Fraud
- Finance
FCA urges new rules to compel Google, Facebook to urgently tackle online fraud
The Financial Conduct Authority has called on the government to force digital platforms like Google and Facebook to prioritise investment…
Read More » - News
New rules for claiming Universal Credit under DWP fraud prevention shake-up
Thousands of Universal Credit claims were under investigation earlier this year, after the Department for Work and Pensions announced a…
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Credit Suisse admits it defrauded investors to settle Mozambique charges
Credit Suisse Group AG agreed to pay $475m and forgive $200m Mozambique owes to investors in coordinated settlements with US and European…
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Contactless limit rises to £100 today in second increase since pandemic began
The contactless limit was increased to £45 in April 2020, early on in the coronavirus pandemic and is now rising…
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Banks on Wall Street under scrutiny over staff communications
The US Securities and Exchange Commission is reportedly probing Wall Street banks to check whether they are complying with rules on tracking their…
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Ex-OppenheimerFunds analyst charged with wire fraud
A former quantitative analyst for a global asset manager was charged with securities and wire fraud for allegedly using nonpublic…
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Lawmakers push Google, Facebook, eBay and Amazon to disclose fees they get to host investment scams
Lawmakers are asking tech giants including Google and Facebook to come clean on how much they are being paid to…
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Nearly 140 countries agree on deal to curb tax avoidance
Nearly 140 countries agreed Friday to the most sweeping overhaul of global tax rules in a century, a move that…
Read More » - Market
DOJ charges 18 ex-NBA players in $4 million healthcare scam
Eighteen former NBA players have been charged with defrauding the league’s health and welfare benefit plan out of about $4…
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FCA ‘keen’ for info on Google’s scam crackdown as criticism mounts
The Financial Conduct Authority is still awaiting information on whether Google’s plans to crack down on online investment fraud are…
Read More » - Uk-news
The fraud refund lottery – how one victim got back £250k and another got nothing
Fraud is now so rampant that it should be dealt with as a national security threat, says the banking industry…
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Five things in crypto this week: Binance, NFTs and the Walmart hoax
In another busy week for cryptocurrencies, Binance, dogecoin and non-fungible tokens took the spotlight. As regulators continue to clamp down…
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Ex-crypto hedge fund manager gets prison sentence for securities fraud
A cryptocurrency hedge-fund manager who lied about returns on his $90m fund and siphoned money from its accounts to cover…
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Convicted Libor rigger Tom Hayes battles SFO for return of his passport
Tom Hayes’ legal team are locked in a spat with the Serious Fraud Office over the return of the convicted Libor rigger’s passport, as the UK…
Read More » - Banking
Company director jailed for £2.5m money laundering fraud
Richard Faithfull was handed down the five year and 10-month sentence by Judge Tomlinson following a four-day hearing. He has…
Read More » - Entrepreneurs
Profeco proceeds legally against VivaAerobus, Vips, Sony and BP for misleading advertising
September 6, 2021 5 min read This article was translated from our Spanish edition using AI technologies. Errors may exist…
Read More » - Finance
Oppenheimer investment bank faces lawsuit over Ponzi scheme allegations
A class-action lawsuit claims investment bank Oppenheimer & Co. was at fault for an alleged Ponzi scheme run by a…
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BitConnect and founder Satish Kumbhani under regulatory fire over alleged crypto scam
The Securities and Exchange Commission accused BitConnect and its founder, Satish Kumbhani, of a $2bn fraud that misused bitcoin raised…
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Citigroup must face lawsuit over Bernie Madoff’s Ponzi scheme, court rules
A US appeals court said that Citigroup must face a lawsuit over Bernie Madoff’s Ponzi scheme that seeks to recover…
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How Theranos founder Elizabeth Holmes got to trial as jury selection starts
Theranos founder Elizabeth Holmes headed to court Tuesday, as her legal team sought to help assemble a group of impartial jurors…
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NFT art the latest target for online fraudsters
Serbian artist Milos Rajkovic was floored last month when his social-media fans started touting an online sale of his animated,…
Read More » - Banking
Aviva calls for government intervention to stop search engines promoting financial scams
The scale of fraud has accelerated through the coronavirus pandemic, which has resulted in a deluge of opportunities for fraudsters…
Read More » - Finance
Meet cardano, the cryptocurrency coming for bitcoin’s crown
As the long-fought battle between bitcoin and ether rages on, newcomers are climbing up the ranks with underlying technology upgrades…
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Legality of Spacs called into question in a spate of class actions
Two law professors are aiming at high-profile targets, filing suits that question the legality of a specific type of special-purpose…
Read More » - News
Fresh scam warning over answering phonecalls with similar number to your own
The National Fraud Intelligence Bureau has issued a new warning over a new scam which sees calls coming into people…
Read More » - Politics
Don’t Be Fooled By The ‘Covid Pass’ Text Scam Doing The Rounds
A new text message scam is posing as the NHS and asking for payment in order to create a Covid…
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Fines for money laundering breaches total around $930m globally, drop 40% in second pandemic year
Penalties imposed on global finance companies for breaching anti-money laundering rules almost halved in the first six months of 2021…
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Why regulators are watching executive stock sales
Securities regulators are rethinking rules on popular plans that let corporate executives sell stock without violating insider-trading provisions. The plans…
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Former Bank of America traders convicted over spoofing
Two former Bank of America traders were convicted on 4 August of rigging precious metals prices by using an aggressive tactic…
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Monzo faces FCA scrutiny over financial crime controls
Monzo has warned for the second consecutive year that there is “material uncertainty” over whether it can turn a profit…
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SFO’s boss in spotlight as fraud hunters ask: ‘When are they going to do something?’
Some in the City are wondering how sharp the SFO’s teeth are anymore as the UK agency tasked with investigating…
Read More » - Market
Spanish court approves John McAfee’s extradition to the U.S.
MADRID (AP) — Spain’s National Court has approved the extradition of detained antivirus software entrepreneur John McAfee to the United…
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Biden administration cancels $500 million of student debt of scammed students
Roughly 18,000 borrowers who were scammed by their college will have their federal student loans discharged, amounting to approximately $500…
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