U.K. financial services firms still have potentially serious gaps in their financial crime controls, despite their assurances that they have beefed up …
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Fraud Tracker
- Fraud Tracker
Florida health group pays $541M to settle false claims allegations
by AiNewsBlogby AiNewsBlogA large health provider group in Florida has agreed to pay $541 million to resolve allegations it inflated patient diagnosis codes in …
- Fraud Tracker
SEC accuses former Wall St. bankers, including BOA employee, of insider trading scheme
by AiNewsBlogby AiNewsBlogThe U.S. Securities and Exchange Commission (SEC) has charged two former investment bankers with insider trading tied to the 2022 acquisition of …
- Fraud Tracker
From mainframes to Agentic AI, what legacy system discipline can teach us about building trustworthy customer data platforms
by AiNewsBlogby AiNewsBlogFor the past decade, I’ve led customer data and regulatory platforms at one of the world’s largest card issuers, following years modernizing …
- Fraud Tracker
How ordinary Russian investors got caught in the sanctions net
by AiNewsBlogby AiNewsBlogWhen sanctions against Russia began multiplying in 2022, the public images were hard to miss: Yachts seized in European ports, villas frozen, …
- Fraud Tracker
Record-setting AML penalty against UBS was years in the making
by AiNewsBlogby AiNewsBlogFinCEN and several other regulators levied a combined $125 million penalty against UBS Financial Services (UBSFS), a broker-dealer and futures commission merchant, …
- Fraud Tracker
Ex-Bridgestone Americas employee to forfeit $21M earned from stolen funds
by AiNewsBlogby AiNewsBlogA former employee of Bridgestone Americas has pleaded guilty to two counts of wire fraud for carrying out a scheme that resulted …
- Fraud Tracker
OSF Healthcare pays $552,250 for HIPAA violations from ransomware breach
by AiNewsBlogby AiNewsBlogIllinois-based OSF Healthcare System and its affiliated covered entities have agreed to pay $552,250 as part of an agreement with the U.S. …
- Fraud Tracker
Singapore’s AML framework has a gap against financial crime, FATF finds
by AiNewsBlogby AiNewsBlogThe Financial Action Task Force (FATF) and Asia/Pacific Group on Money Laundering (APG) have released their report for Singapore, assessing how well …
- Fraud Tracker
SFO and U.S. authorities investigate collapsed telecoms firm IMC
by AiNewsBlogby AiNewsBlogThe U.K.’s Serious Fraud Office (SFO) has announced that it has launched an investigation into suspected fraud, false accounting and money laundering at …
- Fraud Tracker
Malta AML expert discusses how country is staying ahead of EU AML rules
by AiNewsBlogby AiNewsBlogElena Tabone joined Malta’s Financial Intelligence Analysis Unit (FIAU) in 2015 as a compliance officer with a background in insurance. Since joining …
- Fraud Tracker
Canadian Man Pleads Guilty in Snowflake Extortions – Krebs on Security
by AiNewsBlogby AiNewsBlogA 26-year-old Canadian man once described as one of the most consequential cybercrime threat actors of 2024 has pleaded guilty to computer …
- Fraud Tracker
UBS hit with record $125M civil penalty for ‘willful’ BSA violations
by AiNewsBlogby AiNewsBlogUBS Financial Services was slapped with a record $125 million joint civil penalty by four regulatory agencies for willful violations of the …
- Fraud Tracker
DOJ declines to prosecute health entity per Corporate Enforcement Policy, but indicts former CEO
by AiNewsBlogby AiNewsBlogThe Department of Justice (DOJ) has declined to prosecute a New Jersey health business for fraud, kickbacks and bribery, while indicting the …
- Fraud Tracker
Read This Before You Buy That TV Streaming Stick – Krebs on Security
by AiNewsBlogby AiNewsBlogSecurity experts have been sounding the alarm for years about the risks of using generic TV boxes that promise unlimited content streaming …
- Fraud Tracker
Brazil’s National Data Protection Authority: How regulators investigate and enforce its data protection law
