Financial Crime

Financial crime is defined as crime that is specifically committed against property. These crimes are almost always committed for the personal benefit of the criminal, and they involve an illegal conversion of ownership of the property that is involved.

Source: complyadvantage.com

BharatPe Founder Accused of ‘Extensive Misappropriation’
BharatPe Founder Accused of ‘Extensive Misappropriation’
March 02, 2022  |  Personnel

The co-founder of Indian FinTech BharatPe resigned from his post this week after his wife, Madhuri Jain Grover, head of controls at the company, was...

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BitConnect’s Kumbhani Goes Missing Following $2.4B Indictment
BitConnect’s Kumbhani Goes Missing Following $2.4B Indictment
March 01, 2022  |  Legal

Just days after a federal grand jury handed down a $2.4 billion indictment of operating a global Ponzi scheme, BitConnect founder Satish Kumbhani, 36, has...

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FDIC Bars Three From Banking as Part of January’s Enforcement Actions
FDIC Bars Three From Banking as Part of January’s Enforcement Actions
February 25, 2022  |  Regulation

Three people were ordered from further participation “in any manner” having to do with financial institutions following January enforcement actions by the Federal Deposit Insurance...

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Nigeria Seeks $1.7B From JP Morgan Over ‘Gross Negligence’
Nigeria Seeks $1.7B From JP Morgan Over ‘Gross Negligence’
February 23, 2022  |  Legal

Nigeria said JPMorgan was “grossly negligent” in transferring funds to the country’s disgraced former oil minister, and is suing the firm for $1.7 billion. Get...

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DOJ Names First Director of Crypto Team To Step Up Enforcement 
DOJ Names First Director of Crypto Team To Step Up Enforcement 
February 18, 2022  |  Cryptocurrency

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SEC Charges Infinity Q Capital Founder With Valuation Fraud
SEC Charges Infinity Q Capital Founder With Valuation Fraud
February 17, 2022  |  Security & Fraud

The U.S. Securities and Exchange Commission (SEC) has charged James Velissaris, former chief investment officer and founder of Infinity Q Capital Management, with overvaluing assets...

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Judge Orders Man Detained Until Trial in NY Crypto Laundering Case
Judge Orders Man Detained Until Trial in NY Crypto Laundering Case
February 14, 2022  |  Legal

A federal judge, Chief U.S. District Judge Beryl Howell, has ordered the pretrial detention for a defendant, Ilya Lichtenstein, arrested on conspiring to launder billions...

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Malware Infiltrates 500 eCommerce Sites to Skim Card Data
Malware Infiltrates 500 eCommerce Sites to Skim Card Data
February 11, 2022  |  Fraud Attack

An estimated 500 eCommerce websites were infiltrated by MageCart attackers, who seemingly installed credit digital card skimmers to lift users’ personal data, including card numbers,...

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Hungary’s Central Bank Backs EU Crypto Ban
Hungary’s Central Bank Backs EU Crypto Ban
February 11, 2022  |  Cryptocurrency

The head of Hungary’s central bank says he supports a ban of cryptocurrency mining and trading in the European Union as the digital tokens could...

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