21st September 2017
British businesses lost at least £40m last year from frauds perpetrated by their own employees, with London accounting for the largest chunk by far, figures show. Losses from employee fraud were highest in the Greater London area covered by the Metropolitan Police, at £7m in 2016/17, according to government figures… Read More
19th September 2017
JPMorgan has been routing customer orders for bitcoin-related instruments, a spokesman said on Monday, despite the bank’s chief executive’s calling the crypto currency “a fraud.” Like other Wall Street banks, JPMorgan acts as an agent for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value… Read More
4th September 2017
Two US agencies, along with the Federal Bureau of Investigation, have warned potential donors wishing to aid victims of Hurricane Harvey that unscrupulous scammers may set up shop in the storm’s wake. The Federal Trade Commission and the US Computer Emergency Readiness Team warned that phishing scams and bogus e-mail… Read More
31st August 2017
The rise of initial coin offerings in China has disrupted the social economic order and poses a financial risk, a domestic trade group said. Institutions have misled investors to raise funds through ICOs, the National Internet Finance Association of China, an organization endorsed by the State Council and top finance… Read More
23rd August 2017
Outspoken theatre and film director Kirill Serebrennikov has been charged with large-scale fraud by Russia’s investigative committee. He pleaded not guilty in court to embezzling 68m roubles (£880,000; $1.1m) of state funding awarded for a theatre project, officials said. Read More
21st August 2017
UK lawyers acting for around 50 people defrauded by scammers after a major data breach at TalkTalk in 2014 are discussing their next move, which victims hope could herald the start of legal action against the broadband firm. Last week the Information Commissioner’s Office (ICO) announced it was fining TalkTalk… Read More
17th August 2017
People in Jersey are being urged to be extra vigilant following a series of targeted attempts to defraud Jersey companies and their clients. The Jersey Financial Services Commission are warning local businesses and members of the public to be careful after at least three cases surfaced, where locally registered business… Read More
17th August 2017
Authorities in Cambodia have arrested nearly 400 Chinese and Taiwanese nationals this month on suspicion of operating a telecoms scam to defraud victims in China, police said. China has been battling telecoms fraud that has cost billions of dollars in financial losses, say authorities in Beijing who accuse Taiwan of… Read More
17th August 2017
Britain’s Serious Fraud Office earned taxpayers more than £1 million for each of its employees last year after a record run of success, figures have revealed. The statistics show that £516.8 million was paid into Treasury coffers by the SFO during the 12 months up to the end of the… Read More
In this exclusive Of Counsel piece, Julie Copeland and Mirella A. de Rose of Lewis Baach pllc, consider two recent events which highlight the importance of real time monitoring of suspicious transactions. Read More