Financial Crime UK – Atos Victims Group http://atosvictimsgroup.co.uk/ Fri, 04 Jun 2021 22:31:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://atosvictimsgroup.co.uk/wp-content/uploads/2021/05/default1.png Financial Crime UK – Atos Victims Group http://atosvictimsgroup.co.uk/ 32 32 7 questions with John Gibson of Cohen & Gresser https://atosvictimsgroup.co.uk/7-questions-with-john-gibson-of-cohen-gresser/ https://atosvictimsgroup.co.uk/7-questions-with-john-gibson-of-cohen-gresser/#respond Fri, 04 Jun 2021 17:35:00 +0000 https://atosvictimsgroup.co.uk/7-questions-with-john-gibson-of-cohen-gresser/ Law360, London (June 4, 2021, 6:35 PM BST) – Joining Cohen & Gresser of the Serious Fraud Office allowed John Gibson to use his experience in international corruption prosecutions to advise the London clients of the US firm on navigating investments in high-risk jurisdictions and avoiding the line of sight of law enforcement. John Gibson […]]]>


Law360, London (June 4, 2021, 6:35 PM BST) – Joining Cohen & Gresser of the Serious Fraud Office allowed John Gibson to use his experience in international corruption prosecutions to advise the London clients of the US firm on navigating investments in high-risk jurisdictions and avoiding the line of sight of law enforcement.

John Gibson Gibson joined Cohen & Gresser LLP in 2018 to lead the firm’s new UK white-collar and investigation practice. The move follows a five-year stint as senior prosecutor and investigator in the SFO’s Bribery and Corruption Unit.

While at the OFS, he investigated and prosecuted two leaders of the oil and gas industry in …

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Economic crime UK legislative reforms: impact for businesses | Allen & Overy LLP https://atosvictimsgroup.co.uk/economic-crime-uk-legislative-reforms-impact-for-businesses-allen-overy-llp/ https://atosvictimsgroup.co.uk/economic-crime-uk-legislative-reforms-impact-for-businesses-allen-overy-llp/#respond Thu, 03 Jun 2021 18:07:19 +0000 https://atosvictimsgroup.co.uk/economic-crime-uk-legislative-reforms-impact-for-businesses-allen-overy-llp/ Among the legislative reform proposals presented by the British government inventory on its plan to fight economic crime, here are some highlights for large companies. Information sharing A consultation is underway to establish a new information sharing gateway to enable businesses to better share information and intelligence to prevent and detect more crime. It seems […]]]>


Among the legislative reform proposals presented by the British government inventory on its plan to fight economic crime, here are some highlights for large companies.

Information sharing

A consultation is underway to establish a new information sharing gateway to enable businesses to better share information and intelligence to prevent and detect more crime. It seems that this exercise will focus on the sharing of information between companies in the same sector and between companies and public authorities. The program aims to enable businesses to better understand and mitigate the risks of financial crime (for example by preventing criminals who have been denied access to services on suspicion of financial crime from moving between different competitors in the same industry. ) and improve the quality of information provided to enforcement authorities.

Some voluntary sharing of information is already permitted between actors in the regulated sector, for example as part of the amendments to the Proceeds of Crime Act 2002 (POCA) by the Criminal Finances Act 2017 and also under the auspices of the Joint Money Laundering Intelligence Taskforce (JMLIT). In May 2020, the UK government released its statement on information sharing within business groups.

It appears that this new gateway is intended to expand information sharing, especially within the private sector. Businesses will need to understand how the new gateway provisions will interact with their data privacy obligations and disclosure provisions, as well as whistleblower and “investigative harm” offenses, under the POCA. Businesses are also likely to want to see improved information flows from the public sector to the private sector in order to refine their own money laundering systems and controls.

Timeline: The consultation should be completed by fall 2021.

Revision of the Money Laundering Regulations 2017

A consultation will seek advice on how the UK’s regulatory and supervisory regimes can tackle money laundering and terrorist financing, while reducing unnecessary burdens on businesses. This will include a comparison of the UK’s existing legislative framework with the Financial Action Task Force’s international standards on Money Laundering and Terrorist Financing, and examine new features of economic crime, such as brokerage. crypto assets and the role of social media in investing. frauds.

