Reported by: Natalie Runyon Director / ESG content & Advisory Services / Thomson Reuters Institute Greenwashing allegations continue to make headlines, but only recently have they started to impact the stock price of companies that are accused of the offenses. However, are these incidents considered fraudulent? It depends on whom you ask. Vincent Walden, CEO of Kona AI […]
Reported by: KALI COLEMAN Robokiller, an app dedicated to combating these calls, recently released its 2022 Mid-Year Phone Scam Report, detailing how prevalent this problem really is. According to the report, Americans have already received an estimated 40 billion spam calls between Jan. and June 2022 alone. It’s projected that by the end of this […]
Reported by: U.S. Department of Justice A New York man pleaded guilty in the Eastern District of New York to money laundering for his role as the owner and operator of a voice over internet protocol (VoIP) company that facilitated and profited from the introduction of fraudulent robocall traffic into the United States. Jon J. […]
Reported by: MacKenzie Sigalos The Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should evolve to make borderless transactions easier, and how to crack down on fraud in the digital asset space. The new directives […]
Reported by: Shalini Nagarajan The Securities and Exchange Commission (SEC) continues to enforce legal action against bad actors in the crypto industry as regulators take steps to bolster investor protection laws. Chicago Crypto Capital and three of its personnel were accused of defrauding investors by offering unregistered cryptoasset securities, an announcement on Wednesday showed. The crypto broker’s […]
Reported by: Jeremy Sharon According to the Israel Money Laundering and Terror Financing Prohibition Authority, which operates under the Justice Ministry, organized crime’s share of all financial crimes grew from 6.8 percent in 2020 to 19% in 2021. Organized crime in the Arab sector has become a severe problem in recent years. The scarcity of […]
Reported by: Richard Nalley According to a study by industry group ABL (American Beverage Licensees), wine fraud today is an estimated $9 billion a year global problem, costing thousands of legitimate industry jobs and depriving governments of billions in tax revenues. The criminal activity encompasses Ponzi schemes, burglary, bank fraud, con jobs, smugglers, mysterious warehouse […]
Reported by: Cristiano Lima and Aaron Schaffer In recent months, the Federal Trade Commission has reported that social media is increasingly becoming a premier target for fraudsters, especially those looking to cash in on the crypto craze sweeping the country. In June, the agency released data showing that nearly half the people who reported losing […]
Reported by: Corinne Ramey and Ben Foldy Trevor Milton, the Nikola Corp. founder who enticed auto-industry leaders and investors with his promise for a revolution in electric trucks, faces a securities-fraud trial beginning this week on allegations that he lied about his company’s development of environmentally friendly technology. Federal prosecutors in Manhattan last year accused […]
Reported by: Hugo Lowell Top former Trump strategist Steve Bannon has been charged in New York with money laundering, conspiracy and scheme to defraud in connection with his role in a fundraising effort to privately underwrite the construction of the US-Mexico border wall, according to the indictment unsealed on Thursday. The indictment includes two counts […]
Financial Crime News Briefs 