Fraud
The Malaysian Anti-Corruption Commission (MACC) has arrested two individuals, a former company owner and a former Chief Financial Officer, both in their 40s to 50s, on suspicion of submitting false particulars amounting to approximately RM8.1 million. The individuals were arrested on Tuesday evening when they arrived to give their
Banks (Finance)
Bank Negara Malaysia (BNM) has issued an administrative monetary penalty (AMP) of RM3,264,000 to HSBC Bank Malaysia Berhad (HBMY) for non-compliance with customer due diligence (CDD) and sanctions screening requirements. The penalty is in addition to a separate AMP of RM3,264,000 imposed on HSBC Amanah Malaysia
Fraud
The court has ruled that the State must provide former eThekwini mayor Zandile Gumede and her co-accused with a report on the investigation into the R320 million Durban Solid Waste tender irregularities. The report was allegedly prepared by Integrity Forensic Solutions (IFS) and concluded that the company was appointed unlawfully.
Fraud
Malaysian Anti-Corruption Commission (MACC) has made a significant breakthrough in its efforts to combat corruption in the country. Two individuals, a former company owner and a former Chief Financial Officer, both in their 40s to 50s, have been arrested on suspicion of submitting false particulars amounting to approximately RM8.1
Banks (Finance)
The Enforcement Directorate (ED) has made Kerala district units of the Communist Party of India (Marxist) (CPM) accused in a money laundering case arising from the embezzlement of Rs 150 crores from the Thrissur-based Karuvannur Cooperative Bank. This is the second instance of a political formation being named as an
Banks (Finance)
Bangladesh Bank Governor Dr Ahsan H Mansur has announced plans to merge several crisis-prone Islami banks into one under state ownership to safeguard depositors' interests. This move comes as part of the central bank's efforts to strengthen the financial sector and prevent further instability. The decision follows
Fraud
Multiple innocent Kenyans, including domestic workers, have fallen victim to a complex tax evasion scam in which their identities are used to open shell companies that facilitate money laundering and non-payment of taxes. The Kenya Revenue Authority (KRA) has launched an investigation into the scheme, dubbed the identity theft tax
Fraud
The Nigeria Police Force (NPF), through the INTERPOL NCB Abuja, has achieved a significant success in the fight against transnational financial crime by extraditing a Nigerian fugitive, Abubakar Aboki Muhammed, from the United Arab Emirates. Muhammed, a suspect in a case of obtaining money by false pretence, forgery, and money
Theft
A 48-year-old man from Michigan has been arrested and charged with money laundering and grand theft after Palm Beach Police investigated a theft of nearly $100,000 from a Palm Beach homeowners association over the course of several months. The investigation began in January 2024 after a property manager reported
Theft
The United States Attorney's Office has filed a civil forfeiture action to recover more than $6.7 million in funds alleged to be proceeds of a financial fraud scheme targeting the City of Portland. The scheme involved a business impersonation scam, where the perpetrator gained access to a
Fraud
Brandon Casutt, 52, of Henderson, Nevada, was sentenced to two years and four months in prison for fraudulently obtaining over $500,000 in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program loans, and then laundering the money through family, friends, and others. Casutt submitted multiple false and
Fraud
Two Arkansas men, Jody Douglas Davis and Phillip Vincent Ridings, were sentenced to federal prison for their roles in a scheme to defraud investors of over $1.1 million through the development of a nonexistent wind turbine and a proposed wind farm project in Elm Springs, Arkansas. The men were
