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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 10 hrs ago

DOJ indicts Los Angeles woman over $18M PPP and EIDL COVID relief fraud

The Justice Department's new National Fraud Enforcement Division has indicted a Los Angeles woman over an alleged $18 million scheme to defraud the PPP and EIDL programs created under the CARES Act. The case illustrates how the Fraud Division, stood up in April 2026, is pursuing pandemic relief fraud years after the programs closed, and what charges and penalties such defendants now face.

Marisela Nuno, 53, is charged with three counts of wire fraud and one count of money laundering over an alleged $18 million CARES Act relief fraud.
The applications collectively sought over $15.7 million in PPP funds and over $2.6 million in EIDL funds, according to court documents.
Applications allegedly misstated employee numbers, average monthly payroll, gross revenues and eligibility, supported by false tax documentation.
Each wire fraud count carries a maximum 20 years in prison and the money laundering count carries up to 10 years.
The FBI Los Angeles Field Office, IRS CI and SBA OIG investigated, with the newly created National Fraud Enforcement Division prosecuting.

Source document

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 15 claims 04 Nov 2026

ABA Fraudcast episode examines romance scams with a Tinder Swindler victim

The American Bankers Association's Fraudcast turns to romance scams in its latest episode, featuring a victim from the Netflix documentary The Tinder Swindler alongside a behavioral-science practitioner who builds anti-fraud training. For fraud and financial-crime leads, it is a short listen on consumer-facing scam prevention and the human factors that let these frauds succeed.

The episode features Ayleen Charlotte, a victim of the romance scam detailed in the Netflix documentary The Tinder Swindler, who founded a scam-awareness and fraud-education program.
Pete Staffell, formerly of Santander and a developer of its Break the Spell anti-fraud program, discusses using behavioral science to build scam-prevention training.
The ABA Fraudcast is hosted by Paul Benda, EVP of risk, fraud and cybersecurity at the American Bankers Association.
The ABA directs banks to fraud-prevention resources at aba.com/fraud.

Source document

2:59

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 20 claims 03 Nov 2026

US extradites man from Germany over $4m fake-psychic mail fraud scheme

The Justice Department has brought a long-running mass-mailing fraud defendant back to the United States from Germany to stand trial in Miami. The case turns on more than $4 million collected from thousands of mostly elderly and vulnerable US consumers through letters posing as personalised psychic predictions, and on the bank accounts used to move victim funds to Europe.

Mael Chemla, 61, was extradited from Germany and made his initial appearance in Miami federal court to face mailing fraud charges.
The scheme sent letters posing as personalised psychic communications telling victims to pay in advance to receive a promised financial windfall.
Chemla and a co-conspirator collected more than $4 million from thousands of US victims, many elderly and vulnerable, between September 2016 and November 2020.
He is charged with conspiracy, mail fraud and wire fraud, carrying a maximum of 20 years in prison on all counts.
The US Postal Inspection Service investigated, with the DOJ Office of International Affairs supporting the German extradition proceedings.

Source document

2:59

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 15 claims 03 Nov 2026

ILC Dover to pay $13m over cybersecurity failures on Army, MDA and NASA contracts

The Justice Department has resolved a False Claims Act matter against ILC Dover and ILC Astrospace for alleged cybersecurity shortfalls on defense and aerospace contracts. The case was brought by the firm's former cybersecurity director under qui tam provisions, and it illustrates how the government is pricing non-compliance with NIST SP 800-171 controls. This segment covers who it binds, the specific failings alleged, and the whistleblower dimension.

ILC Dover and ILC Astrospace will pay $13 million to resolve allegations spanning January 2018 to October 2024 on Army, Missile Defense Agency and NASA contracts.
From February 2023 to October 2024, ILC allegedly stored controlled unclassified information with a third party that did not meet the FedRAMP Moderate baseline or DoD cyber incident reporting requirements.
ILC allegedly failed to maintain system security plans, fully implement NIST SP 800-171 and 800-53 controls, and submit current assessments under the NIST SP 800-171 DoD Assessment Methodology.
The whistleblower, former ILC Director of Cybersecurity Philip Root, will receive $2.35 million from the settlement in United States ex rel. Root v. ILC Dover LP, No. 25-cv-70 (D. Del.).
The settlement resolves allegations only, with no determination of liability.

Source document

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 19 claims 03 Nov 2026

California federal court dismisses $570,000 crypto scam suit against banks and Stanford FCU

A Northern District of California court threw out a suit by an anonymous couple who lost about $570,000 to a cryptocurrency scam and tried to hold eight financial institutions and nine other defendants liable. The ruling in Doe v. Stanford Federal Credit Union turns on wire-transfer preemption and the high bar for aiding-and-abetting claims against banks, and matters to any institution sued over authorized payments it processed.

