Financial Crime

Financial crime is defined as crime that is specifically committed against property. These crimes are almost always committed for the personal benefit of the criminal, and they involve an illegal conversion of ownership of the property that is involved.

Source: complyadvantage.com

Financial Crime Prevention Startup Silent Eight Raises $40M
Financial Crime Prevention Startup Silent Eight Raises $40M
March 10, 2022  |  Investments

Singapore-based financial crime prevention firm Silent Eight has closed a $40 million Series B funding round, the company said in a news release Wednesday (March...

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SEC Charges Siblings in $124M ‘Snake Oil’ Crypto Scam
SEC Charges Siblings in $124M ‘Snake Oil’ Crypto Scam
March 08, 2022  |  Cryptocurrency

The Securities and Exchange Commission said a brother-and-sister duo defrauded thousands of investors out of more than $124 million via two unregistered, fraudulent offerings of...

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BharatPe Founder Accused of ‘Extensive Misappropriation’
BharatPe Founder Accused of ‘Extensive Misappropriation’
March 02, 2022  |  Personnel

The co-founder of Indian FinTech BharatPe resigned from his post this week after his wife, Madhuri Jain Grover, head of controls at the company, was...

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BitConnect’s Kumbhani Goes Missing Following $2.4B Indictment
BitConnect’s Kumbhani Goes Missing Following $2.4B Indictment
March 01, 2022  |  Legal

Just days after a federal grand jury handed down a $2.4 billion indictment of operating a global Ponzi scheme, BitConnect founder Satish Kumbhani, 36, has...

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FDIC Bars Three From Banking as Part of January’s Enforcement Actions
FDIC Bars Three From Banking as Part of January’s Enforcement Actions
February 25, 2022  |  Regulation

Three people were ordered from further participation “in any manner” having to do with financial institutions following January enforcement actions by the Federal Deposit Insurance...

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Nigeria Seeks $1.7B From JP Morgan Over ‘Gross Negligence’
Nigeria Seeks $1.7B From JP Morgan Over ‘Gross Negligence’
February 23, 2022  |  Legal

Nigeria said JPMorgan was “grossly negligent” in transferring funds to the country’s disgraced former oil minister, and is suing the firm for $1.7 billion. The...

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DOJ Names First Director of Crypto Team To Step Up Enforcement 
DOJ Names First Director of Crypto Team To Step Up Enforcement 
February 18, 2022  |  Cryptocurrency

The Justice Department announced on Thursday the appointment of Eun Young Choi as first director of the National Cryptocurrency Enforcement Team (NCET) to step up...

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SEC Charges Infinity Q Capital Founder With Valuation Fraud
SEC Charges Infinity Q Capital Founder With Valuation Fraud
February 17, 2022  |  Security & Fraud

The U.S. Securities and Exchange Commission (SEC) has charged James Velissaris, former chief investment officer and founder of Infinity Q Capital Management, with overvaluing assets...

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Judge Orders Man Detained Until Trial in NY Crypto Laundering Case
Judge Orders Man Detained Until Trial in NY Crypto Laundering Case
February 14, 2022  |  Legal

A federal judge, Chief U.S. District Judge Beryl Howell, has ordered the pretrial detention for a defendant, Ilya Lichtenstein, arrested on conspiring to launder billions...

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