Financial Crime Online

Pirates made som $170 million in 2011, against $110 mio in 2010. The source of this information obviously is not their combined tax filings. It is an estimate by UNODC, similar to the estimates of money launderd globally. You can choose to think it is either actually a lot more or, a lot less. Ransom money is increasingly [...]

Think of Iran and financial crime; you were thinking about sanctions and OFAC right? Did we forget that Iran has its fair share of fraudsters as well?  Asides from election fraud and what not, ‘from for the money’ has been around in Persia for a while. Following arrests that took place around September last year, [...]

Rajina Rita Subramaniam gets 15 years for defrauding ING in Australia. The accountant at ING led a ‘normal’ life in the suburbs of Sydney, Australia, in the eyes of many. But she defrauded ING of around $45 over the course of years. According to the SMHreport, Subramaniam made 200 illegal transfers in the course of [...]

The FATF updated its recommendations. According to a press release, the main changes are: The main changes are: Combating the financing of the proliferation of weapons of mass destruction through the consistent implementation of targeted financial sanctions when these are called for by the UN Security Council. Improved transparency to make it harder for criminals [...]