The court dismissed claims against SFCU, CFSB, CFG, Currency Cloud and Mercury Advisory without leave to amend and ordered the case closed.
Division 11 of the California Commercial Code preempts state-law claims based on how institutions processed or accepted the wire transfers.
The plaintiffs authorized seven wire transfers totaling about $570,000 between July 30 and Aug. 2, 2024, and even requested faster processing, defeating their unauthorized-transfer claim.
Aiding-and-abetting fraud claims against the institutions that received or processed the funds failed because plaintiffs alleged no specific facts showing those institutions knew of or helped carry out the scam.

Source document

3:22

Washington State DFI Source document ↗

United States Washington State DFI Financial Crime ✓ 22 claims 03 Nov 2026

Washington DFI flags crypto platform XMPro after $800,000 pig-butchering complaint

Washington's Department of Financial Institutions has published a scam-tracker alert on XMPro, a cryptocurrency trading site reached through shifting domains. The alert reconstructs a single Washington resident's complaint in unusual operational detail, including how the operators laundered deposits across wallets and chains and coached the victim to defeat exchange and bank fraud screening. For financial-crime teams, it is a clean case study in current pig-butchering tradecraft.

DFI reports a Washington resident was solicited on LinkedIn by "Vanessa," moved to WhatsApp, and directed to deposit crypto bought on Coinbase into XMPro.
The scheme induced a $750,000 withdrawal from the investor's IRA, with instructions to send bitcoin incrementally to avoid triggering Coinbase fraud protection.
When the investor sought to withdraw, XMPro demanded a 10% fee and refund of profits totaling over $270,000, and told the investor to label a wire to "Echo Synergy FZE" as "goods" and avoid words like investment or tax.
DFI found XMPro's displayed transaction history inconsistent with public blockchain records and traced and froze $150,000 of the investor's funds.
Reported loss is $800,000; DFI classifies the matter as a cryptocurrency, advance-fee and pig-butchering scam.

Source document

0:15

Regulus Weekend Edition Source document ↗

United States Regulus Weekend Edition Financial Crime ✓ 20 claims 01 Nov 2026

The week fraudsters kept convicting themselves, and the AI that may stop it

This week's heaviest fraud results shared a quietly comic thread: the people undone by their own documents. A doctor photographed on a beach on a day she billed in another state, a signature forged for a man who was in prison, a juror paid off. We draw out what the enforcement record says about criminals catching themselves, and the single AI charge that hints the era of the helpful self-made mistake may be ending.

Violetta Mailyan, 45, was sentenced on 29 October 2026 to 15 years for a $45m Medicare Botox scheme, convicted on nine wire fraud counts and three obstruction counts, with $32,904,049.41 restitution ordered.
Her case turned partly on a photograph from Cabo on a day she billed $34,560 in Glendale, and on a beneficiary consent form she forged for a man who was incarcerated at the time.
In Minnesota, Said Farah received 78 months and a $40,000 fine for bribing a juror, part of 13 benefits-fraud defendants and nearly $83m in intended losses reported for the period.
A single Minnesota count alleges patient notes were generated with AI, the first sign that fabricated supporting records can be produced cheaply and at volume.
FINRA logged settled actions against First Citizens Investor Services (CRD 44430) and broker Landon Beecham (CRD 8134707), with the substance of each held in an attached document the public listing does not reproduce.

Source document

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Regulus Weekend Edition Source document ↗

United States Regulus Weekend Edition Financial Crime ✓ 18 claims 01 Nov 2026

DOJ's fraud wins ran on paper trails as a Minnesota charge alleges AI faked records

The DOJ Fraud Division posted a month of heavy results won largely on cover-up counts rather than the underlying fraud. Buried in the Minnesota caseload is a single charge alleging patient notes were generated with AI. We take that count seriously, because it attacks the one mechanism nearly every other result relied on, and we set it against two US rule rollbacks landing the same week.

Mailyan was sentenced to 15 years on nine wire fraud counts and three obstruction counts, with $32,904,049.41 in restitution and over $16,029,742 forfeited.
Kablazada pleaded guilty to a $227m COVID test-kit scheme on which Medicare paid out approximately $136m, built on beneficiary data bought from a Pakistan-based telemarketer.
One of the 13 Minnesota benefits counts alleges a defendant used AI to fabricate patient notes to justify claims.
The FDIC proposed rescinding its 2016 part 370 recordkeeping rule and the SEC proposed rescinding Rule 14a-8, which has governed shareholder proposals since 1942.
Two fixed dates sit ahead: HKEX failover registration by 13 November and the Mizuho Rule 18a-10 comment close on 2 December.

