EU to Publish Plan to Fight Digital Fraud Later this Spring
The European Commission is preparing to unveil an action plan against digital fraud before the summer as it seeks to strengthen the European Union’s response to a surge in online scams and cyber-enabled financial crime.
Cash Is No Longer King of U.S.-Mexico Remittances
Digital money transfers have overtaken cash for the first time in the U.S.-to-Mexico remittance corridor, marking a shift in the world’s largest flow of cross-border family payments and intensifying pressure on traditional cash-based providers.
OFAC Targets Hamas-Linked Charities, DPRK-Linked IT Worker Schemes
The U.S. Treasury Department on Thursday announced two new sanctions actions targeting financing and revenue-generation networks tied to Hamas and the Democratic People’s Republic of Korea.
As Chen Zhi’s Pig-Butchering Empire Grew, So Did His Financial Footprint
Once celebrated as a philanthropist and real estate magnate, Cambodian tycoon Chen Zhi built a web of political influence and banking relationships that helped shield what authorities now describe as a vast transnational scam and gambling syndicate.
DOJ Outlines Path to Non-Prosecution for Corporate Crimes
The Justice Department released its first department-wide corporate enforcement policy for criminal matters, establishing a uniform framework for how prosecutors handle corporate cases across the department, except antitrust matters.
Will Dubai’s Business-Haven Brand Be a Casualty of War?
Dubai has cultivated an image as the safest haven for global capital in the Middle East, but Iranian strikes on the emirate are putting that image to a test.
Telegram Messaging App Increasingly Exploited by Fraudsters, Revolut Finds
The messaging platform Telegram has become a hub for job scams and other forms of fraud, Revolut is warning.
FATF Warns on Global Rise in Cyber-Enabled Fraud
Cyber-enabled fraud is rapidly expanding in scale and sophistication as criminals exploit digital platforms, instant payments, and virtual assets to move illicit proceeds across borders, an intergovernmental watchdog said on Tuesday.
Brazil Looks to Close Two Loopholes Used to Dodge Asset Freezes
Brazil’s Finance Ministry has urged the country’s central bank to tighten regulation around pooled and escrow accounts that authorities say are being used by bad actors to circumvent asset freezes, according to Reuters.
Revolut Drops Plans to Buy U.S. Lender, Looks to OCC for Banking Charter
Revolut has dropped plans to buy a U.S. lender as a means to get a foothold in the American market and will instead apply for a banking license from the Trump administration, the Financial Times reported.