Keywords: Financial crime


South Korean bank manager fired after replacing stolen cash with fake banknotes

A branch manager at a South Korean bank has been dismissed after an internal investigation uncovered an unusual embezzlement scheme in which stolen cash was replaced with counterfeit-looking notes purchased online. The incident took place earlier this year at a branch of Saemaul Geumgo in the city of......

Austrian supreme court upholds fraud conviction of ex-billionaire René Benko in signa collapse case

The Supreme Court of Austria has upheld the fraud conviction of former billionaire René Benko, confirming a two-year prison sentence linked to insolvency-related misconduct in the collapse of his once vast property empire. The ruling marks a significant legal setback for the businessman, whose......

Bail set at $224,000 for former Cedrus Bank director accused in financial misconduct case

A Lebanese judicial authority has set bail at $224,000 for a former director of Cedrus Bank, who has been detained for several months in connection with an ongoing financial investigation involving alleged irregular transactions. The accused, a former branch director, has been in custody for around......

Greek police arrest 20 in Crete over suspected EU farm subsidies fraud

Greek police have arrested 20 people on the island of Crete as part of an investigation into an alleged fraud scheme involving European Union agricultural subsidies. Authorities say they dismantled a criminal network suspected of illegally obtaining EU farming funds through false declarations of agricultural......

Polish crypto platform Zondacrypto faces money laundering allegations amid major scandal

A major cryptocurrency scandal is unfolding in Poland as the digital asset platform Zondacrypto faces serious allegations of money laundering and fraud, with around one million users reportedly unable to access their funds. The platform, which allows users to exchange traditional money into cryptocurrencies......

UK's FCA defends Palantir contract amid lawmakers' concerns

The United Kingdom’s Financial Conduct Authority (FCA) has defended its decision to award a short-term contract to U.S. data analytics firm Palantir Technologies, amid questions from lawmakers over potential data access and monopoly risks. Palantir was contracted for 12 weeks to analyze internal......

Former Kiabi treasurer released amid investigation into 100 million euro fraud

Aurélie B., the former treasurer of French retail chain Kiabi, has been released from prison and placed under electronic monitoring after serving a year and a half behind bars. She remains under investigation for allegedly diverting 100 million euros through a complex financial fraud. Authorities......

Iran executes man convicted of massive fraud

Iranian authorities announced on Sunday the execution of Mohammad Reza Ghaffari, a businessman convicted of a large-scale fraud affecting tens of thousands of people. Ghaffari, owner of the company Rezaayat Khodro Taravat Novin, was sentenced after the Iranian Supreme Court confirmed in August his conviction......

Pascal Prache to succeed Jean-François Bohnert as Head of France’s national financial prosecutor’s office

Pascal Prache, the current Director of Judicial Services, is set to become the new head of France’s National Financial Prosecutor’s Office (PNF), according to the Ministry of Justice. He will succeed Jean-François Bohnert, who has been appointed Attorney General at the Court......