Search Results for: Fraud
SEC charges two men for running a Ponzi scheme with money raised from investors
January 30th, 2017
The Securities and Exchange Commission today announced fraud charges against two New York City men accused of running a Ponzi scheme with money raised from investors to fund businesses purportedly created to purchase and resell tickets to such high-demand ...
More than 25,000 people in UK join legal action against Volkswagen
January 30th, 2017
More than 25,000 British motorists have joined legal action against car giant Volkswagen over the ‘dieselgate’ emissions scandal. Motorists take their fight to the High Court today seeking a green light to proceed with the UK’s first ‘class action’. ...
Venezuelan authorities arrest 4 bitcoin miners
January 27th, 2017
Venezuelan authorities have arrested four people allegedly involved with a cryptocurrency-mining operation based in a small city about an hour and a half’s drive from Caracas, according to local media reports. Three men and one woman with ages ranging ...
BT facing criminal inquiry over Italy accounting scandal
January 26th, 2017
Prosecutors in Milan have confirmed an investigation into allegations of false accounting and embezzlement at BT’s Italian arm. It is being led by Fabio De Pasquale – a veteran of high-profile investigations, including a long-running inquiry into the former ...
Tesco faces fresh legal challenge over accounting scandal
January 25th, 2017
Supermarket chain Tesco is facing a fresh lawsuit for damages from investors over its 2014 accounting irregularities scandal. The legal action is being pursued by Manning & Napier, with the Financial Times newspaper reporting that the US investment house ...
FCA warns pension scheme operators are at risk from smarter scams
January 24th, 2017
The Financial Conduct authority (FCA), the financial regulator of UK, has issued a warning to alert authorised firms for the risks arising from failing to carry out appropriate due diligence on investment offerings. While aimed primarily at pension scheme ...
Shipping Conglomerate and Former CFO Charged With Failure to Recognize Hundreds of Millions in Tax Liabilities
January 24th, 2017
The Securities and Exchange Commission today charged shipping conglomerate Overseas Shipholding Group (OSG) and its former chief financial officer Myles R. Itkin with failing to recognize hundreds of millions in tax liabilities in its financial statements that had accumulated ...
Future of payments: 4 trends to know in payment processing
January 23rd, 2017
The payments industry has been evolving rapidly, especially in the last few years with the growing shift to digital. The global payments ecosystem is constantly changing as new startups try to change the way we move money around the ...
SEC Establishes Supervisory Cooperation Arrangement With Hong Kong SFC
January 20th, 2017
The Securities and Exchange Commission today announced that it has established a comprehensive arrangement with the Hong Kong Securities and Futures Commission (SFC) as part of the SEC’s long-term strategy to enhance the oversight of regulated entities that operate ...
Western Union agreed to pay $586m for Anti-Money Laundering Violations
January 20th, 2017
Western Union Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586 Million in Settlement with Justice Department and Federal Trade Commission Company also Agrees to Implement Anti-Fraud Program and Enhanced Compliance Obligations in Agreements with Federal Authorities The Western ...