Source document

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Regulus Weekend Edition Source document ↗

United States Regulus Weekend Edition Financial Crime ✓ 23 claims 01 Nov 2026

DOJ fraud sweep won on cover-up counts as Minnesota case alleges AI-faked records

The week's financial crime news sat almost entirely with the DOJ Fraud Division: a cluster of Medicare, COVID test-kit, crypto and benefits results where the heaviest counts were obstruction and laundering, not the underlying fraud. One Minnesota charge alleging AI-generated patient notes is the signal worth your attention. FinCEN added two AML alerts; FINRA logged two consent actions; and the Bank Policy Institute mapped a push to shift scam liability upstream.

Violetta Mailyan was sentenced to 15 years for a $45m Medicare Botox scheme, convicted on nine wire fraud counts and three obstruction counts, with $32,904,049.41 restitution and over $16,029,742 forfeiture ordered.
Syed Murtuza Kablazada pleaded guilty to $227m in COVID test-kit fraud built on beneficiary data bought from a Pakistan-based telemarketer; Medicare paid about $136m and he agreed to forfeit over $46m.
Alexander Gurevich was extradited to the Northern District of California over the $2.89m Nomad Bridge exploit, with his heaviest exposure, up to 20 years, on the money laundering count.
DOJ charged, convicted or sentenced 13 Minnesota benefits-fraud defendants over nearly $83m in intended losses, including a count alleging patient notes were generated with AI.
FinCEN issued an alert on cross-border MSB payment risk and a notice on charity exploitation, directing institutions to assess nonprofits individually rather than exit the sector.

Source document

0:15

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 28 claims 30 Oct 2026

California doctor gets 15 years for $45M Medicare Botox fraud scheme

A DOJ sentencing that ends a long-running Medicare fraud prosecution, notable less for the headline number than for the obstruction count: the defendant falsified records and forged beneficiary signatures once she knew investigators were close. For compliance leads in healthcare and benefit-program sectors, it maps how the new Fraud Division is building and pricing these cases.

Mailyan billed Medicare for thousands of Botox injections that were never provided, were purely cosmetic, or lacked the required chronic-migraine referral.
Over $19 million was billed for injections purportedly provided on days her Glendale clinic was closed, and some while she was on vacation outside California.
When she realised investigators were closing in, she falsified medical records and forged beneficiary signatures, including for a man then in federal prison.
The court ordered $32,904,049.41 in restitution to Medicare and immediate forfeiture of over $16,029,742 in seized property.
The jury found fraud proceeds funded two Tesla vehicles including a Cybertruck, five California properties and luxury goods.

Source document

0:15

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 30 Oct 2026

Illinois lab operator pleads guilty to $227 million Medicare fraud scheme

A DOJ plea announcement details a scheme in which an Illinois resident acquired three Chicago laboratories and used purchased beneficiary data to submit $227 million in fraudulent Medicare claims for unrequested COVID-19 test kits. The case illustrates how compromised beneficiary PII, often sourced overseas, feeds directly into billing fraud against federal health programs.

Kablazada and co-schemers acquired three Chicago-area laboratories: Chicago Care, V Care, and Al-Ameer, starting January 2023.
He paid approximately $11 million to a purported Pakistan-based telemarketing company for personally identifiable information on hundreds of thousands of Medicare beneficiaries.
The labs submitted $227 million in false claims for COVID-19 test kits never requested or shipped, and Medicare paid approximately $136 million of that amount.
Kablazada agreed to forfeit over $46 million in proceeds seized from ten bank accounts as part of his plea agreement.
He pleaded guilty to two counts of health care fraud and faces a maximum penalty of 20 years in prison.

Source document

3:10

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 14 claims 30 Oct 2026

DOJ reports 13 Minnesota benefits fraud cases, nearly $83m in intended losses

The Justice Department's National Fraud Enforcement Division and the U.S. Attorney for Minnesota announced a one-month cluster of charges, convictions, sentences and a forfeiture action against benefit-program fraud. For compliance and investigations leads, the detail worth reading is the mechanics: falsified meal counts, autism-therapy billing for absent providers, kickbacks to recipients' families, AI-generated patient notes and an attempted juror bribe.

