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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

Canada: B.C. casinos used foreign high rollers as money-laundering ‘pawns,’ inquiry hears

In 2012, an RCMP investigation reported that Richmond’s River Rock Casino and New Westminster’s Starlight Casino “are a very significant source of money-laundering activity, using wealthy People’s Republic of China gamblers as willing pawns in their activity.” The confidential RCMP document that makes this explosive allegation —… Read More
19th October 2021
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
19th October 2021
A Tunisian court on Sunday ordered a lawmaker to be detained over suspected tax fraud and money laundering – the fourth parliamentarian to be taken into custody since President Kais Saied seized near total control of the country in July. By Tarek Amara, Reuters, 17 October 2021 Read more at… Read More
14th October 2021
Police in China’s southwest region busted a group that was using cryptocurrencies to launder stolen money, which involved 800 million yuan (US$124 million), according to local media. Authorities in Zunyi, a city in China’s Guizhou province, were on the case for two months, following a directive from the State Council,… Read More
5th October 2021
The police searches were conducted at the request of Zürich’s cantonal public prosecutor earlier this week. The prosecutor has opened a criminal investigation into Greensill’s activities and the way in which Credit Suisse funds that financed the British firm’s contentious lending schemes were managed and marketed, according to two people… Read More
5th October 2021
he job advert seemed timely. It offered between £500-£1,000 a week to work from home as an agent for cryptocurrency transactions. Lauren*, 21, was heavily in debt after a period of unpaid sick leave and leapt at the chance to rebalance her finances. “It had been promoted on social media… 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
By Damiir Beslija, OCCRP, 23 September 2021 OCCRP — The Department of Justice last week announced criminal charges against 138 doctors, nurses and licenced medical professionals for their alleged involvement in fraud schemes worth around US$1.4 billion. Authorities accused 43… 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
21st September 2021
A lawyer for former Alan Weisselberg, the indicted Trump Organization chief financial officer, told a New York judge on Monday he has “strong reason to believe” more charges will be forthcoming in the state’s continuing criminal investigation into former President Donald Trump’s private real estate empire. Lawyer Bryan Scarlatos… Read More
21st September 2021
More than 100 people have been arrested in Spain and Italy following a joint investigation into money laundering. The sting targeted an Italian mafia gang on the Spanish island of Tenerife, who are accused of laundering more than €10 million. The group is alleged to have made its money through… Read More