All Financial Threats articles – Page 9
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NewsBank of Russia reports ‘surge’ in illegal financial services offered online
The central bank of the Russian Federation has identified more than 1,500 organisations suspected of engaging in illegal financial service activity in 2020, as online fraud “surged” during the Covid-19 pandemic.
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NewsYellen warns of ‘explosion’ in fraud, cybercrime, cryptocurrency misuse and laundering
The new US Treasury Secretary has warned of the need to tackle rising financial crime, cryptocurrency misuse and cyber attacks.
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NewsCrown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
Crown Resorts deemed unsuitable to run $2.2bn Sydney casino due to money laundering concerns
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NewsUK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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NewsLuxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.
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NewsFounder of $90 million cryptocurrency hedge fund admits securities fraud
A 24-year-old Australian national is facing up to 20 years in prison in the United States (US) after defrauding investors in his cryptocurrency hedge fund out of $90m and then attempting to steal from a second fund.
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NewsUS seizes Iranian oil tanker over alleged terrorist group funding links
The United States has seized an Iranian oil tanker and is seeking a forfeiture order over alleged links to terrorist financing.
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NewsUK Serious Fraud Office loses legal fight to compel foreign business to hand over documents
The United Kingdom’s Serious Fraud Office (SFO) has lost a court battle over whether it has the power to compel foreign businesses to hand over documents held overseas.
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NewsGerman regulator orders Goldman Sachs to comply with AML law
Germany’s financial watchdog has ordered Goldman Sachs to comply with anti-money laundering legislation.
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News50 US banks deceived through shell companies in laundering operation
Police have arrested more than 100 members of a criminal gang accused of laundering €12 million through 50 different U.S. banks.
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NewsHead of German financial regulator leaves post over Wirecard scandal
Felix Hufeld, the President of the Federal Financial Supervisory Authority (BaFin), will leave his post as part of a reorganisation of the German regulator following the Wirecard scandal.
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NewsCryptocurrency crime drops overall but ‘DeFi’ thefts rise, report reveals
Decentralised finance (DeFi) is the “next major threat vector for fraud and money laundering”, accounting for half of crypto thefts in 2020, according to a new report.
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NewsRUSI argues for national security response to tackle fraud ‘epidemic’
A UK thinktank has called for fraud to be considered a ’national security priority’ backed by a new public-private strategy.
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NewsChina’s clampdown on payment providers is necessary to protect international financial ecosystem
The authorities in China are seeking to expand anti-money laundering supervision of non-bank payment providers and have also stepped up fines. Jose Caldera explains why this is needed.
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NewsThree financial institution staff arrested in UK as concern grows over Covid-19 loan scheme fraud
Three men working for a financial institution have been arrested in the United Kingdom as part of a probe into suspected fraudulent claims totalling £6million made through the Covid-19 Bounce Back Loan Scheme (BBLS)
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NewsSpanish and US authorities ‘dismantle’ group laundering money for South American drug cartels
A criminal network which laundered money and used hitmen to collect cash throughout Spain for South American drug cartels has been “dismantled”, Europol has said.
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NewsEuropean Commission takes aim at unilateral sanctions by ‘third-countries’ as it unveils strategy to strengthen financial system
The European Commission has published a new strategy to strengthen Europe’s financial system, including measures to tackle the impact of ‘unlawful’ unilateral sanctions imposed by ‘third-country partners’.
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NewsThree in 10 financial services employees ‘unaware slavery exists in the UK’, report finds
Three in 10 employees in the financial services sector are unaware that modern slavery exists in the UK, a report has found.
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News€4.5m seized in Latvia following probe into flower-selling business ‘used to disguise money laundering’
Authorities in Latvia have seized assets worth €4.5m following an investigation into an organised group’s alleged use of a flower-selling business to disguise large-scale money laundering
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NewsSARs filing rises for three quarters of senior AML compliance decision-makers, survey finds
Nearly three-quarters of senior AML decision-makers reported an increase in Suspicious Activity Reporting last year as criminals sought to exploit Covid-19 disruption, research out today has revealed.