DOJ charged, convicted or sentenced 13 defendants between Sept. 30 and Oct. 30, 2026, with nearly $83 million in intended losses and about $29.1 million in newly charged cases.
Salim Ahmed Said was sentenced to 360 months for facilitating over $44 million in Feeding Our Future child-nutrition fraud, part of a $250 million scheme.
Said Farah received 78 months and a $40,000 fine for helping gather $200,000 in cash to bribe a juror during a prior fraud trial.
Multiple indictments target the Minnesota Medicaid EIDBI autism-therapy program, including a $19.1 million scheme involving kickbacks to recipients' parents and a case using AI to fabricate patient notes.
DOJ says it issued over 1,000 subpoenas and executed over 40 premises warrants in Minnesota this year.

Source document

3:10

Bank Policy Institute Source document ↗

United States Bank Policy Institute Financial Crime ✓ 24 claims 30 Oct 2026

BPI backs US push to hold telecom and social media firms liable for scams

The Bank Policy Institute has published a one-pager tracking how US policymakers spent 2026 shifting scam liability upstream, onto the telecom and social media networks that carry impersonation fraud. For compliance and fraud leads at banks, it signals where accountability may move and which proposals the industry expects to be enacted next year.

BPI cites an FTC estimate that fraud may have cost US consumers as much as $261.5 billion in 2025, with $3.5 billion attributed to impersonation scams last year.
The FTC said in September it would consider updating its government and business impersonation rule to hold social media and tech platforms accountable.
The FCC has proposed strengthened Know Your Customer and Know Your Upstream Provider requirements, STIR/SHAKEN enhancements and a Robocall Mitigation Scorecard, and brought an enforcement action against a call provider.
Two bills, the bipartisan SCAM Act and the Stop SIM Box Scams Act introduced by Rep. Jefferson Shreve, are advancing, and BPI expects many 2026 proposals to become law in 2027.

Source document

0:15

American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 16 claims 29 Oct 2026

SEC charges two entities over $130m crypto 'wealth-sharing' fraud built on false filings

The SEC has brought a civil fraud action against two Colorado-incorporated, foreign-operated entities it says used fabricated regulatory filings to lend credibility to a crypto trading scheme. The case is notable less for its size than for its method: the defendants allegedly weaponised the SEC's own public filing system, turning Form ADV and Form D submissions into marketing props that investors read as proof of approval.

The SEC alleges BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd raised more than $130 million from tens of thousands of retail investors.
The conduct ran from at least October 2025 through June 2026 and reached investors in more than 40 US states and multiple US territories.
The defendants are alleged to have filed false Form ADV and Form D documents that were publicly viewable and shared with investors as proof of SEC licensing or approval.
BG Wealth is alleged to have falsely claimed to be the world's largest hedge fund partnered with a licensed crypto platform, promising risk-free returns from 'SI-generated' trading signals.
The SEC's Office of Investor Education and Assistance has issued alerts on scammers misusing exempt reporting adviser filings to fake legitimacy.

Source document

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Financial Crime ✓ 25 claims 29 Oct 2026

FTC reports over $80m in redress and 19 sites removed under Impersonation Rule

The FTC has published a progress report on its Impersonation Rule, in force since 2024. It names eight recent enforcement actions, including a credit-repair scheme accused of taking $200 million, totals the redress won so far, and flags a September consultation on whether platforms' ad-optimisation tools help scammers impersonate legitimate firms.

The FTC says it has completed 14 enforcement actions producing more than $80 million in consumer redress since the Impersonation Rule took effect in 2024.
Eight actions alleging rule violations have been brought since early April 2025, naming MediaAlpha, Innovative Partners, Consumer Impact Recovery, Mercury Marketing, Accelerated Debt Settlement, American Tax Service, Nerd Solutions and Credit Glory.
A federal court temporarily halted Credit Glory and froze its assets in August 2026 over an alleged scheme the FTC says took $200 million from US consumers, including servicemembers.
Registrars took down 19 websites impersonating the FTC after the agency sent letters identifying apparent rule violations.
Rule violators may face refunds and civil penalties of up to $53,088 per violation, and a September comment period asks whether platforms' ad-optimisation tools should be addressed.

Source document

2:54

DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 18 claims 29 Oct 2026

DOJ charges five in 'ghost student' FAFSA fraud, seizes $750,000 crypto in Kenya

The Justice Department's new National Fraud Enforcement Division has unveiled the first charges from Operation Ghostbusters, a nationwide investigation into fraudulent federal student aid claimed through stolen identities and routed to a Kenyan network. For financial-crime leads, the file is a live case study in money-mule typologies, cross-border crypto forfeiture and the compliance exposure of banks and money service businesses moving disbursement refunds.

