Europe has come up with a nifty plan to help Iran buy and sell stuff outside the reach of U.S. sanctions. The problem is that the plan is a fraud magnet. How do we know? The plan is known as the “Instrument in Support of Trade Exchanges,” or “INSTEX.” Lots of smart people have been […]

The Jersey courts consider legitimate tax avoidance and illegitimate tax evasion when seizing assets Introduction 1.The Jersey Court to confiscate drug offender’s money after-tax evasion confession [08 August 2019]. A 57year-old convicted drug offender could see up of £33,804 of savings seized by Jersey authorities, despite successfully arguing that the money was not the proceeds […]

The Financial Conduct Authority (FCA) has today fined Bank of Scotland (BOS) £45,500,000 for failures to disclose information about its suspicions that fraud may have occurred at the Reading-based Impaired Assets (IAR) team of Halifax Bank of Scotland. The FCA found that BOS failed to be open and cooperative and failed to disclose information appropriately […]

STOCKHOLM (Reuters) – Sweden’s Economic Crime Authority (EBM) widened its Swedbank investigation to include suspected fraud following a raid on Wednesday on the Swedish bank’s headquarters in an inquiry into its handling of money laundering allegations. “The information paints a picture of Swedbank appearing to have spread misleading information to the public and the market […]

Mozambique’s Former Finance Minister Indicted Alongside Other Former Mozambican Officials, Business Executives, and Investment Bankers in Alleged $2 Billion Fraud and Money Laundering Scheme that Victimized U.S. Investors A four-count indictment was returned on Dec. 19, 2018, by a grand jury in the Eastern District of New York, charging two executives of a shipbuilding company, […]

BROOKLYN, NY – An indictment was unsealed on March 4, 2019, charging Najib Allam, an executive of the Privinvest family of maritime services companies, and Teofilo Nhangumele and Antonio do Rosario, former Mozambican government officials, for their roles in a $2 billion fraud and money laundering scheme that victimized investors in the United States and […]

Richard David Arthur pleaded guilty to obtaining and using for his benefit the total sum of £2,637,401.  His three victims, Mr Humberstone, the French resident and the Jersey resident, were all elderly.  They had all reposed trust in Arthur, and he abused that trust for his benefit and personal gain. On 25 April 2018, Richard […]

The panel   Robert Beixiao Liu, Founder and chief executive officer, Nanling Global Lester Joseph, Manager, Global Financial Crimes Intelligence Group, Wells Fargo Christopher Ruzich, Senior manager, Major Cases and Sanctions Group, Investigations Unit, Financial Crime Compliance, Americas, Standard Chartered Bank Moderator: Joel Clark, Contributing editor, Risk.net The world of financial crime is evolving at a rapid pace. The tools […]