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Fraud News

Takata fined $1 billion over exploding airbag scandal

Takata, the Japanese car parts maker, will pay $1 billion in penalties in the United States for concealing defects in its exploding airbags.

US acting as global policeman for financial crimes

Washington - Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world.

France blocks extradition of Kazakh oligarch to Russia

Paris - France's highest administrative authority on Friday blocked the extradition of Kazakh opposition figure Mukhtar Ablyazov to Russia, where he is accused of embezzling billions of dollars.

JPMorgan settles FCPA charges by paying $264 million

After a three-years probe for alleged corruption, fraud and violation of the Foreign Corrupt Practices Act (FCPA) charges, JPMorgan Chase & Co. agreed to pay a $264 million total settlement.

French 'tax evasion fighter' jailed for tax fraud

Paris - Former French budget minister Jerome Cahuzac, whose brief in government was to crack down on tax dodgers, was sentenced to three years in prison on Thursday for tax fraud and money laundering.

Verdict due for French ex-minister 'rooted in fraud'

Paris - Former French budget minister Jerome Cahuzac will on Thursday learn the verdict in his stormy tax fraud trial in which he was accused of hiding millions abroad while leading a crackdown on tax dodgers at home.

Andorra ends banking secrecy

Andorra La Vella - Andorran lawmakers have agreed to end banking secrecy in the Pyrenees mountains principality once considered a tax haven, approving automatic sharing of information on accounts held by non-residents.

Trump settles Trump University lawsuits for $25 mn

New York - US President-elect Donald Trump agreed to pay $25 million to settle lawsuits accusing his now-defunct Trump University of fraud, sparing him the embarrassment of further legal wrangling as he prepares to enter the White House.

Mexican official seeks tax fraud probe against Trump

Mexico - A Mexican official pressed the authorities Friday to investigate whether US presidential candidate Donald Trump committed tax fraud in a failed condominium project in Tijuana.

Berlin takes aim at shell company tax cheats

Berlin - Germany is looking to intensify its crackdown on tax evaders who are stashing their assets in offshore companies, according to a draft law seen by AFP on Thursday.

HSBC should stand trial in tax fraud case: French prosecutor

Paris - A French prosecutor has called for British banking giant HSBC to stand trial for enabling French clients to hide at least 1.67 billion euros ($1.84 billion) from the taxman, a source close to the probe said Thursday.

EU to claim 340,000 euros from French far right leader

Brussels - The EU Parliament will ask French far-right leader Marine Le Pen to reimburse it nearly 340,000 euros paid to two of her aides as they allegedly carried out party business, sources told AFP on Monday.

'Rigging' US election easier said than done, experts say

Washington - Republican candidate Donald Trump has made the insistent claim that the US presidential elections are being "rigged," but experts say massive voter fraud is highly unlikely in a system as decentralized as the United States.

Credit card launched with ever changing display

A credit card with fraud-busting display has been launched in France. The card has an ever-changing security code, designed to make it fraud resistant.

Ex-IMF chief Rato is the fallen star of Spain's conservatives

Madrid - Former Spanish finance minister Rodrigo Rato was hailed for kicking off a golden decade of growth in Spain's economy from the late 1990s and later led the International Monetary Fund.

Ex-IMF boss Rato on trial over bankers' luxury sprees

San Fernando De Henares - Former IMF chief Rodrigo Rato went on trial Monday accused of overseeing a "corrupt system" that helped him and other executives misuse funds when he was the boss of two of Spain's top banks.

French 'rogue trader' Kerviel's legal rollercoaster

Paris - A French appeal court on Friday ordered "rogue trader" Jerome Kerviel to pay one million euros ($1.2 million) to his former employer, Societe Generale, one of France's top three banks.

French 'rogue trader' Kerviel must pay 1.0 mn euros to bank

Versailles - A French appeals court on Friday ordered "rogue trader" Jerome Kerviel to pay a million euros to Societe Generale over the nearly five billion euros he squandered through his reckless risk-taking.

Graft trial ends for French ex-minister 'rooted in fraud'

Paris - A French court on Thursday heard closing arguments in the stormy tax fraud trial of ex-budget minister Jerome Cahuzac, accused of stashing millions abroad while leading a crackdown on tax dodgers at home.

New York to open inquiry into Trump foundation

Washington - New York state's top law enforcement official said he has opened an investigation into the Donald J Trump Foundation, citing worries the Republican presidential nominee's charity has been involved in "impropriety.

Taiwan charges three foreigners over $2.6 mn cyberheist

Taipei - Taiwan has charged three foreigners over a $2.6 million cyberheist that used malware to hack into a major local bank's ATM network, prosecutors said Tuesday, adding that they were seeking 12-year jail terms.

I did it for my family, says 'tax-dodging' French ex-minister

Paris - France's former budget minister Jerome Cahuzac told his tax evasion trial Monday that he had stashed millions abroad because he wanted to maintain his family's standard of living.

