Search Results for: Fraud
Tesco Bank fined £16.4m
October 3rd, 2018
The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care and diligence in protecting its ...
European Commission released VAT Gap Frequently asked questions
September 27th, 2018
The European Commission has published a Fact Sheet with Frequently asked questions about the VAT Gap, that refers to the overall difference between the expected VAT revenue and the amount actually collected. VAT Gap: Frequently asked questions What is VAT? ...
Is money-laundering scandal at Danske Bank the largest in history?
September 27th, 2018
The Russian-speaking caller refused to give a name but the threat was explicit: “Do you really feel you can walk home safely at night?” It was 2013 and officers at the Estonian branch of Danske Bank were beginning to ...
SEC shuts down a $345 million Ponzi-like scheme
September 24th, 2018
The Securities and Exchange Commission (SEC) announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and ...
CEO of Denmark bank quits amid an alleged $233 billion money-laundering investigation
September 20th, 2018
The chief executive of Danske, Denmark’s largest bank, resigned Wednesday after a year-long internal investigation into money laundering found $233 billion in suspicious transactions moving through the bank’s tiny branch in Estonia — nearly 10 times larger than that ...
EU to step up legal battle with Britain over import scam
September 20th, 2018
The European Commission is expected to step up a legal battle on Wednesday against Britain to recover 2.7 billion euros ($3.2 billion) in lost revenues due to an import scam, two European officials told Reuters on Tuesday. Commission officials ...
The world’s second-largest cryptocurrency Ether plunges more than bitcoin
September 7th, 2018
Ether was the star cryptocurrency last year, way outperforming its predecessor bitcoin. But 2018 has been a different story. The world’s second-largest digital asset is down 76 percent this year and can’t seem to catch a break. Investor patience ...
Property investment scam: Affected investors lost millions, feel “unprotected by the law”
September 5th, 2018
“The only thing that is left for us now is to file a complaint and pray that the money hasn’t been spent on casinos and luxury hotels.” Around 60 people who have been affected by an alleged scam in ...
Investors claim they lost €4.1m in Binary Options scam
September 3rd, 2018
A group of investors who claim they lost millions of euro in an electronic trading scam have brought a High Court damages action against an Irish-registered firm and Irish- and Israeli-based directors. They have sued Greymountain Management Ltd, which ...
Former FIFA official jailed in bribery scandal
August 30th, 2018
The Former FIFA official jailed for nine years after he was convicted last year of racketeering and other charges related to a corruption scandal. Juan Angel Napout, from Paraguay, the former head of South America’s footballing body, was sentenced ...
