Reported by Lucy Colback Stick ’em up Ransomware is a ubiquitous problem. In a traditional ransomware attack, in which files are encrypted and users’ access disabled, “you have between 45 seconds and four hours before your entire network is done”, says Mick Baccio, global security adviser at Splunk, a cyber security company. One UK/US crime group, Scattered […]
Reported by TOM MITCHELHILL A GameStop investor who sued Keith Gill, known as Roaring Kitty, over alleged securities fraud, dropped his lawsuit just three days after filing it. Plaintiff Martin Radev dropped the suit after submitting a voluntary motion to dismiss in the United States District Court for the Eastern District of New York. It […]
Reported by Harry Suhartono Six single family office funds linked to a S$3 billion ($2.2 billion) money laundering case in Singapore have received tax incentives from the Monetary Authority of Singapore. The tax benefits were withdrawn starting from the financial year the owners of these family office funds or their spouses were charged or convicted, […]
Reported by Selena Kuznikov Morgan Freeman shared a note giving thanks to his fans Friday morning, expressing gratitude for users’ efforts calling out unauthorized AI imitations of the actor’s recognizable voice. The celebrated 87-year-old actor has become legend for his narration in films such as “March of the Penguins,” “The Shawshank Redemption” and “Million Dollar Baby.” […]
Reported by Lydia Beyoud Silvergate, the California lender done in by the collapse of crypto exchange FTX, agreed to pay $63 million to settle state and federal probes on Monday. The Federal Reserve announced the penalties against the bank, owned by Silvergate Capital Corp. The Fed portion of the fine is $43 million, and the California Department of Financial Protection […]
Reported by Anna Lamche A Panamanian court has acquitted all 28 people charged with money laundering in connection with the Panama Papers scandal, concluding a trial that began in April. The secret financial documents were leaked in 2016, revealing how some of the world’s richest and most powerful people use tax havens to hide their […]
Reported by Jodi Vittori and Lakshmi Kumar Summary Sovereign wealth funds (SWFs) have existed for more than a century, typically as state-sponsored financial institutions to manage a country’s budgetary surplus, accrue profit, and protect a country’s wealth for future generations. Yet, for economies of the Organisation of Economic Co-operation and Development (OECD), SWFs only burst into public […]
Reported by Dave Michaels It is a safe harbor executives have enjoyed for 25 years to protect against insider-trading charges: commit to sell slices of their portfolio in the future, regardless of market events. The strategy helps company insiders show they aren’t trading on secrets unknown to investors. But jurors on Friday didn’t buy that […]
Reported by Alessandro Mascellino Security researchers have uncovered a significant increase in dark web activity involving stolen identity information from Singapore citizens. In an advisory published on Monday, Resecurity said cybercriminals are selling these stolen documents, which can be used for fraud, identity theft, impersonation scams and to bypass Know Your Customer (KYC) protocols. Resecurity […]
Reported by NICLAS ROLANDER, JONAS EKBLOM AND BLOOMBERG Ellen Bagley was delighted when she made her first sale on a popular second-hand clothing app, but just a few minutes later, the thrill turned to shock as the 20-year-old from Linköping in Sweden discovered she’d been robbed. Everything seemed normal when Bagley received a direct message on the platform, […]
Financial Crime News Briefs 