Log In | Subscribe | |

FinancialCrimeRiskOfficers.com

Unlike reporting suspected tax fraud to the IRS, reporting suspicions of customs duty or tariff fraud can be a simple matter. But if you want to claim a reward, it's far more complex.

FREE CONTENT

When you come across an American person or company, anywhere in the world, who is or appears to be failing to pay federal taxes properly due, under US law, you can make a report to the Inland Revenue Service and, in some cases, receive a very substantial reward - as much of 30% of the tax recovered. And it's independent of FATCA.

FREE CONTENT

While the UK was under attack from the IRA and others, it was realised that reactive policing did not provide preventative protection. While specialist units had long been in place for undercover work in relation to both terrorism and organised crime, the models worked, largely, because the targets were known or could be associated with a class of persons. And, of course, individual officers had a network of informants upon whom they relied. But, again, much of this was reactive or, insofar as information could prevent an action, led to internment rather than prosecution. Something had to be done and that something became, in 2000, the National Intelligence Model under which policing became intelligence-led.

Terrence J. McNeil, 24, of Akron, Ohio, has pleaded guilty to five counts of solicitation to commit a crime of violence and five counts of making threatening interstate communications involving his soliciting the murder of members of the U.S. military. The case shows a potential hole in laws around the world.

ICANN is the global supervisory body for internet domains. But it's a commercial concern, given the nod by, primarily, the US government. Its failure to take steps to prevent the registration of fraudulent domains is spectacular but that pales against its dismal performance when an obviously fraudulent domain is reported. We know. We tested it when a fraudster registered and used a domain designed to appear as belonging to HM Revenue and Customs, (see Fraud / phishing scam uses "close enough" UK Revenue domain. The US Government conspires to facilitate widespread internet crime.

THIS ARTICLE IS FREE TO READ

It's good when some novel conduct comes up: it helps FCROs and others avoid terminal boredom. One that's appeared in Australia might not be new but it's uncommon enough to be interesting - and it's carefully designed to be difficult to spot as it takes place within the ordinary course of business. For those in "all-crimes" jurisdictions, it's something new to try to watch out for.

In the history of acronyms, we had KYC then KYE.. customer then employee.

There are several matters of grave concern to Banks regulated by the Federal Reserve Board, both domestic and foreign.

A municipal manager, Sindile Tantsi, has been suspended while South Africa's National Prosecutiing Authority investigate allegations of corruption. Meanwhile, his car, a Mercedes Benz has been seized - along with its car-port.

A data breach affecting millions of US taxpayers may result in fraudulent tax returns in this current tax reporting season.

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.

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.

Yesterday morning, the Vice Chairman of a Samsung Group company (and generally considered the de facto chairman of the Group) arrived at the office of the prosecutor investigating a political scandal that is swamping President PARK Guen-Hye and her associates. The investigation is rippling out across Korea's rich, famous and powerful and, in the case of Samsung, is looking at how apparently "good" money may turn out to have been "bad." Can FCROs identify which is which?

Richard Rufus used to be a soccer player for a team called Charlton Athletic. The Insolvency Service brought a case before the High Court which said that Rufus created a GBP16 million Ponzi scheme. The Insolvency Service said it was one of the worst cases they had ever seen. Rufus claimed to be a born again Christian. Victims tried to avoid being identified at the time of the civil trial which saw Rufus subject to a 15 year bankruptcy order. But now, information has come to light that a 12,000 member church in the UK has lost the best part of GBP4 million.

Pages

 


 

Click the Ad: the link opens in a new page