by AiNewsBlogby AiNewsBlogIn June of this year, Brazil’s National Data Protection Authority (ANPD) opened an administrative enforcement proceeding against Claro, one of the country’s …
- Fraud Tracker
DOJ launches new trade fraud unit as task force tops $1 billion in recoveries
by AiNewsBlogby AiNewsBlogThe U.S. Department of Justice (DOJ) announced on July 14 the creation of a new unit dedicated to investigating and prosecuting criminal …
- Fraud Tracker
Practitioner lessons from Prudential Life of Japan’s scandal
by AiNewsBlogby AiNewsBlogPrudential Life Insurance’s scandal in Japan attracted limited attention in the West when it broke in January, but six months on, it …
- Fraud Tracker
The Reverse Information Paradox: The role of compliance in AI governance
by AiNewsBlogby AiNewsBlogMicrosoft’s CEO Satya Nadella recently posted an article titled The Reverse Information Paradox. In his piece, he referenced Kenneth Arrow’s famous “Information …
- Fraud Tracker
Chris Clarke, CCO at Bloomsbury Money, explains why asset tokenization and risk-based compliance are key FS trends
by AiNewsBlogby AiNewsBlogAn early role in anti-money laundering (AML) and due diligence in a client-facing role gave Chris Clarke his first taste of compliance. …
- Fraud Tracker
Regulators are likely to pass laws on AI use in healthcare. Here’s how to prepare
by AiNewsBlogby AiNewsBlogArtificial intelligence tools hold breathtaking potential in the healthcare ecosystem. In just a few short years, AI has already greatly expedited functions …
- Fraud Tracker
Former AstraZeneca due diligence member settles insider trading allegations
by AiNewsBlogby AiNewsBlogA former AstraZeneca employee and member of a company due diligence team has agreed to settle insider trading charges brought by the …
- Fraud Tracker
The hidden compliance cost of building AI-based AML tools in-house
by AiNewsBlogby AiNewsBlogThere is a dangerous phrase that too many compliance officers have heard from the business or technology function: “We can build that …
- Fraud Tracker
Felons, Fraudsters Flog Offensive Cybersecurity Startup – Krebs on Security
by AiNewsBlogby AiNewsBlogA cybersecurity startup dangling millions of dollars to acquire zero-day security vulnerabilities in popular software is run by a pair of far-right …
- Fraud Tracker
Amazon fined $2.25M for failing to respond to identity theft victim requests
by AiNewsBlogby AiNewsBlogAmazon has agreed to pay $2.25 million for failing to provide records to customers who were victims of identity theft, as required …
- Fraud Tracker
CFTC proposes to amend Whistleblower Rule, signals more enforcement activity
by AiNewsBlogby AiNewsBlogThe Commodity Futures Trading Commission (CFTC) is seeking comment on a proposed amendment to its whistleblower rules that would enhance incentives for …
- Fraud Tracker
AI in compliance: Are we still driving, or just riding shotgun?
by AiNewsBlogby AiNewsBlogAI may be able to detect risk faster than any compliance team—but it still cannot own accountability. I used to say that …
- Fraud Tracker
FBI Seizes NetNut Proxy Platform, Popa Botnet – Krebs on Security
by AiNewsBlogby AiNewsBlogThe Federal Bureau of Investigation (FBI) said today it worked with industry partners to seize hundreds of domains associated with NetNut, a …
- Fraud Tracker
U.K. regulator forces third FS firm to pay $42M for financial crime failures related to wealth management company collapse
by AiNewsBlogby AiNewsBlogThe U.K. banking regulator has censured asset servicing bank CACEIS UK for failing to operate adequate financial crime controls. The bank agreed to …
- Fraud Tracker
The SEC’s crypto taxonomy changes everything. Pending enforcement targets should act now
by AiNewsBlogby AiNewsBlogOn March 17, the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance published a 68-page interpretive release that, for the …
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