money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Fraudsters Accused In $364M Ponzi Debt Scheme
Fraudsters Accused In $364M Ponzi Debt Scheme
September 20, 2018  |  Legal

Federal prosecutors have charged three men who allegedly ran a $364 million Ponzi scheme. According to Reuters, the men — Kevin Merrill of Maryland, 53,...

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Danske Bank CEO Thomas Borgen Stepping Down
Danske Bank CEO Thomas Borgen Stepping Down
September 19, 2018  |  Security & Fraud

Danske Bank’s chief executive Thomas Borgen is stepping down from Denmark’s largest bank amid a money laundering scandal with its small but profitable Estonian branch....

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Danske Officials Knew About Estonian Branch Woes Earlier Than Indicated
Danske Officials Knew About Estonian Branch Woes Earlier Than Indicated
September 18, 2018  |  Security & Fraud

Danske Bank officials were aware of problems at its Estonian branch earlier than they indicated, reported The Wall Street Journal. According to the report, citing...

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North Korean Hackers Paid Using A Bitcoin Wallet
North Korean Hackers Paid Using A Bitcoin Wallet
September 17, 2018  |  Fraud Attack

The alleged North Korean hacking of Sony, Bangladesh Banks and other targets stand as some of the most infamous cyberattacks yet experienced. And the recently...

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Credit Suisse Censured By FINMA For Lax Anti-Money Laundering Processes
Credit Suisse Censured By FINMA For Lax Anti-Money Laundering Processes
September 17, 2018  |  Regulation

Credit Suisse has been censured by FINMA, the Swiss financial supervisor, for weak anti-money laundering processes, reported Financial Times. According to the report, the government...

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Anatomy Of A Bank Heist, SWIFT-ly Done By Phishers
Anatomy Of A Bank Heist, SWIFT-ly Done By Phishers
September 17, 2018  |  Security & Fraud

In 2016, $81 million disappeared from Bangladesh’s central bank. It could have been a lot worse — hackers tried to get away with $1 billion....

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US Examines Alleged Danske Bank Money Laundering
US Examines Alleged Danske Bank Money Laundering
September 14, 2018  |  Banking

In the latest salvo of cross-border probes over money laundering, The Wall Street Journal reported Friday (Sept. 14) that U.S. law enforcement agencies are examining...

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Today In Data: The Challenge Of Speeding Up Payments While Slowing Down Fraud
Today In Data: The Challenge Of Speeding Up Payments While Slowing Down Fraud
September 11, 2018  |  Today In Data

An awful lot of dark money moves round the world each year – between 2 and 5 percent of global GDP by UN estimates. And that figure...

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Denmark Wants To Toughen Up Money Laundering Fines
Denmark Wants To Toughen Up Money Laundering Fines
September 11, 2018  |  International

Denmark is working on new legislation that will increase money laundering fines by about eightfold. According to Bloomberg, the new bill by the Danish Financial Supervisory...

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