Reported by Michael Kaplan A shoplifting epidemic costing retailers in New York state $4.4 billion a year is creating a shadow re-sale economy that ranges from eBay to bodegas, The Post has learned. Shoplifting in New York City alone rose 64% from June 2019 to June 2023, according to the Council on Criminal Justice. In 2022, […]
Reported by The Local dk Denmark’s financial sector regulator said on Tuesday that the bank Spar Nord carries a ‘high risk’ of being used for money laundering and financing of terror activities. The assessment was announced by the Danish Financial Supervisory Authority (Finanstilsynet) in a statement in which it also said it had issued Spar […]
Reported by Robert Huish, Dalhousie University How have 16,000 strategic sanctions issued by some of the most powerful economies in the world failed to derail Putin? As I recently watched the news break on CBC about Russia’s robust economy, an advertisement from the World Gold Council popped onto the screen. And there was the answer, hiding in […]
Reported by Craig Silverman and Peter Elkind Only a few hours elapsed between the time that Carl’s pay landed in his checking account and when online thieves pilfered it. “They took all of it but like 67 cents,” he said. Months before, Carl had signed up for One Finance, a banking app. It’s owned and […]
Reported by the Athennian Team list the ultimate, natural owners of assets. These registries address the problem of understanding who happens to own, control, and influence a large asset, namely a company or a property. Oftentimes, criminals are known to secretly own or control shares in companies where they use these entities to launder stolen […]
Reported by Mengqi Sun EFG International agreed to pay about $3.7 million to settle allegations the Swiss private bank violated U.S. sanctions by holding and investing securities on behalf of blacklisted individuals, the U.S. Treasury Department said. Between 2014 and 2018, Zurich-based EFG allegedly processed 868 securities transactions for customers in Cuba and for a […]
Reported by Stanley Foodman On February 2024, the U.S. Treasury released the 2024 National Money Laundering Risk Assessment (NMLRA)which examines the current money laundering environment and identifies the ways in which criminals and other actors seek to launder funds. The Assessment aims to: inform the understanding of illicit finance risk by governmental and private sector actors, […]
Reported by Isabel Keane California mom-of-three has been accused of masterminding an organized crime ring that stole nearly $8 million worth of makeup from stores like Ulta, T.J. Maxx and Walgreens — and then re-sold it online to churn a profit. Michelle Mack, 53, ran the sprawling enterprise from her $2.75 million, 4,500-square-foot mansion in […]
Reported by ANDY GREENBERG In his years as a US federal agent, Tigran Gambaryan helped to lead landmark investigations that took down cryptocurrency thieves and money launderers, dark-web drug dealers, and even crypto-funded child exploitation networks. Now, in his post-government role at the cryptocurrency exchange Binance, he has become the target himself of a very […]
Reported by HENRY POPE While synthetic opioids claim tens of thousands of American lives every year, illicit fentanyl and money laundering converge in a shadowy underworld that thrives thanks to enablers exploiting loopholes in U.S. anti-money laundering laws not seen elsewhere in the West. Transnational organized crime figures launder the blood money through professionals exploiting […]
Financial Crime News Briefs 