May 3, 2024 at 05:24PM BioCatch, a leader in digital fraud detection and financial crime prevention through behavioral biometric intelligence, is acquired by Permira Growth Opportunities II. The majority stake acquisition aims to accelerate global expansion, advance product roadmap and support continued growth. BioCatch is recognized for its innovative approach and influential customer base in … Read more
May 1, 2024 at 11:00AM A forensic analysis of a graph dataset of Bitcoin transactions by Elliptic and MIT-IBM Watson AI Lab revealed clusters linked to illicit activity and money laundering. The 26 GB dataset, Elliptic2, applies machine learning to detect criminal proceeds and unknown wallets, offering potential in combating financial crime using graph convolutional … Read more
April 25, 2024 at 01:23PM Two men, alleged co-founders of cryptocurrency firm Samourai Wallet, face serious charges over facilitating money laundering of over $100 million. They are accused of running an unlicensed money-transmitting business and enabling transactions outside of regulatory rules. The US arrested Rodriguez, while Hill was apprehended in Portugal and is awaiting extradition. … Read more
March 7, 2024 at 09:34AM Nigerian national Henry Echefu pleaded guilty in a US court to his role in a business email compromise (BEC) fraud scheme causing about $200,000 in losses. Echefu and co-conspirators engaged in unauthorized access to email accounts, instructing victims to make wire transfers. He faces up to 20 years in prison … Read more
March 4, 2024 at 09:36AM Cybercriminals in India use the XHelper app to manage money mules for a large money laundering operation. The scheme exploits loopholes in Indian payment system regulations and involves Chinese payment gateways and a network of compromised mule accounts. XHelper facilitates mule management, recruitment, training, and communication, contributing to a thriving … Read more
February 5, 2024 at 12:04PM Belarusian and Cypriot national extradited to the U.S. due to alleged connections to cryptocurrency exchange BTC-e. Facing charges for money laundering and running unlicensed money services business. BTC-e accused of facilitating cybercrimes. DOJ charging individuals related to cryptocurrency thefts and cybercrime groups. Notable cases include SIM swapping attacks and digital … Read more
January 8, 2024 at 12:09AM North Korean threat actors plundered over $600 million in cryptocurrency in 2023, amounting to almost a third of all funds stolen in crypto attacks. These financially-motivated attacks support the nation’s weapons programs, with stolen assets typically converted to hard currency. The U.S. Treasury Department’s sanctions have not halted their evolving … Read more
December 20, 2023 at 06:51AM In a six-month international operation named HAECHI IV, authorities from 34 countries arrested 3,500 suspects and seized $300 million in assets related to various online financial frauds like business email compromise, investment fraud, and online gambling. Europol also released a report underscoring the growing threat of investment fraud and BEC … Read more
December 20, 2023 at 04:03AM The international police operation HAECHI-IV led to the arrests of 3,500 individuals in 34 countries, targeting financial crimes including voice phishing, romance scams, and investment fraud, and seizing $300 million. Authorities also froze 82,112 suspicious bank accounts, confiscating $199 million in hard currency and $101 million in virtual assets. Novel … Read more
December 14, 2023 at 02:54PM Four suspects, including residents of California and Illinois, have been charged by the U.S. Department of Justice in a pig butchering fraud scheme, leading to over $80 million in losses for victims. They are accused of money laundering and operating shell companies to launder profits from cryptocurrency scams, ultimately siphoning … Read more