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

Stablecoin Issuer Tether Freezes $1M in USDT
Stablecoin Issuer Tether Freezes $1M in USDT
January 04, 2022  |  Cryptocurrency

Top stablecoin issuer Tether froze more than $1 million worth of USDT in a private digital wallet last week, effectively making it unusable.  Ethereum block...

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Swiss Bank UBS Takes Appeal of Money Laundering Verdict to French Supreme Court
Swiss Bank UBS Takes Appeal of Money Laundering Verdict to French Supreme Court
December 20, 2021  |  International

UBS has filed an appeal over a Paris court’s decision that upheld the company’s conviction for money laundering, Reuters reported Monday (Dec. 20). The decision...

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Four Executives Sentenced in SBA Fraud Case
Four Executives Sentenced in SBA Fraud Case
December 17, 2021  |  Security & Fraud

Four Indiana executives once associated with the now-defunct Banc-Serv Partners LLC were sentenced to prison in federal court this week. The government alleged that all...

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Ex-Olympian Allison Baver Accused of $10M in PPP Fraud
Ex-Olympian Allison Baver Accused of $10M in PPP Fraud
December 17, 2021  |  Security & Fraud

Federal prosecutors say that a former Olympic speed skater fraudulently obtained $10 million in COVID relief funds, using some of that money to finance a...

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‘Failings’ in HSBC Bank’s AML System Lead to $84M Fine
‘Failings’ in HSBC Bank’s AML System Lead to $84M Fine
December 17, 2021  |  Regulation

The U.K.’s Financial Conduct Authority (FCA) has fined HSBC Bank £63,946,800 ($84.7 million) for “failings” in its anti-money laundering (AML) system. The FCA reported the...

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Ex-McKinsey Partner Pleads Guilty to GreenSky Insider Trading Charges
Ex-McKinsey Partner Pleads Guilty to GreenSky Insider Trading Charges
December 15, 2021  |  Security & Fraud

Ex-McKinsey partner Puneet Dikshit, 40, has pled guilty to securities fraud, CNBC writes.  Dikshit reportedly made bets ahead of the Goldman Sachs acquisition of FinTech...

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IP-Stealing Artist Gets Burned by His Own Game as Cyber-Sleuths Pirate ‘MetaBirkin’ NFTs
IP-Stealing Artist Gets Burned by His Own Game as Cyber-Sleuths Pirate ‘MetaBirkin’ NFTs
December 13, 2021  |  NFTs

Two wrongs don’t make a right, as the old adage goes — but in some cases, the latter retaliatory act does provide a sense of...

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As ‘Smash and Grab’ Spate Continues, Retail CEOs Turn to Congress for Help
As ‘Smash and Grab’ Spate Continues, Retail CEOs Turn to Congress for Help
December 10, 2021  |  Retail

Aside from it being their busy season, what do the CEOs of AutoZone, Best Buy, Dick’s Sporting Goods, Target and over a dozen other mega-retail...

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US Retail Chains Push Congress to Address Resale of Stolen Items
US Retail Chains Push Congress to Address Resale of Stolen Items
December 09, 2021  |  Retail

Officials from major U.S. retailers, including Home Depot, Best Buy and Target, called on Congress to intervene to thwart the online resale of stolen, fake...

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