Financial Crime - Long Reads, News, Articles & Research: Finextra

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Tech and Crime Series: Cryptoassets and financial crime

News broke on 6 March 2021 that John McAfee (“McAfee”) has been charged in the US with conspiracy to commit fraud and money-laundering. This is in relation to his alleged involvement in a cryptocurrency scheme. The indictment states that “McAfee’s so called-cryptocurrency team (the “McAfee Team”), perpetrated two fraudulent schemes relating to th...

07 April 2021 /crime

Capital One: What its 390 million USD fine tells us about AML regulation

Paige McNamee Senior Reporter at Finextra

Capital One: What its 390 million USD fine tells us about AML regulation

The Financial Crimes Enforcement Network, or FinCEN, announced in January 2021 that Capital One would be required to pay a hefty $390 million penalty for AML violations under the Bank Secrecy Act (BSA). The bank admitted to wilfully failing to implement and maintain effective AML procedures to guard against money laundering, also failing to file t...

23 February 2021 /crime

Are search engines the 'shop window' for online investment fraud?

Paige McNamee Senior Reporter at Finextra

Are search engines the 'shop window' for online investment fraud?

Online investment fraud has seen a rapid acceleration since the onset of the coronavirus pandemic, and much of society’s most vulnerable people are bearing the brunt. Despite industry players campaigning for the UK government to include online fraud within the scope of its response to the Online Harms White Paper, in December 2020 the government r...

19 January 2021 /crime

Long reads

Tech and Crime Series: Cryptoassets and financial crime

Capital One: What its 390 million USD fine tells us about AML regulation

Are search engines the 'shop window' for online investment fraud?