Featured Fraud

EU agrees on directive for combating cryptocurrency and credit card fraud

European Parliament and Council of the EU negotiators have reached an agreement on new measures aimed at boosting the fight against fraud involving non-cash means of payment, including credit cards, online shopping and virtual currencies such as bitcoin. The agreed text of the directive on combating fraud and counterfeiting of… Read More

Money laundering: Fraudsters laundered millions in UK visa scam for Bangladeshis

A criminal gang, lead by a 42-year old law student, falsely claimed £13 million in tax repayments over a scam in which they facilitated 900 bogus visas and laundered millions. The group set up 79 bogus companies and created fake documentation which was used by Bangladeshi nationals in fraudulent… Read More

EU group approves new-look ID cards to combat €2 billion identity theft

European lawmakers on the Civil Liberties (LIBE) Committee have approved plans for a new single identity card to be adopted by member states in an effort to improve ID card security and curb document fraud, which is estimated to cost the bloc €2 billion annually. There are currently at… Read More
13th December 2018
European Parliament and Council of the EU negotiators have reached an agreement on new measures aimed at boosting the fight against fraud involving non-cash means of payment, including credit cards, online shopping and virtual currencies such as bitcoin. The agreed text of the directive on combating fraud and counterfeiting of… Read More
12th December 2018
A criminal gang, lead by a 42-year old law student, falsely claimed £13 million in tax repayments over a scam in which they facilitated 900 bogus visas and laundered millions. The group set up 79 bogus companies and created fake documentation which was used by Bangladeshi nationals in fraudulent… Read More
7th December 2018
The UK Serious Fraud Office (SFO) defended itself on Thursday against criticisms of “serious failings” after the collapse of a high-profile re-trial of former Tesco (TSCO.L) executives, insisting the prosecution had been in the public interest. New SFO director Lisa Osofsky has pledged to take on the “big guys” since… Read More
6th December 2018
European lawmakers on the Civil Liberties (LIBE) Committee have approved plans for a new single identity card to be adopted by member states in an effort to improve ID card security and curb document fraud, which is estimated to cost the bloc €2 billion annually. There are currently at… Read More
3rd December 2018
Billionaire Czech Prime Minister Andrej Babis faced renewed pressure over his business dealings on Saturday after an EU legal document said he has a conflict of interest due to links to agribusiness companies that received European funds. The document, which was seen by Reuters, could stir up political turmoil in… Read More
30th November 2018
A self-styled British trader, who conned financial experts and some of his closest friends out of millions of pounds in a nine-year investment scam, was sentenced by a London court to five years in jail on Thursday. Mark Starling, 57, pleaded guilty to fraud and operating a collective investment scheme… Read More
29th November 2018
AP — An eastern Iowa man has been sentenced to more than two years in federal prison for bilking a bank out of more than $850,000. Federal prosecutors for Iowa say 63-year-old David Giannetto, of Marion, was sentenced Wednesday in Cedar Rapids’ federal courthouse to 27… Read More
21st November 2018
AP — Israeli police on Tuesday recommended charges be brought against the interior minister in a major corruption case. Police spokesman Micky Rosenfeld said there is an “evidentiary basis” that Aryeh Deri committed fraud and breach of trust, as well as millions of shekels in tax offenses and money… Read More
16th November 2018
Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More
15th November 2018
Criminals shifted over $100 million through cash transfer giant MoneyGram, causing it to violate a government deal aimed at beefing up its security. According to the US Department of Justice, MoneyGram has now agreed to forfeit $125 million, the amount of consumer fraud transactions it processed just over a couple… Read More
Must Read

EU agency: Cocaine dealers’ technology use complicates busts

AP — The European Union agency that monitors drug abuse says cocaine dealers are increasingly using social media and encrypted communications to do business, making it harder for authorities to crack down on the trade. The European Monitoring Center for Drugs and Drug Addiction agency… Read More

Senate rebukes Saudi Arabia over Khashoggi, Yemen war

AP — Senators voted Thursday to recommend that the U.S. end its assistance to Saudi Arabia for the war in Yemen and put the blame for the death of journalist Jamal Khashoggi squarely on Saudi Crown Prince Mohammed bin Salman, in a direct challenge to both… Read More