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.
Covered Institutions
OFAC Blacklists Five Nicaraguan Officials for Alleged Abuses of Power
The U.S. on Thursday blacklisted five senior Nicaraguan officials for their alleged role in helping Nicaragua to consolidate authoritarian power through financial controls, labor policy, surveillance, and military intelligence operations.
Epstein Files Shine a Rare Light on ‘Family Office’ Investments
A U.S. Justice Department release tied to the Jeffrey Epstein investigation has unexpectedly pulled back the curtain on “family offices”—the private, often home-office-style investment operations used by many of the world’s wealthiest families.
FinCEN Levies Sec. 311 Against Switzerland’s MBaer Bank
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday proposed a Section 311 “special measure” that, if finalized, would cut MBaer Merchant Bank AG off from the American financial system.
Tariff Evasion and Fraud Seen Behind Record Gap in U.S.-China Trade Data
A record mismatch in official trade statistics is complicating efforts to measure how far the U.S. and China have “decoupled,” according to Bloomberg, which cited an $112-billion gap between what Beijing said it exported to the United States and what U.S. Customs and Border Protection recorded as arriving.
TFI’s Hurley to Exit After Objecting to Minneapolis Crackdown
A senior Treasury Department official is preparing to resign after privately raising objections to a White House-backed initiative aimed at alleged fraud tied to the Somali immigrant community in Minnesota.
OCC Proposes First Stablecoin Rules Under the GENIUS Act
The OCC proposed a regulatory framework to implement the GENIUS Act, outlining requirements for stablecoin issuers and for certain stablecoin-related custody activities.
Waste Crime Is Rising as Management Market Reaches $1.2tn in Value
Waste crime and trafficking is expanding globally, fueled by profit incentives in a fast-growing waste-management industry and compounded by major blind spots in official data, according to a newly released report by the UN Office on Drugs and Crime (UNODC).
New Details Emerge on Epstein’s Dealings with Two Favored Banks
Newly released U.S. Justice Department emails and documents offer a deeper look at Jeffrey Epstein’s unusual relationship with JPMorgan Chase & Co. and Deutsche Bank AG courted, reports by Bloomberg and the Financial Times show.
Australia Has a Serious Coke Problem
Australia’s booming cocaine consumption among affluent professionals has helped turn the country into the world’s unlikely cocaine capital, fueling criminal networks linked to murder, human trafficking, and extortion.