Reported by Jo Becker and Justin Scheck Israeli security officials scored a major intelligence coup in 2018: secret documents that laid out, in intricate detail, what amounted to a private equity fund that Hamas used to finance its operations. The ledgers, pilfered from the computer of a senior Hamas official, listed assets worth hundreds of […]
Reported by the Commodity Futures Trading Commission The Commodity Futures Trading Commission today issued an order simultaneously filing and settling misappropriation-based fraud charges against Freepoint Commodities LLC, a commodities merchant in Stamford, Connecticut. The fraudulent and deceptive conduct spanned from 2012 to 2018 and involved unlawful misconduct designed to obtain material non-public information from a […]
Reported by Philip Heijmans and Niki Koswanage Malaysia’s government can’t rule out whether a local charity funneled millions of dollars to Hamas, according to officials familiar with the matter, as it probes the group for allegedly supporting a conservative Islamist organization in the Southeast Asian nation. Malaysia’s anti-graft body on Oct. 17 froze as many as 41 […]
Reported by Alex Mitchell A new report reveals a staggeringly high number of Gen Zers openly admitting to engaging in credit card fraud — with nearly half of them committing the financial crime, according to new data from anti-fraud company Sift. The research found that 42% of those aged 26 and younger admitted to filing a fraud claim […]
Reported by RNZ The Reserve Bank has issued a formal warning to the New Zealand branch of Citibank under anti-money laundering and counter terrorism financing laws. The warning relates to wire transfer identity requirements under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009. Citibank is one of the world’s largest banks and […]
Reported by Hugo Miller For the global wealthy with money to hide, it has long been helpful to have a Swiss company at your side. One with a nameplate, a letter-box, and no employees. But like banking secrecy over a decade ago, the Swiss shell-company industry is now facing a fundamental threat. In its fight […]
Reported by novayagazeta.eu Russia has imported at least 1,000 luxury cars worth a total of €93 million via Belarus in breach of EU sanctions since the start of the war in Ukraine, a joint investigation by independent media outlets Verstka and Buro with contributions from the Belarusian hacker collective Cyber Partisans revealed on Monday. Many […]
Reported by MICHAEL BROMBERG With cryptocurrency markets hovering at a global market capitalization of over $1.3 trillion, financial advisors are likely to encounter some clients who already own crypto and others with questions about investing in digital assets. Unfortunately, uncertainties around current and future regulations could create a quandary for financial advisors when they discuss […]
Reported by Emily Schmall Amazon has accused an international organization, including customers and several former employees, of conspiring to steal millions of dollars in online products through fraudulent refunds. In a lawsuit filed Thursday in the U.S. District Court in Seattle, the online retailer accused the group, called REKK, of perpetrating the fraud between June […]
Reported by Tara Siegel Bernard What was once a routine way to pay your bills — handwriting paper checks at the kitchen table, dropping envelopes into a blue metal box on the street — has become a high-risk endeavor: It provides the raw materials for low-level fraud artists and sophisticated crime rings, costing financial institutions […]
Financial Crime News Briefs 