Businesses covered by money laundering regulations (MLRs) should now be accustomed to the need to keep abreast of changes. For example, over the past four years, they have been amended following the Fifth EU Money Laundering Directive to take into account changing risks (e.g. adding crypto asset exchange providers and custodian wallet providers in the scope). Brexit also required a series of largely minor changes. This revision is likely to offer an additional update and will probably keep in mind any changes at EU level, motivated by equivalence considerations. The 2017 Money Laundering Regulations have never been so high on the minds of the regulated industry, with both the FCA and HMRC having imposed heavy penalties on companies for breaches, and recent news from the FCA’s first lawsuit against a bank. Companies falling within the scope (or those that may fall within the scope) of MLRs will need to be agile to meet regulatory expectations.

Timetable: revision which should start “soon”.

Reform of Suspicious Activity Reports (SAR)

The reform of the SAR reporting regime has been widely followed, but the state of play refers to a new feature: an exemption for “ineffective DAML reporting”. There aren’t more details on this, but the label perhaps suggests that an “ineffective” DAML would not be a defense against money laundering. If so, it would not be surprising given the government’s objective of ensuring that the SAR regime provides useful information. However, businesses would need to know when this exemption could apply.

Regarding SAR confidentiality, the statement simply states that the Home Office continues to consult with law enforcement and private sector partners to develop guidelines regarding SAR confidentiality in civil litigation. . This is an area of ​​particular interest to those in the regulated industry. In 2018 a bank has been ordered to disclose a SAR to a client in the context of civil litigation.

Timetable: legislative proposals expected in autumn 2021.

Prevention of listing on the market for reasons of national security

The government has announced its intention to advance the introduction of a power to freeze stock quotes for reasons of national security. The move aims to stem the flow of dirty money into the London stock markets and has been requested by MPs and analysts since EN + was listed in 2017. The consultation is now closed and the Treasury is expected to present the details of the proposals shortly. This will be of great interest to potential listing targets and their advisers, who could find themselves in the crosshairs of geopolitics.

Timeline: the publication of the consultation was scheduled for early 2021.

Strengthen corporate transparency

The government released its response to the consultation on the reform of Companies House last September. Aimed at tackling abuse of UK corporate structures and improving the accuracy of information held on companies, proposed reforms include the introduction of digital identity checks on directors, presenters and those exercising control. important, and increased powers for the Registrar of Companies to request information and share it with other agencies. The government is also considering moving forward to ban corporate directors.

Calendar: update scheduled for September 2021.

There was nothing in the progress on corporate criminal liability or on changes to the market abuse regime. The state of play simply notes that the FCA’s internal review of the Criminal Market Abuse Regime is currently being reviewed by a QC. The Law Commission is currently studying corporate criminal liability.

Comment

The private sector is at the forefront of the UK government’s fight against economic crime. After Brexit and after Covid, the government is keen to promote Global Britain as a safe and clean place to do business. Economic crime does not fit well into this brand proposition.

The UK government’s legislative agenda is based on increased collaboration with the private sector to fund and strengthen the UK’s response to economic crime. The Treasury seeks to raise around £ 100million per year from regulated entities for anti-money laundering purposes to fund anti-money laundering capabilities (an ‘economic crime levy’) ). At the same time, many reforms will inevitably increase the administrative burden (and therefore costs) on the regulated sector.

It is recognized in the progress statement that the private sector needs to be supported to better understand and manage the risks of financial crime. The majority of the proposals are expected to be finalized by the end of the year, when there will inevitably be new challenges for large companies in economic crime as the UK emerges from lockdown and adjusts to a new way of life.

Adapting to stricter AML requirements, staying abreast of changes in corporate criminal liability and navigating geopolitics were three of the nine key challenges for in-house lawyers that were identified in 2021. Allen & Overy Cross-Border White Collar Crime and Investigation Review.



