that such action could lead […]
Reported by Riah Pryor The recent sentencing of the Palm Beach art dealer Daniel Elie Bouaziz, after he pled guilty to laundering money from the sale of counterfeit works by artists such as Andy Warhol and Jean-Michel Basquiat, raised eyebrows in May. Not because of the crime (it is hardly the first time a Warhol has been faked) […]
Reported by Lauren Ohnesorge A man charged with misdirecting millions of dollars meant for Bibles into diamonds and real estate used a North Carolina shell company to launder the proceeds of his scheme, according to an unsealed federal indictment. Jason Gerald Shenk, a former resident of Dublin, Georgia, is now being sought on multiple federal […]
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