Law Enforcement | FinTelegram News

Category: Law Enforcement

Law Enforcement

May 3, 2023

International Law Enforcement Action Day against ‘Ndrangheta!

During an action day executed by 10 countries, 132 members of one of the world’s most powerful criminal networks have been taken into custody. On 3 May, law enforcement authorities in Belgium, Germany, Italy, France, Portugal, Slovenia, Spain, Romania, Brazil, and Panama raided multiple locations and seized several companies. Over 2 770 officers were involved on the ground during the action day.

April 28, 2023

CFTC Secures Court Order Against South African Scam Operator To Pay Over $3.4 Billion!

The U.S. Commodity Futures Trading Commission (CFTC) announced that it secured an order of default judgment and permanent injunction against Cornelius Johannes Steynberg, a South African citizen. For operating a fraudulent Bitcoin-based forex trading scheme Steynberg has to pay $1,733,838,372 in restitution to defrauded victims and a $1,733,838,372 civil monetary penalty. This is the highest civil monetary penalty ordered in any CFTC case.

April 20, 2023

Five High-Value Cybercrime Targets Arrested In Law Enforcement Action Days!

European Union legal agencies Eurojust and Europol have supported a coordinated action against a fraudulent online investment platform, which has defrauded 33,000 victims an estimated €89 million. Two days of police action took place in March, during which five suspects were arrested at requests of German authorities. Some 15 locations were searched in Bulgaria, Romania, and Israel. The searches included five illegal boiler rooms.

April 5, 2023

International Law Enforcement Action Took Down The Criminal Markets Place Genesis Market!

The U.S. Justice Department (DOJ) and Europol announced a coordinated international operation against Genesis Market, an online criminal marketplace that advertised and sold packages of account access credentials – such as usernames and passwords for email, bank accounts, and social media – that had been stolen from malware-infected computers around the world. It was an unprecedented law enforcement operation involving 17 countries.

April 5, 2023

Payvision And Frank: The Two Big FinTech Takeover Disasters And The Different Consequences.

Recently, Charlie Javice was arrested in New York and charged with fraud. She is the founder and former CEO of fintech Frank, which JP Morgan bought for $175 million. She allegedly misled JP Morgan about the true state of the company. In 2018, ING acquired Payvision, founded by Rudolf Booker, at a valuation of €360 million. ING expected Payvision to be a different company. The fintech made most of its revenue from merchants in the porn and gambling sectors - and with scammers.

April 5, 2023

Dubai Is No Safe haven: Alleged CumEx mastermind in Denmark’s largest tax fraud must be extradited!

After a lengthy legal tug-of-war, the court in Dubai has ruled that Sanjay Shah, the alleged mastermind in the so-called DKK 12.7 billion dividend fraud case, must now be extradited from Dubai to Denmark. This ended a legal tug-of-war that had lasted several years. He and another Briton named Anthony Mark Patterson allegedly unjustly pocketed billions of kroner in dividend tax refunds. Shah faces 12 years in prison if found guilty. He pleaded not guilty.

April 4, 2023

False Rumours About A Red Notice Against Binance CEO CZ Shaked The Crypto Markets!

The crypto market has been abuzz with rumors spread by Twitter user @cobie claiming that Interpol allegedly issued a Red Notice against Binance CEO Changpeng Zhao (CZ). Binance's BNB token and bitcoin (BTC) plunged but quickly recovered. The rumor traveled on the shoulders of the CFTC lawsuit against CZ and Binance and was therefore thought possible in the short term. CZ denied it on Twitter and declared the rumor fake.

April 3, 2023

Europol Report: ChatGPT Is A Perfect Tool To Increase Cybercrime Efficiency!

A new Europol Report on the AI-based Large Language Model (LLM) ChatGPT provides an overview of use cases for cybercrime activities. ChatGPT is already used to facilitate cybercrime activities, including producing texts for phishing campaigns or investment opportunities. The Europol report states that the efficiency of cybercrime organizations could be massively increased with the help of ChatGPT and, thus, the number of their victims.

March 31, 2023

UK Government Announced Economic Crime Plan 2 To Fight Corrupt Elites And Criminal Gangs!

The UK Government, law enforcement, and the private sector agree on a new plan to crack down on money laundering, kleptocracy, and sanctions evasion, the so-called Economic Crime Plan 2. The 3-year plan is intended to cut crime, protect our national security, and support the UK’s legitimate economic growth and competitiveness. Corrupt elites and criminal gangs who abuse our financial system will be identified and stripped of their cash through a new plan to tackle economic crime.

March 30, 2023

No! Payvision And Rudolf Booker Are Not Defendants In The German Indictments!

A whistleblower asked us if Payvision or its founder Rudolf Booker was also named a defendant in the German indictment against Gal Barak. The question is justified because tens of millions of the victims of Barak's broker scams have deposited via Payvision. The criminal files show that as Payvision's CEO at the time, Booker knew that Barak was running scams and defrauding customers. But to our knowledge, he is not listed as a defendant in the German indictment.

March 29, 2023

Ralph Hamers UBS Resignation May Or May Not Be Related To Ongoing Dutch Investigations And The Payvision Disaster!

As reported by FinTelegram, the former ING CEO Ralph Hamers will step down from his job as CEO of Switzerland's UBS Group at the beginning of April 2023 after nearly 29 months on the job. He will be replaced by a predecessor Sergio P. Ermotti. This surprising move may be related to the acquisition of Credit Suisse, or it may be related to ongoing investigations into money laundering in Holland. It has not yet been decided whether charges will be brought against Hamers.

March 29, 2023

Gal Barak Case: German Trial May Be Scheduled For Late 2023; Potential Witnesses Threatened!

We reported last week on the decision of the Court of Justice of the European Union (CJEU) in the case of Gal Barak. The CJEU stated that Barak and his accomplices could be charged in any EU member state where they defrauded citizens with broker scams. Thus, according to the information available, the German prosecutor's office around Nino Goldbeck will move forward quickly with the indictment of Gal Barak and his wife, Marina Barak. A trial in Germany could begin in the fall.