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EU anti-fraud suit launched with high hopes and challenges https://atosvictimsgroup.co.uk/eu-anti-fraud-suit-launched-with-high-hopes-and-challenges/ https://atosvictimsgroup.co.uk/eu-anti-fraud-suit-launched-with-high-hopes-and-challenges/#respond Wed, 02 Jun 2021 23:15:00 +0000 https://atosvictimsgroup.co.uk/eu-anti-fraud-suit-launched-with-high-hopes-and-challenges/ Law360, London (June 3, 2021, 12:15 a.m. BST) – The first bloc-wide European Union prosecutor’s office was launched this week in hopes it will be a game-changer in the fight against crimes that damage the EU’s finances, but its authority and capacity are already strained. Even before starting its first investigation, the new European Public […]]]>


Law360, London (June 3, 2021, 12:15 a.m. BST) – The first bloc-wide European Union prosecutor’s office was launched this week in hopes it will be a game-changer in the fight against crimes that damage the EU’s finances, but its authority and capacity are already strained.

Even before starting its first investigation, the new European Public Prosecutor’s Office encountered political resistance from member states and pressure on resources. It opened on Tuesday with dozens of national investigators yet to be recruited.

However, expectations are high for the European Public Prosecutor’s Office, an independent agency made up of 22 EU countries which is designed to prosecute criminal cases which …

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Financial Crime and Fraud Management Solutions Market Size and Share 2021 https://atosvictimsgroup.co.uk/financial-crime-and-fraud-management-solutions-market-size-and-share-2021/ https://atosvictimsgroup.co.uk/financial-crime-and-fraud-management-solutions-market-size-and-share-2021/#respond Wed, 02 Jun 2021 07:35:54 +0000 https://atosvictimsgroup.co.uk/financial-crime-and-fraud-management-solutions-market-size-and-share-2021/ The report, titled Financial Crime and Fraud Management Solutions Market, is one of the most comprehensive and essential additions to Reports Globe’s market research archive. It provides detailed research and analysis on key aspects of the Financial Crime and Fraud Management Solutions market. The market analysts who authored this report have provided in-depth insights into […]]]>


The report, titled Financial Crime and Fraud Management Solutions Market, is one of the most comprehensive and essential additions to Reports Globe’s market research archive. It provides detailed research and analysis on key aspects of the Financial Crime and Fraud Management Solutions market. The market analysts who authored this report have provided in-depth insights into key growth drivers, restraints, challenges, trends, and opportunities to offer a comprehensive analysis of the Financial Crime Management Solutions and Crime Management Solutions market. fraud. Market players can use the analysis of market dynamics to plan effective growth strategies and prepare for future challenges in advance. Each trend in the Financial Crime & Fraud Management Solutions market is carefully analyzed and reviewed by market analysts. Market analysts and researchers have performed an in-depth analysis of the Financial Crime and Fraud Management Solutions Market using a research methodology such as PESTLE and Porter’s Five Forces Analysis. They have provided accurate and reliable market data and useful recommendations to help players gain insight into the current and future market scenario. The Financial Crime & Fraud Management Solutions report provides an in-depth study of the potential segments including product type, application, and end-user, along with their contribution to the overall market size.

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Additionally, the market revenue by region and country is shown in the Financial Crime & Fraud Management Solutions report. The authors of the report also shed light on common trading tactics used by gamers. Major players in the Financial Crime and Fraud Management Solutions market and their complete profiles are included in the report. Furthermore, the report presents the investment opportunities, recommendations and trends currently in vogue in the financial crime and fraud management solutions market. This report will enable the major players in the Financial Crime and Fraud Management Solutions market to make informed decisions and plan their strategies accordingly to stay ahead of the game.

The competitive landscape is a critical aspect that every key player must be aware of. The report throws light on the competitive scenario of the Financial Crime and Fraud Management Solutions Market to know the competition at national and global level. The market experts also gave an overview of each major player in the Financial Crime & Fraud Management Solutions market, taking into account important aspects such as business areas, production, and product portfolio. Additionally, the companies are examined in the report on the basis of key factors such as company size, market share, market growth, revenue, production volume, and profit.