Five defendants are charged across the District of New Jersey, Eastern District of Virginia and District of Nebraska, with intended losses of $1.5 million, $1.4 million and $20,000 respectively.
Investigators seized more than $750,000 from a cryptocurrency account belonging to a Kenyan national, which the Fraud Division calls the first international seizure of its kind in its history.
The FBI says it has identified more than $32 million in losses in similar ghost-student schemes, with the Department putting the overall scale of the fraud well over $200 million.
In September or October 2026 investigators flagged 830,840 potentially fraudulent FSAIDs relating to nearly $130 million and recommended the Department of Education disable them.
There are now more than 40 open cases across 26 FBI field offices and more than 20 US Attorneys' Offices.

Source document

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 18 claims 28 Oct 2026

Virginia mental health executive charged in $49M Medicaid crisis-services fraud

The Justice Department's new Fraud Division has indicted the co-owner of a Richmond-area mental health provider over a $49 million scheme to bill Virginia Medicaid for crisis services that were not delivered as claimed. The case illustrates how the department's reorganised health care fraud apparatus is pursuing behavioral health providers, and the evidentiary patterns, falsified signatures and audit obstruction, that prosecutors are building around.

Mikia Antoneice Noble, co-owner and COO of ACE, was indicted October 20 and arrested October 28 over a $49 million Virginia Medicaid fraud scheme.
Prosecutors allege ACE billed for crisis services as if delivered by qualified teams when only a single low-level professional attended.
The indictment alleges over $2 million paid for hotel rentals to induce beneficiaries, plus falsified records and lies to Managed Care Organization audits.
Noble faces conspiracy to commit health care fraud and three counts of health care fraud, each carrying a maximum of 10 years in prison.

Source document

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 20 claims 28 Oct 2026

DOJ reports 712 defendants charged in elder fraud cases targeting older Americans

The Justice Department's Civil Division has delivered its eighth annual report to Congress on elder fraud and abuse, covering the year to 30 June 2026. For compliance and financial crime leads at banks and payment firms, the figures map where elder financial exploitation is concentrating, how much of it crosses borders, and the scale of the victim population the government is now tracking.

The report covers the period from July 1, 2025 through June 30, 2026 and is the Department's eighth annual report to Congress on elder fraud and abuse.
Cases named 712 defendants charged with stealing or alleged to have stolen $4,841,305,931 from 711,353 victims.
Approximately 96% of the nearly 350 enforcement actions were criminal and 45% involved international schemes.
Victims of Crime Act funded organizations allocated $52 million to elder abuse victim services during the period.
The Department ran nearly 1,200 awareness and training events reaching over 62 million Americans and supported the Never Ever Campaign reaching over 95 million individuals.

Source document

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 19 claims 27 Oct 2026

Gainesville DME owner convicted in $8.6M Medicare orthotic brace fraud scheme

A federal jury in the Middle District of Florida has convicted the owner of a durable medical equipment company over an $8.6 million Medicare fraud built on forged and purchased prescriptions for orthotic braces. The case shows how telemarketing lead-buying, kickbacks and billing for unwanted devices combine into a chargeable scheme, and where DOJ's reconstituted Fraud Division is now focusing.

A federal jury in the Middle District of Florida convicted Sophie Dufort, 57, in a scheme causing over $8.6 million in fraudulent Medicare claims for orthotic braces.
Dufort was convicted of conspiracy to commit health care fraud and wire fraud, two counts of health care fraud, one count of conspiracy to defraud the United States and pay illegal kickbacks, and one count of offering and paying illegal kickbacks.
The prescriptions were bought from marketing firms that used high-pressure telemarketing or stole physician credentials to create forged prescriptions without any patient evaluation.
Dufort faces a maximum of 20 years for the fraud conspiracy, 10 years for each fraud and kickback count, and 5 years for the conspiracy to defraud the United States, with sentencing set for January 2027.
The case was investigated by HHS-OIG and the FBI and prosecuted under the Justice Department's National Fraud Enforcement Division and its Health Care Fraud Strike Force Program.

Source document

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Singapore Police Force Source document ↗

Singapore Police Force Financial Crime ✓ 14 claims 27 Oct 2026

Singapore Police arrest three in transnational card-fraud syndicate case

The Singapore Police Force arrested three men it believes are members of a transnational scam syndicate that used stolen card details to make high-value retail purchases. The case shows how payment-fraud rings exploit mobile wallets and retail points of sale, and how merchant vigilance and camera networks closed the loop before two members could leave the country.

