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Chinese Police Make First Arrest For CBDC Money Laundering

Chinese officials have arrested members of a criminal group charged with alleged money laundering using the country’s CBDC, the digital yuan. The news implies the Chinese government and law enforcement will have greater control and oversight over financial activities in the country with its CBDC. By Tim Fries, The… Read More

Pioneer Bank strengthening money laundering controls after Mann fraud

In the months after one of Pioneer Bank’s biggest business customers admitted to a $101 million bank fraud scheme, federal regulators found the bank’s anti-money laundering controls to be “fundamentally and materially deficient,” according to allegations made in a filing made last month in federal court. By Larry Rulison, Times… Read More

Facebook says it just uncovered one of the largest troll farms ever — run by the government of Nicaragua

One of the most sweeping state-run “troll” operations was taken down this week after researchers uncovered hundreds of accounts linked to the Nicaraguan government that were focused on slandering its political opposition, Facebook announced on Monday. By Charles Davis, Business Insider, 1 November 2021 Read more at Business Insider… Read More

3rd November 2021

Climate Summit urged to implement wildlife trade solutions to tackle climate change

Climate change presents the most existential threat to people and nature today. The increasing frequency of extreme storms, floods, droughts and wildfires are bleak warnings of what we face if the global community does not act now. Climate change also presents a severe threat to livelihoods and economies. It is… Read More

27th October 2021

Petrofac in £180m cash call to fund SFO bribery settlement

Petrofac, the London-listed oil group, will this week unveil plans to tap shareholders in a £180m fundraising that will be used in part to pay a Serious Fraud Office (SFO) fine for bribery offences. By Mark Kleinman, Sky News, 25 October 2021 Read more at Sky News… Read More

27th October 2021

150 Arrested in Dark Web Drug Bust as Police Seize €26 Million

Police forces across the world have arrested 150 alleged suspects involved in buying or selling illicit goods on the dark web as part of a coordinated international operation involving nine countries. More than €26.7 million (USD 31 million) in cash and virtual currencies have been seized in this operation, as… Read More

27th October 2021

Vista CFO May Testify Against Billionaire Brockman in Fraud Case

The chief financial officer of Vista Equity Partners may testify at a hearing in the largest tax-evasion case ever brought in the U.S. against an individual, a prosecutor said Monday. The case involves billionaire Robert Brockman, a former Houston software executive accused of evading taxes on $2… Read More

26th October 2021

DHS Secretary: “Killware,” Malware Designed To Do Real-World Harm, Poised To Be World’s Next Breakout Cybersecurity Threat

Ransomware is the current king of the cybersecurity threat landscape, in part because of a demonstrated willingness by criminal groups to escalate to real-world damage to infrastructure. U.S. Department of Homeland Security Secretary Alejandro Mayorkas thinks that things are poised to go a step further in that direction in the… Read More

25th October 2021

UK: City watchdog buried finding that top bosses ‘missed opportunity’ to stop investment scams

The City watchdog buried its own finding that its top bosses missed an opportunity to stop scammers pushing investments which later collapsed with almost £70m of savers’ cash, internal correspondence indicates. The documents raise further questions about Bank of England governor Andrew Bailey’s failure to stop an… Read More

25th October 2021

Outcomes FATF Plenary, 19-21 October 2021

Delegates representing the 206 members of the Global Network and observer organisations, such as the IMF, the United Nations and the World Bank met for three days of meetings. After five completely virtual Plenary events due to the COVID-19 pandemic, this Plenary meeting took place in a hybrid format, allowing… Read More

25th October 2021

UK: Fraud prosecutors concealed misconduct files in bribery inquiry, court hears

Senior prosecutors at the Serious Fraud Office have been accused of keeping secret key documents that detailed their misconduct in one of their biggest bribery investigations. Lisa Osofsky, the SFO director, and senior colleagues have been criticised for maintaining improper contact with a US private investigator during… Read More

22nd October 2021

U.S. charges 5 people with money laundering in alleged Venezuela bribery scheme

Five individuals, including a politician from Venezuela’s ruling party and an associate of a businessman close to President Nicolas Maduro, have been charged with money laundering in connection with an alleged Venezuela bribery scheme, the U.S. Department of Justice said. Read More

22nd October 2021

Cyprus to Revoke 45 Golden Visas Issued Illegally

By Henry Pope, OCCRP, 20 October 2021 OCCRP — Authorities in Cyprus announced on Friday that they are potentially revoking the citizenship of at least 45 people after a probe found that more than half of those who were issued passports through a now terminated citizenship-for-investment program should… Read More

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Chinese Police Make First Arrest For CBDC Money Laundering

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Pioneer Bank strengthening money laundering controls after Mann fraud