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Market segmentation of financial crime and fraud management solutions:

Financial Crime and Fraud Management Solutions Market, By Application (2016-2027)

  • Banks
  • Credit unions
  • Specialized finance
  • Savings
  • O

Financial Crime and Fraud Management Solutions Market, By Product (2016-2027)

Key Players Operating in Financial Crime & Fraud Management Solutions Market:

  • Dell EMC
  • ACI in the world
  • Experian Information Solutions
  • Oracle Corporation
  • Fiserv
  • SAS Institute
  • Capgemini
  • NICE

Regional analysis:

The report provides information about the market area, which is further subdivided into sub-regions and countries. Besides the market share in each country and sub-region, this chapter of this report also provides information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region during the estimated period.

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Russia, Spain, Netherlands, Switzerland, Belgium)
  • Asia Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Vietnam)
  • Middle East and Africa (Turkey, Saudi Arabia, United Arab Emirates, South Africa, Israel, Egypt, Nigeria)
  • Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru).

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Key questions addressed in the report:

  • What is the growth potential of the financial crime and fraud management solutions market?
  • Which product segment will take the lion’s share?
  • Which regional market will be a pioneer in the years to come?
  • Which application segment will grow sustainably?
  • What growth opportunities might arise in the financial crime and fraud management solutions industry in the years to come?
  • What are the biggest challenges facing the financial crime and fraud management solutions market in the future?
  • Who are the leading companies in the financial crime and fraud management solutions market?
  • What are the main trends that will positively affect the growth of the market?
  • What are the growth strategies that players are pursuing to maintain their position in the financial crime and fraud management solutions market?

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US and Swedish authorities report tighter crypto oversight as UK banks restrict transfers to digital currency exchanges https://atosvictimsgroup.co.uk/us-and-swedish-authorities-report-tighter-crypto-oversight-as-uk-banks-restrict-transfers-to-digital-currency-exchanges/ https://atosvictimsgroup.co.uk/us-and-swedish-authorities-report-tighter-crypto-oversight-as-uk-banks-restrict-transfers-to-digital-currency-exchanges/#respond Tue, 01 Jun 2021 10:49:41 +0000 https://atosvictimsgroup.co.uk/us-and-swedish-authorities-report-tighter-crypto-oversight-as-uk-banks-restrict-transfers-to-digital-currency-exchanges/ Topline Financial regulators in Sweden and the United States both hinted at impending crackdowns on largely unregulated cryptocurrency markets over Memorial Day weekend, noting the absence of a coherent framework for the new technology, the specter of financial crime and the risks to consumers posed by crypto exchange platforms, to which a number of UK […]]]>


Topline

Financial regulators in Sweden and the United States both hinted at impending crackdowns on largely unregulated cryptocurrency markets over Memorial Day weekend, noting the absence of a coherent framework for the new technology, the specter of financial crime and the risks to consumers posed by crypto exchange platforms, to which a number of UK banks have reportedly blocked customers from transferring money.

Highlights

Michael Hsu, the New interim controller of the currency, Told the Financial Times he wanted US agencies to coordinate and define a “regulatory perimeter” for cryptocurrencies and take a more active role in regulating the market, which he said there was appetite for.

On Monday, the governor of the Swedish central bank, Stefan Ingves, Told Stricter Bloomberg regulation is likely on the horizon for bitcoin and other digital assets, especially when the market is so large that “things like consumer interests and money laundering come into play.” .

Specific monitoring “will likely occur at different times in different areas,” Ingves said.

Asa Lindhagen, Swedish Minister for Financial Markets, Told Bloomberg, the country, is already cracking down on trading platforms and working with other regulators around the world to tackle the problem of money laundering.

Lindhagen said international efforts are a “work in progress,” while stressing the inherent cross-border dimensions of financial crime.

A number of banks in the UK, including Starling, Monzo and Barclays, have would have suspended payments to cryptocurrency exchanges in recent weeks in an effort to address “high levels of suspected financial crime with such a payment,” according to The telegraph.

Key context

The extreme volatility of the cryptocurrency markets, the high risks of financial crime and the growing popularity have prompted financial regulators around the world to think about how best to implement the necessary collateral in the digital ecosystem without suffocating. innovation. China – which like Sweden is developing its own digital currency – cracked down on financial institutions that trade digital assets in May, contributing to a rapid market contraction of nearly 30%. The Biden administration is actively investigating “gaps” in crypto oversight, and SEC Chairman Gary Gensler recently Told a House committee on the fact that there was a potential need for dedicated legislation governing crypto exchanges. Money laundering and illicit activity are at the center of the Treasury Department’s crypto efforts, he said.

