fraud

Quackers: viral tech and fake cures

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Annabelle Natalie "Belle" Gibson, an Australian, claimed that she was 20 years old when, in 1999, she was told she had cancer. But that was a lie: she was only 8 years old in 1999. That was just the first in this shameful tale of exploitation of those who suffer from the disease. She's been convicted and fined. Many people think this is not enough.

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Charges in one million USD credit card fraud.

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Adriana Pinnisi of California has been charged with theft from her employer by using her corporate credit card. The case raises a number of fascinating money laundering related issues.

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Australian charged with "stealing" bank's customers

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National Australia Bank was a victim of a scheme under which a former employer secretly transferred financial planning clients to a company he joined, according to charges filed against him.

BIScom Subsection:

Enforcement

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USA: Fraudulent tax claims used false identity, say prosecutors

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The US Department of Justice has charged four men from a district of California known as "the Inland Empire" with a range of tax offences that, it is alleged, generated substantial revenue by making false tax claims in the names of innocent individuals. It's time governments started doing effective KYC.

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Idiotic fraudster and the IMF

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We love, really love, the most ludicrous spam-scams we can find and this one is an absolute classic of its type.

BIScom Subsection:

Risk Management

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Bank account looted after company placed in liquidation

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There's a lot of talk about KYC when accounts are opened but a general lack of concern over accounts once they are established. The director of a company in liquidation has pleaded guilty to a fraud that could only have taken place because someone wasn't paying enough attention.

BIScom Subsection:

Risk Management

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UK's FCA confiscates more than GBP2m in land-banking scam.

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Long long ago, there was a phrase circulating among money laundering investigators that in every money laundering scheme, there is a lawyer. The Financial Conduct Authority, in an action in the Central Criminal Court, has proved that you can't run a property fraud unless someone is doing the paperwork and, in the UK, that's likely to be a solicitor.

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Alert: Dangerous spam-scam using Scotia Bank secure e-mail as cover

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A form of scam spam has come to our notice this morning. It is unusually convincing and clever.

It purports to come from Scotia Bank's secure e-mail service but, obviously, it does not.

Details below.

CoNet Section:

IT & Communications

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KYC: Official documents, unofficial person.

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The stories of people using genuine documents with false details are legion. But this one has a twist, as they say in TV land.

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California announces Western Union deal - several weeks after the DoJ told the world.

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It's bizarre. A press release received today headed "Attorney General Xavier Becerra Announces Settlement With Western Union For Wire Fraud Scams, Encourages Victims to Come Forward" refers to a case that the US Department of Justice announced settled on 19th January this year under the headline "Western Union Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits USD586 Million in Settlement with Justice Department and Federal Trade Commission." In the DoJ announcement it says that the California settlement is part of the overall deal. However, there is some interesting stuff...

BIScom Subsection:

Enforcement

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An oldie but a goodie: internet directory registration scam

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There's a whole industry, across the world, that charges fees for doing things you can easily do for free and which give you the impression, whilst not actually saying so, that you need their services to obtain your rights. One is the domain name registration scam, that appears in several variants.

Here's today's.

CoNet Section:

IT & Communications

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KYC / Due Diligence on Counterparties - Identity fraud - Part 2

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Part 1 of this article is here. In this part: the position of estate agents.

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KYC / Due Diligence on Counterparties - Identity fraud - Part 1

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The Law Society's Gazette is reporting that Mischon de Reya, a London law firm has been ordered to pay damages to its client which purchased a property from a fraudster. The case is going to appeal. Nigel Morris-Cotterill looks at the first instance judgment of a case that has enormous implications for KYC/Due Diligence for financial institutions. Part 1.

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USA's IRS explains outlines current internet crime schemes.

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The USA's Internal Revenue Service has issued a notice relating to a spam scam that is prevalent as companies prepare tax information for employees (see US tax authorities warn of increasingly effective phishing spam-scam. It has also issued an explanation of how some fraudsters operate.

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Joining the dots: how an immigration fraud case relates to multiple murders

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Mariyah Chernykh, 26, gives her address as in Ontario, Canada but she is a Russian citizen. She and several others have pleaded guilty to a fraud that ties her and several others to a murderous attack on an in-house seminar being conducted in San Bernardino, California. The case demonstrates that assessment of suspicion should not be based on obvious, close, circumstances and the relevance of Know Your Customer rather than the narrow aspects of so-called Customer Due Diligence.

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