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Fraud, Scams & Cybercrime
Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.
Anti-Money Laundering
US DOJ Charges Founders of Crypto Mixer “Samourai Wallet”
By Editors | 27/04/2024
Over around ten years, Samourai Wallet was used to launder over $100mn in crime proceeds, earning the founders at least $4mn in fees.
PEPs & Sanctions
France Proposes New Sanctions to Target Russian Disinformation
By Editors | 27/04/2024
The sanctions would target the disinformation on social media, the use of AI-generated deep fakes, the creation of fake websites, and election interference.
Fraud, Scams & Cybercrime
US Citizen Jailed in Singapore for Running Ponzi Scheme
By Nithya Subramanian | 26/04/2024
Michael Philip Atkins cheated more than 1,000 investors in a forex trading scheme involving more than S$18mn.
Anti-Money Laundering
FSA Launches AML Probe into Tokyo’s Kiraboshi Bank
By Mark Johnston | 25/04/2024
The bank did not perform checks on around 80 large remittances made by a customer over less than two months, despite the suspicious circumstances.
Fraud, Scams & Cybercrime
Thai Police to Return $3.4m in Seized Assets to Crypto Fraud Victims
By Mark Johnston | 25/04/2024
The assets were confiscated from two gambling websites that were linked to a cryptocurrency fraud scheme; 23 suspects were arrested.
Fraud, Scams & Cybercrime
US SEC Asks Court to Force Terraform Labs and Founder to Pay $5.3b
By Mark Johnston | 25/04/2024
The SEC argues that Terraform Labs and Do Kwon have not shown remorse for their conduct and are likely to commit additional violations.
Fraud, Scams & Cybercrime
Singapore Court Sentences Money Mule to 10 Years Jail
By Nithya Subramanian | 25/04/2024
Muhammad Zahir Johana allowed his Singpass credentials to be used to open bank accounts that were used to receive scam proceeds.
Fraud, Scams & Cybercrime
Global Operation Takes Down ‘LabHost’ Cybercrime Service
By Mark Johnston | 25/04/2024
LabHost offered a service since 2021 that enabled over 10,000 cybercriminals to create fake websites and conduct phishing campaigns.
Fraud, Scams & Cybercrime
US Hedge Fund Sues Over Credit Suisse AT1 Bond Losses
By Mark Johnston | 25/04/2024
The lawsuit accuses Credit Suisse’s CEO and former Chairman of misrepresenting the bank’s liquidity position while it was facing a deposit run.
Fraud, Scams & Cybercrime
Indian NBFC Detects Vehicle Loan Fraud Worth $18m
By Ajoy K Das | 25/04/2024
The fraud involved forgery of KYC documents related to retail vehicle loans, resulting in company funds being embezzled.
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