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USA: Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global Resolution

Credit Suisse Group AG, a global financial institution headquartered in Switzerland, and Credit Suisse Securities (Europe) Limited (CSSEL), its subsidiary in the United Kingdom (together, Credit Suisse), have admitted to defrauding U.S. and international investors in the financing of an $850 million loan for a tuna fishing project in Mozambique,… Read More

The mystery of the missing £50bn

One Saturday evening last October, a young woman called Tara Hanlon arrived at Heathrow airport with five suitcases. When a customs officer asked why she had so much luggage, she explained that she was going to Dubai with friends and didn’t know what she might want to wear. Hanlon’s long… Read More

UK: Scams – Cost of impact on wellbeing calculated as £9bn a year

The cost to scam victims’ wellbeing can be calculated at a monetary total of £9.3bn a year, according to the consumer group Which?. That is the equivalent of £2,509 a year for each victim, but the impact can be higher for someone hit by online fraud. By Kevin Peachey, BBC,… Read More
18th October 2021
The University of Cambridge has broken off talks with the United Arab Emirates over a record £400m collaboration after claims about the Gulf state’s use of controversial Pegasus hacking software, the university’s vice-chancellor has said. By Richard Adams, Georgia Goble and Nick Bartlett, The Guardian, 14 October 2021 Read more… Read More
12th October 2021
If you are surprised by the Pandora papers, and their revelations of greed and murk in the private affairs of the super-rich and super-powerful, you are not paying attention. Previous P-themed tranches of documents — Panama (2016) and Paradise (2017) — showed just the same thing. Campaigners huffed, politicians puffed. Read More
11th October 2021
The Treasury is to overhaul the role of financial regulators to ensure they do more to boost the international competitiveness of the City after Brexit. John Glen, the City minister, told insurers and banks this week that regulators including the Financial Conduct Authority needed to “smell the… Read More
8th October 2021
NatWest said “we deeply regret” failing to “adequately monitor and therefore prevent money laundering by one of our customers between 2012 and 2016”. The state-backed bank, formerly Royal Bank of Scotland, is the first British lender to admit such an offence. Lawyers told a court hearing that NatWest faces a… Read More
7th October 2021
The Pandora papers data leak has once again highlighted the predatory practices of the world’s political and financial elites – enriching themselves by looting the public purse, or exploiting laws which they themselves helped to establish. About $3.6tn (£2.6tn) of the proceeds from bribery,… Read More
5th October 2021
By Miranda Patrucic, Ilya Lozovsky, Kelly Bloss, and Tom Stocks, OCCRP, 3 October 2021 OCCRP — For centuries, London has been one of the world’s top destinations for shopping, dining, and good living. And a development boom over the last few decades has only expanded the range… Read More
30th September 2021
The U.K.’s Serious Fraud Office is investigating the Alpha and Green Park group of companies for suspected fraud and money laundering following a dawn raid, the prosecutor said in a statement. By Ellen Milligan, Bloomberg, 29 September 2021 Read more at Bloomberg RiskScreen: Eliminating Financial… Read More
23rd September 2021
UK Finance today releases its latest fraud report covering the first half of 2021. This report shows the scale of fraud taking place as well as demonstrating how criminals have shifted their focus to exploit weaknesses outside the banking system. Changing nature of fraud In previous years the largest… Read More
22nd September 2021
Five people have been arrested in dawn raids after a luxury yacht was stopped with 2.3 tonnes of cocaine on board. The National Crime Agency (NCA) said four men aged between 28 and 57 and one woman aged 53 were held on suspicion of conspiracy to supply Class A drugs… Read More
21st September 2021
By Scott Pham, Buzzfeed News, 20 September 2021 Buzzfeed News — One year ago today, BuzzFeed News and the International Consortium of Investigative Journalists published the FinCEN Files, the largest reporting project ever undertaken, which revealed how terrorists, kleptocrats, and organized criminals laundered enormous sums of… Read More