Banks (Finance)
The Enforcement Directorate (ED) has made a significant arrest in a money laundering case related to a fraud in the Andaman and Nicobar State Cooperative Bank. Former Andaman and Nicobar Islands MP and Congress leader, Kuldeep Rai Sharma, has been taken into custody under the Prevention of Money Laundering Act
Fraud
Three individuals have been arrested on allegations of fraud and money laundering involving US$34 500 intended for the Reserve Bank of Zimbabwe's exhibition stand at the Zimbabwe Agricultural Show. The trio, consisting of Rubbie Chinanai, Ashel Chinanai, and Tichawanda Kevin Chinyande, allegedly hacked into the contractor'
Fraud
A civil forfeiture complaint has been filed by the United States Attorney's Office against over $12 million in Tether cryptocurrency related to a cryptocurrency investment fraud scheme. The scheme targeted 10 female Mandarin-speaking victims, collectively losing more than $10.3 million. The perpetrators used unsolicited text messages to
Fraud
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has cautioned youths in the South-South region to steer clear of internet fraud and other financial crimes, which he described as a deadly trap that destroys lives and future. Speaking at an event organized by the Coalition of
Banks (Finance)
The Bank of Thailand (BOT) Governor, Dr. Sethaput Suthiwatnarueput, recently apologized for suspending mule accounts, citing concerns over Thailand's weakening fiscal stability and potential credit rating downgrade. He acknowledged discussions on taxing online gold trading to alleviate pressure on the baht, but no conclusions have been reached. The
Banks (Finance)
Philippine authorities have frozen 135 bank accounts and 27 insurance policies of 26 individuals involved in alleged anomalous government flood control projects in Bulacan. The move is part of a broader effort to combat corruption and money laundering in the country. According to the Anti-Money Laundering Council (AMLC), the assets
Fraud
Richard G. Frohling, Acting United States Attorney for the Eastern District of Wisconsin, announced that Precious Cruse, a former prenatal care coordinator, was convicted of 17 federal charges, including healthcare fraud, false statements, and money laundering. Cruse, who owned and operated a now-defunct prenatal care coordination company called Caring Through
Banks (Finance)
The Economic and Financial Crimes Commission (EFCC) has launched a probe into suspicious transactions at Providus Bank, following an alert from an internal whistleblower. The investigation revealed that $7 million was deposited into the bank's vaults in raw currency on March 26 and 27, 2025, sparking suspicion of
Banks (Finance)
A special trial court in India has rejected a discharge plea made by Satyan Tandon, an accused in the 2020 Yes Bank fraud case, citing complex issues and the need for a trial on merit. The court observed that Tandon's defense against allegations of his active role in
Fraud
Precious Cruse, owner and operator of a now-defunct prenatal care coordination company called Caring Through Love, has been convicted of 17 federal charges, including healthcare fraud, anti-kickback statute violations, and money laundering. The scheme involved luring vulnerable pregnant women and young mothers into the company's program with kickbacks
Fraud
The Economic and Financial Crimes Commission (EFCC) has obtained a court order to detain Sijibomi Ogundele, the CEO of Sujimoto Luxury Construction Limited, in connection with allegations that his company failed to deliver 22 Smart Green School projects in Enugu State. The company was paid over N5.7 billion by
Banks (Finance)
As of January 1, 2026, lawyers in Denmark will be required to make identification information available to their banks on clients who have funds in collective client bank accounts. This new provision is part of an amendment to the Money Laundering Act, which was adopted by the Danish Parliament in
