When the ‘Person with Significant Control’ Isn’t Really a Person
Two cryptocurrency exchanges registered in the United Kingdom and marketed as processing more than $1 billion a day were fronted by a purported executive who “doesn’t seem to exist” and was instead portrayed using stock footage, OCCRP reported.
Peter Mandelson Faces Anti-Fraud Probe Over Epstein Revelations
Peter Mandelson is facing scrutiny from the EU anti-fraud office after the European Commission asked investigators to examine his conduct during his tenure as the bloc’s trade commissioner.
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.
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.
Germany to Overhaul How It Fights Criminal Syndicates and Financial Crime
Germany will overhaul its core federal security agencies and deploy artificial intelligence as part of a crackdown on organized crime, related money laundering, and other financial crimes, Reuters reported Wednesday.
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.
Senator Launches Probe into Binance Following Reports of Iran Sanctions Busting
A senior U.S. senator has opened an inquiry into Binance seeking records on alleged transactions that funneled nearly $2 billion to Iran-linked terrorist organizations and other entities and payments that helped circumvent sanctions on Russian oil, Bloomberg said.