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Barclays, RBS, HSBC, Credit Suisse, UBS fined for forex trading cartel

Photographed from Greenwich Park in London, January 17, 2017, are the banks’ financial offices in Canary Wharf. Ben Stansall | AFP | Getty Images Five banks were fined by the European Commission for their participation in illegal foreign currency trading cartels. The total fines for UBS, Barclays and RBS as well as HSBC, HSBC, HSBC, […]

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Criminals exploit buy now, pay later services like Klarna and Afterpay

Displayed on a smartphone screen is the Klarna logo Jakub Porzycki | NurPhoto | Getty Images LONDON — Buy now, pay later services aren’t just popular among consumers. The services have been a big hit among criminals. Fraudulent activity has been on the rise among some of the biggest buy now, and pay later (BNPL), […]

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U.S. selling seized cryptocurrency in BitConnect fraud case

The sign can be seen in Washington, D.C., at the United States Department of Justice Headquarters on August 29, 2020. Reuters| Reuters U.S. Justice Department is selling $56 million of cryptocurrency that it took as part of an extensive Ponzi scheme investigation against a man who promotedBitConnect is an offshore cryptocurrency lending program authorities said […]

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Bitcoin ATMs: Criminals target cryptocurrency transactions

According to law enforcement officials, criminals use bitcoin ATMs all over the country for money laundering and drug trafficking. These machines are usually located in convenience shops and private businesses. They allow customers to buy easily. bitcoinCash, and any other cryptocurrencies. These funds will then be sent to the customer’s cryptocurrency wallet. This convenience comes […]

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Third stimulus checks still available and scammers are on the prowl

Moment | Moment | Getty Images According to the Federal Trade Commission, criminals use the promise of third stimulus checks to steal money from victims who are not expecting it. In March President Joe Biden signed the American Rescue Plan. It authorized a third round pandemic-era payment of $1,400 per person. Through the end 2021, […]

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Stock hijacker Mark Miller pleads guilty in pump-and-dump scheme

On Monday, July 20, 2019, a pedestrian in a mask gazes at a phone while walking in front the New York Stock Exchange. Getty Images| Bloomberg | Getty Images Minnesota’s general contractor plead guilty on Thursday to the charges. scheme to hijack dormant shell companies and then pump-and-dump their stock shares on the over-the-counter market […]

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18 former NBA players charged in alleged $4 million health insurance fraud

Glen Davis, #0 from the Los Angeles Clippers will face the Houston Rockets at Game Two of Western Conference Semifinals during 2015 NBA Playoffs. It took place on May 6, 2015 at Houston’s Toyota Center. National Basketball Association | National Basketball Association | Getty Images Former NBA players (18 including Ronald Glen Davis of the […]

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Defendants in stock hijacking case set to plead guilty

Comstock | Stockbyte | Getty Images Two of the three men criminally charged with a brazen scheme to hijack dormant shell companies and fraudulently pump up their stock shares are now set to plead guilty in the case in October, court records reveal. Records show that Christopher James Rajkaran from Queens (New York) and Guyana […]

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Wells Fargo pays $37 million to resolve Justice Department claims it defrauded currency customers

Wells Fargo signage on May 5th, 2021 in New York City. Getty Images paid $37 million to settle a government lawsuit accusing the bank of defrauding hundreds of commercial customers.| Michael Ochs Archives | Getty Images Wells Fargo paid $37 million to settle a government lawsuit accusing the bank of defrauding hundreds of commercial customers. […]

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Huawei CFO Meng Wanzhou to be released after agreement with U.S. in fraud case

Huawei chief financial officer Meng Wanzhou arrives at British Columbia Supreme Court with her security detail for the afternoon session of her extradition hearing, August 4, 2021 in Vancouver, Canada. AFP | AFP | Getty Images The chief financial officer of Chinese tech firm Huawei will be released and allowed to return to China after […]