The three men used stolen debit and credit card details via a mobile wallet to buy graphics cards and other IT components across Singapore.
A 36-year-old was detained on 26 October after store staff on Rochor Canal Road grew suspicious when he returned about an hour later to buy over $4,000 of IT components.
Two accomplices aged 25 and 27 were arrested on 27 October in the transit area of Changi Airport before they could leave Singapore.
All three will be charged on 28 October 2026 under Section 420 read with Section 109 of the Penal Code 1871, carrying up to ten years' imprisonment and a fine.

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ASEANAPOL Source document ↗

ASEANAPOL Financial Crime ✓ 15 claims 27 Oct 2026

ASEANAPOL presents 6P anti-scam framework at inaugural IICA forum in Incheon

At the 1st Annual Forum of the International Investigative Cooperation Alliance in Incheon, the ASEANAPOL Secretariat moderated a session on Anti-Scam Centres and presented its regional response to transnational scam crime. The segment covers what ASEANAPOL put on the table, who else was in the room, and what the shared operational message means for institutions exposed to cross-border fraud flows.

ASEANAPOL presented its 6P Framework covering Policy, People, Platform, Procedure, Partners and Progress at the IICA Forum on 22 October 2026 in Incheon.
Three regional initiatives were highlighted: ASCOT, Study Visits to Anti-Scam Centres in Thailand, Malaysia and Singapore, and the eADSAI AI-enabled database system under development.
The Singapore Police Force emphasised the role of Anti-Scam Centres in rapidly freezing and recovering victims' funds.
UNODC, KNPA and INTERPOL each stressed international cooperation, multi-agency coordination and cross-border information sharing to counter transnational scam networks.

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ASEANAPOL Source document ↗

Global ASEANAPOL Financial Crime ✓ 11 claims 27 Oct 2026

ASEANAPOL welcomes new international resolution against scam crime

A short readout from the ASEANAPOL Secretariat on remarks delivered at the closing of the first Annual Forum of the International Investigative Cooperation Alliance in Incheon, where a resolution on cross-border scam crime cooperation was signed. Useful for tracking how regional policing bodies are formalising anti-scam coordination.

The IICA Resolution was adopted and signed at the closing ceremony of the 1st Annual Forum in Incheon on 23 October 2026.
The resolution sets out a framework for continued international cooperation against transnational scam crime.
ASEANAPOL referenced three named cooperation channels with Korea: the Breaking Chains initiatives, Study Visits to Anti-Scam Centres in Thailand, Malaysia and Singapore, and the KARE Project.
The Executive Director emphasised turning commitments into results through timely information sharing, coordinated operations and stronger partnerships.

Source document

3:19

CSSF Luxembourg Source document ↗

CSSF Luxembourg Financial Crime ✓ 11 claims 27 Oct 2026

CSSF warns of fraud scheme impersonating LaCambre Asset Management

A short consumer-protection notice from Luxembourg's financial regulator flags identity theft targeting LaCambre Asset Management Luxembourg S.à r.l. Compliance and client-facing teams should note the impersonation details to screen inbound contacts and advise clients who may encounter the fraudulent site.

The CSSF warning was published on 27 October 2026 concerning fraudulent use of the LaCambre Asset Management Luxembourg name.
The fraudulent operation uses the website www.lacambreassetmgt.com and email info@lacambreassetmgt.com.
The impersonators give an alleged registered office at 4 Rue du Kiem, L-1857, Luxembourg.
The CSSF confirms the genuine company's official address is 136, Route d'Arlon, L-1150 Luxembourg and that it has no connection to the fraudulent activity.
No phone number is associated with the fraudulent scheme according to the notice.

Source document

3:31

FCDO — sanctions announcements Source document ↗

United Kingdom FCDO — sanctions announcements Financial Crime ✓ 27 claims 27 Oct 2026

Ofqual fines Innovate Awarding £185,000 over qualification fraud failings

Ofqual has penalised awarding organisation Innovate Awarding over its handling of a single centre delivering a Level 3 business administration diploma. The case turns on how long weak controls and a slow investigation left doubtful certificates in place, and sets out what a settlement with the exam regulator now costs. It matters to anyone responsible for fraud oversight across a network of delivery partners.