Crucial quote

Hsu, in a testimony from Congress in May, mentionned he felt a “déjà vu” about the current enthusiasm for financial innovation and the years leading up to the financial crisis. The new tools under development “bring great promise … but also risks,” he said.

Tangent

President Biden’s law enforcement plan, which will help fund his plan for American families, explains the crypto boom. It extends financial movement reporting metrics to crypto platforms to detect unreported income.

Further reading

Bitcoin unlikely to escape regulation, says Riksbank governor (Bloomberg)

U.S. regulators report bigger role in cryptocurrency market (Financial Times)

Banks block payments to crypto exchanges (Telegraph)

Biden officials reportedly discussed ‘loopholes’ in cryptocurrency rules in response to wild price swings (Forbes)



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Interpol seizes £ 58.4million in multinational crackdown on financial cybercrime https://atosvictimsgroup.co.uk/interpol-seizes-58-4million-in-multinational-crackdown-on-financial-cybercrime/ https://atosvictimsgroup.co.uk/interpol-seizes-58-4million-in-multinational-crackdown-on-financial-cybercrime/#respond Mon, 31 May 2021 16:33:10 +0000 https://atosvictimsgroup.co.uk/interpol-seizes-58-4million-in-multinational-crackdown-on-financial-cybercrime/ A six-month crackdown in the Asia-Pacific region coordinated by Interpol resulted in the seizure of around £ 58.4million in funds that were stolen by fraudsters through scams such as fraud investment, romance scams, online sextortion and voice phishing. Operation HAECHI-I, which ended in March this year, involved the participation of Interpol as well as law […]]]>


A six-month crackdown in the Asia-Pacific region coordinated by Interpol resulted in the seizure of around £ 58.4million in funds that were stolen by fraudsters through scams such as fraud investment, romance scams, online sextortion and voice phishing.

Operation HAECHI-I, which ended in March this year, involved the participation of Interpol as well as law enforcement authorities from Cambodia, China, Indonesia, Korea, Laos, Philippines, Singapore, Thailand and Vietnam. The operation aimed to seize stolen funds and catch cybercriminals involved in a variety of investment scams and other types of online financial crime.

Since September of last year, these agencies have opened more than 1,400 investigations, of which 892 cases have been resolved to date, resulting in the seizure of $ 83 million from cybercriminals, the freezing of more than 1,600 bank accounts worldwide. and the arrest of 585 people.

“Online fraudsters often attempt to exploit the borderless nature of the Internet by targeting victims in other countries or by transferring their illicit funds abroad. The results of Operation HAECHI-I demonstrate that online financial crime is fundamentally global and that only close international cooperation will allow us to effectively fight these criminals ”. mentionned Ilana de Wild, Director of Organized and Emerging Crime at INTERPOL.

One of the cases solved by law enforcement involved a fraduster posing as business partners of a Korean company and serving the company with several fraudulent invoices containing his bank account details instead of those of the legitimate business partner. Falling into the trap, the company transferred nearly $ 7 million to the scammer before realizing it had been defrauded. Law enforcement authorities were able to quickly freeze half of the stolen funds and the case is still under investigation.

This case reminds us of a similar incident which involved a Lithuanian national targeting Google and Facebook employees with spear phishing attacks, posing as a supplier and defrauding the two companies between 2013 and 2015. Evaldas Rimasauskas, the Lithanian fraudster was sentenced to five years in prison and fined over $ 49.7 million by federal court in Manhattan at the end of 2019.

In November 2019, Nikkei also announced that an employee of its US subsidiary had been tricked by a cybercriminal into transferring up to $ 29 million (£ 22.6 million) to the latter’s account. In 2017, employees of India’s only government airline, Air India, succumbed to a phishing scam orchestrated by Nigerian hackers who impersonated Pratt & Whitney employees and tricked the latter into transferring $ 300,000 ( £ 230,905) to a bank account in Nigeria.

