Reported by Summer Said, Benoit Faucon and Stephen Kalin Iranian security officials helped plan Hamas’s Saturday surprise attack on Israeland gave the green light for the assault at a meeting in Beirut last Monday, according to senior members of Hamas and Hezbollah, another Iran-backed militant group. Officers of Iran’s Islamic Revolutionary Guard Corps had worked with […]
Reported by Market Screener The Securities and Exchange Commission today charged Exelon Corporation, electric utility company Commonwealth Edison Company (ComEd), which is Exelon’s subsidiary, and former ComEd CEO Anne Pramaggiore with fraud in connection with a multi-year scheme to corruptly influence and reward then-Speaker of the Illinois House of Representatives Michael Madigan. Exelon and ComEd agreed to settle the charges, with Exelon paying a […]
Reported by HELEN PARTZ AirBit Club co-founder Dos Santos is now the last AirBit defendant not yet sentenced but is scheduled to learn his fate on Oct. 4, 2023. The United States District Court for the Southern District of New York is progressing with the sentencing procedure for key individuals behind the cryptocurrency Ponzi scheme […]
Reported by Eleanor Butler with AFP Criminals first pay musicians through a cryptocurrency transaction, which is more difficult to trace than a traditional payment. The artists will then be paid for streaming their songs, and the criminal can collect the cleaned money. The music platform nonetheless assured AFP that “less than 1% of all streams […]
Reported by Nicole Goodkind, CNN (Summarized version presented below) The Senate Banking Committee recently approved the SAFER Banking Act, a groundbreaking bill aimed at bridging the gap between financial institutions and cannabis companies. This bill, which has been in committee discussions since 2015, is now heading to the Senate floor for the first time after […]
Reported by Nicole Hong, Tracey Tully and William K. Rashbaum Just five years ago, Wael Hana was reeling from a string of bad business deals in New Jersey, having tried to launch a truck stop, an Italian restaurant, a limousine service and other companies without ever hitting it big. Then, his friend started dating Senator […]
Reported by Jane Dalton Billionaire co-founder and chief executive of Louis Vuitton (LVMH), Bernand Arnault, is being investigated over his links to a Russian oligarch. Prosecutors in Paris are investigating financial transactions involving the French tycoon – the world’s second richest man – and businessman Nikolai Sarkisov. The inquiry is centred on property purchases in […]
Reported by Eve Sampson Criminal networks in Europe are increasingly mixing illicit finances with seemingly legal businesses, and exploiting new technology to grow their operations and launder money faster than authorities can keep up, a new Europol report revealed. Nearly 70% of criminal elements operating in the European Union use money-laundering techniques to garner revenue […]
Reported by Taylor J. Mustafa Due to burgeoning concerns of financial crime, and increased activity of fraudsters and scammers, JP Morgan’s Chase UK bank has made the decision to ban their customers from making future cryptocurrency payments. The company states that the ban, which will come into effect from October 16th, will apply to all […]
Reported by Henry Foy Russia is using Chinese currency for at least a fifth of its imports, a new study has found, illustrating both Moscow’s increasing reliance on Beijing and its efforts to evade western sanctions. Context: Sanctions imposed on Moscow by the EU, US and others as a result of its war against Ukraine have made […]
Financial Crime News Briefs 