Ofqual fined Innovate Awarding £185,000 and ordered a £15,000 contribution to investigation and enforcement costs.
Of 858 learners awarded the Level 3 diploma between January 2021 and December 2024, 851 were registered through the centre in question, and 847 of those certificates have been revoked.
Innovate flagged concerns in January 2024 after 130 learners were registered and certificated within 24 hours, but only widened its investigation after Ofqual engaged.
Certificate withdrawals were completed in August 2026, more than two years after concerns first emerged.
Innovate admitted breaching rules A5.1 (via A5.2), A6.1, A6.2, A8.1, A8.2, A8.3, B4, C1, C2, G8.1(b), H2 and H5.3(b), and agreed to 12 months of monitoring.

Source document

0:15

Washington State DFI Source document ↗

United States Washington State DFI Financial Crime ✓ 22 claims 27 Oct 2026

Washington DFI flags impersonation scam using Rockland Securities and Bank of Singapore names

Washington's Department of Financial Institutions has published an Investment Scam Tracker alert describing a cryptocurrency-linked fraud that impersonated a licensed broker-dealer and a private bank. The alert details the recruitment channel, payment rails and advance-fee tactic used, and sets out how residents can verify licensing and report losses. It is a public-education notice, not an enforcement action.

A firm calling itself Rockland Securities allegedly impersonated the legitimate Rockland Securities, LLC, with contact made via a Facebook work-from-home advert and WhatsApp.
The investor reported losing approximately $23,505 sent via Cash App and Western Union into a platform called Skysphere promising high returns.
An entity impersonating the Bank of Singapore demanded a $3,038 tax fee before withdrawal, a classic advance-fee tactic; the investor did not pay and could not recover funds.
DFI states the allegations and reported losses are unverified and that it cannot assist in recovering lost cryptocurrency funds.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 27 Oct 2026

Florida CPA sentenced to 18 months for evading more than $2.2m in taxes

A Florida certified public accountant has been sentenced for tax evasion after concealing income and property from the IRS over several years. The case, prosecuted under the Justice Department's newly created Fraud Division, illustrates how federal prosecutors treat asset concealment by a credentialed finance professional and the restitution exposure that follows a guilty plea.

St. Clair was sentenced to 18 months in prison for evading payment of more than $2.2 million in income taxes for tax years 2011 through 2017.
After the IRS signalled in 2020 that it would levy his assets, he sold real property and transferred the proceeds into an account in a third party's name.
He concealed his control of funds by holding money in others' names and placing real estate in businesses not held in his name, layering entities.
He pleaded guilty to one count of tax evasion and was ordered to pay $2,343,615.01 in restitution.
IRS Criminal Investigation handled the case, prosecuted by the DOJ National Fraud Enforcement Division and the Middle District of Florida.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 27 Oct 2026

DOJ indicts construction firm owner and three staff over $13m tax fraud scheme

The Justice Department's National Fraud Enforcement Division unsealed an indictment against a New York construction subcontracting owner and three employees. The charges run from off-books cash payroll and falsified corporate returns to foreign account reporting failures and a scheme to obtain loans, mortgages and surety bonds with false financials. For compliance teams, it maps how payroll tax evasion feeds into wider financial fraud exposure.

The indictment alleges at least approximately $5 million in wages were paid from April 2017 to May 2024 with no federal employment tax withheld.
Nelson allegedly underreported his business gross receipts by approximately $13 million and failed to file required FBARs.
From July 2019 to March 2025 Nelson, Devocion and Vasquez allegedly used false financial documents to obtain loans, mortgages, lines of credit, credit cards and surety bonding contracts.
Charges carry maximum penalties of 20 years for wire fraud conspiracy and obstruction, and five years for conspiracy to defraud the United States, employment tax, evasion and FBAR counts.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 12 claims 26 Oct 2026

DOJ charges 48 non-citizens in five states with illegal voting

The Justice Department has announced a consolidated set of charges against 48 non-citizens accused of voting in U.S. elections or lying about citizenship status to register or naturalize. The release groups cases from seven federal districts with varying charge severity, from single-count misdemeanors to multi-count felony indictments.

The Justice Department charged 48 aliens across nine federal judicial districts in Pennsylvania, California, Florida, New York and Nevada.
Thirteen defendants in the Central District of California face felony charges including false statements in naturalization applications.
Six defendants in the Eastern District of California face misdemeanor voting-by-alien charges carrying a statutory maximum of one year in federal prison.
Several defendants in the Eastern District of New York admitted in voluntary interviews with federal agents that they knew they were not U.S. citizens when they voted.
The release states that a complaint, indictment or information merely contains accusations and all defendants are presumed innocent until proven guilty.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 23 claims 26 Oct 2026

ABA survey finds Americans trust banks most to fight fraud, back action on telecoms

The American Bankers Association released a Morning Consult survey at its 2026 Annual Convention showing consumers trust banks over government, fintechs and crypto firms to protect them from fraud. The headline numbers serve a policy argument: large majorities back legislation and regulatory action aimed at social media platforms and telecom carriers. Useful for anyone tracking where scam liability pressure is heading.