In September 2017, a con artist also swindled MacEwan University in Canada out of C $ 11.8 million after convincing employees to change a vendor’s payment details using email communications. After the phishing attack was discovered, the university said “controls around the process for changing vendor bank information were inadequate and a number of fraud identification opportunities had been missed.” .

According to Interpol, while cybercriminals have long been carrying out Business Email Compromise (BEC) scams, the arrival of the COVID-19 pandemic has been used to the maximum to target a large number of organizations around the world for the purpose of financial gain.

Interpol said that attracted by the potential for impact and high financial rewards, cybercriminals are now using disruptive malware and ransomware against critical infrastructure and healthcare facilities, with a majority of hackers fairly accurately estimating the maximum amount of ransom they could demand from the targeted organizations.

Using information related to COVID-19 as a lure, hacker groups are also injecting data collection malware such as remote access Trojans, information thieves, spyware and horses. banking Trojans in corporate computer networks to compromise networks, steal data, embezzle money and create botnets.

Since the pandemic took shape, Interpol has also observed a significant increase in the establishment of fraudulent and malicious web domains containing keywords related to COVID-19 such as “coronavirus” or “COVID”. Between February and March, an Interpol private sector partner reported a 569% growth in malicious registrations, including malware and phishing, and a 788% growth in high-risk domain registrations.



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2 killed and more than 20 injured in Florida shooting https://atosvictimsgroup.co.uk/2-killed-and-more-than-20-injured-in-florida-shooting/ https://atosvictimsgroup.co.uk/2-killed-and-more-than-20-injured-in-florida-shooting/#respond Sun, 30 May 2021 19:25:31 +0000 https://atosvictimsgroup.co.uk/2-killed-and-more-than-20-injured-in-florida-shooting/ Axios At least 2 killed, 20 injured in ‘targeted and cowardly’ mass shooting in Miami At least two were killed, and 20 to 25 others injured, when three people exited an SUV carrying assault rifles and handguns and began “indiscriminately shooting the crowd” in front of a concert in Miami early Sunday, according to a […]]]>


Axios

At least 2 killed, 20 injured in ‘targeted and cowardly’ mass shooting in Miami

At least two were killed, and 20 to 25 others injured, when three people exited an SUV carrying assault rifles and handguns and began “indiscriminately shooting the crowd” in front of a concert in Miami early Sunday, according to a police statement and the Miami Herald. Why it matters: This is the second Memorial Day Weekend shoot in Miami this year – seven people were shot dead, one of whom died, in the city on Friday night. The murders come as the country experienced a wave of mass gun violence in 2021. Receive market news worthy of your time with Axios Markets. Subscribe for free.Details: Investigators from the police homicide bureau are looking for perpetrators in the Sunday morning shooting. Police say they got back in the SUV – a white Nissan Pathfinder – and fled the scene. Eight of the victims were transferred to Miami-Dade and Broward hospitals. Twelve other victims “were self-transported” to hospitals in the region, the statement said. One of the victims was in critical condition. What He Says: “This type of gun violence must stop,” Miami-Dade Police Director Alfredo “Freddy” Ramirez III said, according to the Herald. “Every weekend it’s the same. It’s targeted, it’s certainly not random. I am at the scene of yet another act of targeted and cowardly gun violence, where more than 20 victims were shot and 2 sadly died. They are cold blooded murderers who indiscriminately shot a crowd and we will seek justice. My deepest condolences to the families of the victims. – Alfredo “Freddy” Ramirez III (@MDPD_Director) May 30, 2021 Editor’s note: This article is updated as more details are revealed. trends with Axios Markets. Subscribe for free



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Matt Gaetz says thousands of dollars to shut down yacht with his fiancee ‘are missing’ https://atosvictimsgroup.co.uk/matt-gaetz-says-thousands-of-dollars-to-shut-down-yacht-with-his-fiancee-are-missing/ https://atosvictimsgroup.co.uk/matt-gaetz-says-thousands-of-dollars-to-shut-down-yacht-with-his-fiancee-are-missing/#respond Sat, 29 May 2021 21:52:58 +0000 https://atosvictimsgroup.co.uk/matt-gaetz-says-thousands-of-dollars-to-shut-down-yacht-with-his-fiancee-are-missing/ Florida Congressman Matt Gaetz, who has blamed extortionists for his spate of sex scandals, now says “malicious actors” stole more than $ 150,000 from him while he was trying to buy a boat. A spokesperson for Mr. Gaetz says WFLA that a large sum of money “went missing” after Congressman and his fiancée, Ginger Luckey, […]]]>


Florida Congressman Matt Gaetz, who has blamed extortionists for his spate of sex scandals, now says “malicious actors” stole more than $ 150,000 from him while he was trying to buy a boat.

