Deputy U.S. marshal accused in romance scams that bilked $2M from seniors
Someone who claimed to be a major general in the U.S. Army said they were in need of money to transition out of the military. Another person who claimed to be a lieutenant commander in the U.S. military abroad asked for help to...
Scam Alert: Romance scam tricks victims into laundering money
The Wisconsin Better Business Bureau is warning people that if you use a dating app this Valentine’s Day, be careful to watch for scammers who only love your money.
Scammers are using people to funnel stolen money out of the country. Victims of...
U.S. Study Finds Further Regulation of the Art Market Not Needed Now
Addressing concerns that the art market has become a ripe setting for illicit financial transactions, the Treasury Department released a study on Friday that said that, while it had identified some vulnerabilities, it does not recommend immediate government intervention...
As NFTs flourish, U.S. Treasury raises alarm over money laundering in art
The U.S. Treasury Department on Friday issued a set of recommendations to combat illicit finance in the high-value art market and warned that the emerging digital art market, such as non-fungible tokens (NFTs), may present new risks.
In a study...
EXPLAINER: Behind the Vatican’s London real estate scandal
The Vatican has set a July 27 trial date for 10 people, including a once-powerful cardinal and papal contender, on charges related to the Holy See’s 350 million-euro investment in a luxury London real estate venture.
The 487-page indictment request...
Techy fraudsters used online investment platforms to launder covid relief funds
Tech-savvy fraudsters stealing from the government’s Covid pandemic relief programs to help businesses have found a convenient way to launder the money: they’re opening accounts with at least four online investment platforms, law enforcement officials said.
The digital platforms, investigators said, are...
Richest Americans hide more than 20% of their wealth from IRS
The richest Americans are hiding more than 20 percent of their earnings from the Internal Revenue Service, according to a comprehensive new estimate of tax evasion, with the top 1 percent of earners accounting for more than a third of...
Timeline: Nigeria’s OPL 245 oilfield licence bribery cases
An Italian court acquitted Royal Dutch Shell and Italy’s Eni on Wednesday of corruption in one of the oil industry’s biggest court cases centred around the acquisition of a Nigerian oilfield in 2011.
Italian prosecutors alleged that most of the...
Rise in bitcoin ATM create opportunities for money launderers
Cryptocurrency ATMs have seen a surge in interest amid this year's Bitcoin frenzy, fuelling concerns the machines could be exploited by "money mules" looking to wash criminal cash.
Installed in shops, petrol stations and even strip clubs, the machines swap...
OpenLux: How tiny European country ‘Duchy’ attracted billionaires
Luxembourg is inconsequential to many, but an investigation dubbed "OpenLux" shows how this small and secretive European country has attracted more wealth than the GDP of Japan.
Through favorable tax structures and opaque ownership registers, Luxembourg has attracted €4.5 trillion...