Electoral fraud in Africa getting trickier: experts

Dakar - As Gabon is rocked by violence following the contested re-election of President Ali Bongo, experts says electoral fraud in Africa is becoming harder, thanks to civil society vigilance and spread of mobile technology.

Vietnam jails Russian fraudsters for ATM theft

Hanoi - Three Russian fraudsters, including one who tried to escape prison using a spoon and a toothbrush to dig a tunnel, have been jailed in Vietnam for using fake ATM cards to steal $13,400.

Haiti council unveils anti-fraud reforms for vote redo

Port-au-prince - Haitian authorities announced anti-fraud reforms for a redo of last year's scandalous elections that left the impoverished Caribbean country in political chaos.

11 jailed in Spain stamp scam, one of country's 'biggest frauds'

Madrid - Spain's top criminal court said Wednesday it had sentenced 11 former executives of stamp firm Afinsa to up to 12 years in jail for their role in a vast scam that ruined thousands of savers.

China HIV leak violates patients' rights: WHO

Bejing - A leak of HIV carriers' identities in China was a violation of their "fundamental right", the World Health Organization said, after reports that hundreds of infected people were approached by telephone swindlers.

Taiwan arrests three foreigners in $2.5m ATM cyberheist

Taipei - Taiwan has arrested three foreign suspects over a $2.5 million cyberheist which used malware to hack into a major local bank's ATM network and steal bags of cash, police said Monday.

Thieves force Taiwan cash machines to churn out $2 mn

Taipei - Thieves suspected of installing a computer programme that forced cash machines in Taiwan to churn out more than $2 million were being hunted by police on Tuesday, officials said.

Food crime reaches $50 billion per year

London - There are many types of crime and most are widely reported. One area that doesn’t get much exposure is food crime. This ‘hidden’ area results losses to the food sector of up to $50 billion per year. We take a look at the issue.
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U.S. financial institutions are issuing credit cards with EMV computer chips  which are widespread i...
U.S. financial institutions are issuing credit cards with EMV computer chips, which are widespread in other parts of the world. They promise to be more secure than traditional magnetic stripe cards.
CreditCards.com
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - bottom part.
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - bottom part.
Knight pretended to be a quadriplegic and subject to periods of being comatose for two years.
Knight pretended to be a quadriplegic and subject to periods of being comatose for two years.
Screen grab
Don t be fooled. There is NO such compulsory update from Yahoo! or anyone else. Give InboxAce a miss...
Don't be fooled. There is NO such compulsory update from Yahoo! or anyone else. Give InboxAce a miss.
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - bottom part.
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - bottom part.
The mugshot of Martha Nicholas.
The mugshot of Martha Nicholas.
Hanover County Sheriff's Office
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - top part.
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - top part.
A rather primitive looking phishing attempt. Do not respond  but move to spam folder.
A rather primitive looking phishing attempt. Do not respond, but move to spam folder.
A screengrab from the website of Colin Fry.  The dead can speak  but apparently they don t spell so ...
A screengrab from the website of Colin Fry. The dead can speak, but apparently they don't spell so good.
Babylon is another scam search engine. Don t click the link  don t click anything  close the page an...
Babylon is another scam search engine. Don't click the link, don't click anything, close the page and get rid of it.
Another shopping trip with the wife.
Another shopping trip with the wife.
Screen grab
Knight being attended by wife  Helen. She wrote a letter to the local paper in South Wales saying he...
Knight being attended by wife, Helen. She wrote a letter to the local paper in South Wales saying her husband had a doctor's certificate attesting to his illness.
Screen grab
Knight was caught on CCTV shopping at various Tesco  stores across the country.
Knight was caught on CCTV shopping at various Tesco stores across the country.
Screen grab
 Fraud
'Fraud'
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A new report shows yet more corruption and fraud in private contractor abuse with relation to the oc...
A new report shows yet more corruption and fraud in private contractor abuse with relation to the occupations in Afghanistan and Iraq, costing US taxpayers "tens of billions" of dollars.
Photo courtesy US Army
Mayor of Montreal Michael Applebaum is under arrest.  Appelbaum is accused of corruption and fraud i...
Mayor of Montreal Michael Applebaum is under arrest. Appelbaum is accused of corruption and fraud in municipal affairs, amounting to 14 charges in all
Abdallahh
File photo: Skating in Holland  Unknown author  Oil on canvas 31.8 x 46.4 cm. Sir Hugh Lane Bequest ...
File photo: Skating in Holland, Unknown author, Oil on canvas 31.8 x 46.4 cm. Sir Hugh Lane Bequest, 1917; on loan to the Hugh Lane Municipal Gallery of Modern Art, Dublin, since 1979. Signed: Jongkind, but likely to be a forgery.
National Gallery, London
Joann Elizabeth Wingate  56
Joann Elizabeth Wingate, 56
Pennsylvania State Police
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - top part.
A screengrab of an e-mail from Robin Dyer of the Bermuda Police - top part.
A YouTube screengrab
A YouTube screengrab
YouTube screengrab