A spokesperson for Mr. Gaetz says WFLA that a large sum of money “went missing” after Congressman and his fiancée, Ginger Luckey, attempted to buy a $ 155,000 yacht named Ol Pappy.

“Representative Gaetz and Ms. Luckey have been the target of financial crime,” the spokesperson said said to the station, adding that the congressman has been “targeted by malicious actors, first domestic and now foreign”.

The spokesperson did not say how much money was lost, but said “federal law enforcement” was investigating the case. The FBI declined the WFLA’s request for comment.

Sources at the St. Petersburg marina where Ol Pappy is moored say the boat was suddenly renamed “Thirsty” in late April, around the time Mr Gaetz’s purchase of the vessel was supposed to close.

“A bit premature without the ownership of the boat,” said Jon Golly, a boat owner at the same marina who says he saw Mr Gaetz and Ms Luckey as they inspected the yacht.

Mr. Gaetz is already mired in controversy. The Justice Department is now several months into its investigation into whether the congressman hired women for sex across state lines, which could potentially have violated sex trafficking laws. He is also investigating whether Mr Gaetz had sex with a 17-year-old girl and paid for her to travel with him.

Mr. Gaetz has vehemently denied these allegations and has not been charged with any crime.

“Over the past few weeks, my family and I have been the victims of an organized criminal extortion involving a former DOJ official seeking $ 25 million while threatening to smear my name,” the congressman said in a series of reports. tweets when the investigation first came to light. .

However, the investigation appears to be approaching Mr. Gaetz’s most intimate circle. The congressman’s ex-girlfriend is reportedly now cooperating with the Justice Department, and her friend, former Florida tax collector Joel Greenberg has reached a plea deal over his own accusations of soliciting relationships sex with a minor.

None of this appears to have held back Mr Gaetz, who is currently traveling on a nationwide tour and recently announced he would run for president in 2024 if Donald Trump does not.



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Blockchain and… crime prevention? | University https://atosvictimsgroup.co.uk/blockchain-and-crime-prevention-university/ https://atosvictimsgroup.co.uk/blockchain-and-crime-prevention-university/#respond Fri, 28 May 2021 23:00:00 +0000 https://atosvictimsgroup.co.uk/blockchain-and-crime-prevention-university/ The most widely used cryptocurrency, Bitcoin, has recently been used to identify human traffickers.FLICKR IMAGE Although only a little over a decade old, blockchain has practically spawned a technological revolution – a revolution that could reshape the processes of finance, medical administration, supply chains, education, well … pretty much most things you can think of. […]]]>



The most widely used cryptocurrency, Bitcoin, has recently been used to identify human traffickers.FLICKR IMAGE

Although only a little over a decade old, blockchain has practically spawned a technological revolution – a revolution that could reshape the processes of finance, medical administration, supply chains, education, well … pretty much most things you can think of. As messy as it sounds, the basic concept of blockchain is actually quite simple: it is basically a collection of records (“ block ”) linked together (“ chain ”), with its decentralized, non-modifiable and cryptographically protected information. The blockchain is the mother of the 6000+ cryptocurrencies that exist today and of course that includes the famous (or rather, some say infamous) Bitcoin.

It is of great concern that this very design makes blockchain the perfect creation for criminals. This is mainly due to the fact that the use of cryptocurrencies has made it easier to secure underground transactions without having to go through a centralized bank. Such anonymity has introduced challenges for law enforcement to track perpetrators of crimes such as theft, scams, money laundering and terrorism, as well as sex and labor trafficking. From January to May 2020, financial losses from cryptocurrency-related thefts appear to have peaked and reached a whopping $ 1.4 billion.

