Tether Freezes $344mn in USDT in Coordination with OFAC
Tether froze more than $344 million in USDT across two addresses Thursday in coordination with the U.S. authorities, the stablecoin issuer announced, in one of the largest compliance actions in the company’s history.
U.S. Moves Against Asian Scam Centers, Sinaloa Supply Chain
U.S. officials on Wednesday struck at Southeast Asian scam compounds defrauding Americans and a global fentanyl supply chain, announcing criminal charges, sanctions, and the seizure of hundreds of fraudulent websites in a pair of coordinated enforcement actions.
FATF Calls on Italy to Fix Ownership Register, Tighten DNFBP Oversight
Italy has passed a sweeping review of its anti-money-laundering regime but must urgently fix a suspended corporate ownership registry and tighten oversight of non-financial businesses, the Financial Action Task Force (FATF) said in a report published on Thursday.
FINTRAC Warns of Rise in Extortion Schemes Targeting Indian Students
Canada’s financial intelligence agency has issued a bulletin warning banks and other institutions to be on alert for money laundering linked to an escalating extortion campaign targeting South Asian diaspora communities, particularly in British Columbia, Alberta, Manitoba, and Ontario.
Moldovan Oligarch Heads to Prison for Role in ‘Theft of the Century’
A Moldovan court on Wednesday sentenced oligarch and former political leader Vladimir Plahotniuc to 19 years in prison for his role in a massive bank fraud scheme that siphoned funds from three lenders in 2014.
Brazil’s PCC Has Grown from a Prison Gang to a Cocaine Superpower
Brazil’s First Capital Command, or PCC, has expanded from a prison gang founded in Sao Paulo state in 1993 into what authorities describe as the largest criminal group in the Americas, with some 40,000 members and affiliates operating in nearly 30 countries.
Cambodia’s Scam Economy Now Rivals Its Formal One
Cybercrime syndicates operating in Cambodia have grown so large and politically connected that the industry now rivals the country’s formal economy, with online scam networks accused of corrupting officials, enslaving workers, and defrauding victims around the world.
Daniel Kinahan, One of Europe’s Most Wanted Criminals, Arrested in Dubai
Daniel Kinahan, the Irishman long alleged to be one of Europe’s leading organized-crime figures and drug traffickers, has been arrested in Dubai on an Irish warrant and is expected to be extradited to Ireland.
For Insurers, Phony Claims Now Come with AI-Altered Photos
Fraud appears to be worsening in the UK’s insurance sector, driven in large part by the submission of phony claims backed by AI-altered images.
Congolese Rapper Gims Linked to International Money-Laundering Ring
New details about the allegations against the rapper Gims have emerged after French authorities charged the Congolese music star with money laundering linked to millions of euros in suspicious transactions.