But things are not so hopeless, as data analysts are tasked with studying how the blockchain itself could indeed be the same tool used to tackle the crimes it lends a platform to. In 2017, computer scientist Rebecca Portnoff and her colleagues explained how cryptocurrency can help us follow the breadcrumb trail of sex traffickers. The team developed a machine learning classifier that takes advantage of stylometry – the study of writing style through quantitative processing – to first distinguish between independent sex providers and potential sex traffickers. about online sex ads. From there, computer bonding techniques use leaks in the cryptocurrency “ mempool ” (a space that contains pending cryptocurrency transactions) to link to these potential traffickers. This promising technology may however see certain limits beyond its control, such as the limitations inherent in stylometry (or rather, general forensic linguistics).

More recently, through a process called “ congestion, ” companies that are used to fight crypto-crime now have the ability to identify accounts under the same Bitcoin wallet and entity (after all, Bitcoin as crypto -money is a public record of transactions and not entirely unobtainable). Companies such as Bitfury’s Crystal engage in the detection of potential illicit activity, recently assisted the Ukrainian Ministry of Digital Transformation to reach this goal. On a related note, the Bitcoin Intelligence Group (BIG) has partnered with the Anti-Trafficking in Human Beings Intelligence Initiative (ATII) to track down human traffickers, primarily by updating their data. cryptographic transactions as well as addresses suspected of being relevant to human trafficking. . CipherTrace, claimed to be the world’s first blockchain forensics team and leader in blockchain security, has embarked on similar missions with ATII.

Finally, there is the question of knowing what happens with the involvement of biometrics, that is to say biological measures allowing individuals to be identified (fingerprints, facial recognition, etc., to name a few). ‘a couple). David Orme, Senior Vice President of Sales and Marketing at IDEX Biometrics, invites reflection on whether biometrics can hinder crypto-crime. The claim stems from concerns about the fragility and potential insecurity of both “ active wallets ” (hard devices that can connect to the Internet, such as tablets and laptops) and “ cold wallets ” (devices outside line such as USB drives that store cryptographic data). Although the issue of ‘when biometrics meets blockchain’ has been raised in areas such as food logistics and aviation quality, discussions on biometrics in the specific area of ​​cryptocurrency remain rare and merit further examination.

With criminals diligently refining their tools and supporting their pernicious activities with cryptocurrency, there is a natural need for researchers to stand up and take action. At this point, we are tasked with timely training of professionals at the crossroads of data science, criminology and cryptocurrency. In the face of globally disruptive technology like blockchain, there is an urgent need to block intentions to apply it as a platform for malicious companies – although this is an incredible challenge.



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UK litigation roundup: here’s what you missed in London https://atosvictimsgroup.co.uk/uk-litigation-roundup-heres-what-you-missed-in-london/ https://atosvictimsgroup.co.uk/uk-litigation-roundup-heres-what-you-missed-in-london/#respond Fri, 28 May 2021 17:19:00 +0000 https://atosvictimsgroup.co.uk/uk-litigation-roundup-heres-what-you-missed-in-london/ Law360, London (May 28, 2021, 6:19 p.m. BST) – Last week in London, a diamond broker got into a fight with a former client, a luxury Qatari conglomerate sue its Lebanese insurer and JK Rowling’s literary agent sue Fieldfisher . LLP. Here Law360 examines these claims and other UK news Financial services Türkiye İş Bankası […]]]>


Law360, London (May 28, 2021, 6:19 p.m. BST) – Last week in London, a diamond broker got into a fight with a former client, a luxury Qatari conglomerate sue its Lebanese insurer and JK Rowling’s literary agent sue Fieldfisher . LLP.

Here Law360 examines these claims and other UK news

Financial services

Türkiye İş Bankası AS v. Wolt Group Ltd. and others

One of Turkey’s largest banks, Türkiye İş Bankası AS, filed a general business contracts and arrangements claim on May 27 against Wolt Group Ltd. and two people.

The lender is currently suing a Marshall Islands-based company to raise more than £ 88million ($ 124million) it …

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