By a five-to-one margin over the next sector, 44% of U.S. adults chose banks as most trusted to protect against fraud, ahead of government at 8% and cryptocurrency companies at 1%.
79% support federal legislation requiring social media companies to identify and remove fake accounts and fraudulent ads, which the ABA links to the bipartisan SCAM Act in Congress.
82% support regulatory action requiring telecoms to authenticate caller identity and prevent spoofed caller IDs, and 76% back more FCC funding for enforcement against carriers that allow fraudulent calls.
83% of bank customers said their bank takes proactive steps against fraud, and of the 52% who received a fraud alert, 95% found it valuable.
85% of Americans with a bank account say they are satisfied with their primary bank and 73% call banks a source of strength for the U.S. economy.

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CSSF Luxembourg Source document ↗

CSSF Luxembourg Financial Crime ✓ 15 claims 26 Oct 2026

CSSF warns of fraud using the name of Eurobank Private Bank Luxembourg

The CSSF has published a warning that unknown persons are carrying out fraudulent activities under the name of Eurobank Private Bank Luxembourg S.A. The notice lists the websites, email addresses and phone numbers used, and states the company itself is not connected to the activity. It covers what the warning says and how compliance and fraud teams should treat it.

The CSSF says unknown persons are impersonating Eurobank Private Bank Luxembourg S.A. and that the company is not related to the activity.
The warning lists nine websites, nine email addresses and six phone numbers used in the fraudulent scheme.
No alleged registered office is given for the fraudulent operation.
The warning was published on 5 October 2026 and updated on 9, 14, 20 and 22 October 2026.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 13 claims 26 Oct 2026

Former Eminem studio employee pleads guilty to criminal copyright infringement

A Justice Department release details the guilty plea of a former employee of musician Marshall Mathers who copied and sold unreleased studio recordings. The case illustrates how insider access to proprietary digital assets, not just financial data, falls within federal computer crime and intellectual property enforcement.

Joseph Strange, 48, of Holly, Michigan, pleaded guilty to criminal infringement of copyright in the Eastern District of Michigan.
Court documents say Strange sold and transmitted 10 or more unauthorized music files between July and August 2024 for approximately $50,000.
Streaming provider data showed the infringing files had been accessed more than eight million times as of November 2025.
The government estimates the infringement amount of the stolen files at at least $750,000.
Strange is scheduled to be sentenced on Jan. 27, 2027, and faces a maximum penalty of five years in prison.

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NCSC UK Source document ↗

United Kingdom NCSC UK Financial Crime ✓ 12 claims 26 Oct 2026

NCSC issues alert after ASOS customer data accessed in cyber incident

The NCSC has published an alert on a cyber incident affecting ASOS, after customers received an unauthorised push notification. The retailer says personal data was accessed but believes payment and password data were not. This briefing covers what ASOS has disclosed, who the NCSC says is affected, and the recommended steps for individuals.

ASOS customers received an unauthorised push notification from the company on Tuesday 6 October.
ASOS has said names and contact details of customers have been accessed in the incident.
ASOS has said it does not believe payment card information or account passwords were affected.
The NCSC advises all ASOS customers to assume they are affected, even if they did not receive the notification.
The NCSC lists six recommended actions: confirm you're affected, watch for scams, update vulnerable passwords, review account activity, recover compromised accounts, and check for wider exposure.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 26 Oct 2026

Former US official pleads guilty to $194 million fraud using fake spy program

A federal employee with top-level security clearance has admitted to one of the larger insider fraud cases against the US government in recent memory, using a fictitious classified program to extract funds later converted into gold and luxury assets. This briefing covers the plea, the forfeiture terms and what remains unresolved as sentencing approaches.

Rush fraudulently obtained approximately $193,590,400 in US government funds by creating fictitious government authorities, including a fabricated Special Access Program.
An FBI search of Rush's residence on May 19, 2026 recovered 298 gold bars, approximately $2,106,550 in cash and €104,795.
The gold bars had cost the government approximately $46 million to acquire, and Rush directed approximately $145 million in wire transfers toward luxury purchases.
Under the plea agreement, Rush will forfeit the gold bars, cash, fraudulently obtained properties, 30 watches and two 2026 BMW Alpina vehicles, one valued at approximately $172,000.
Rush is scheduled for sentencing on January 28, 2027 and faces a maximum of 20 years in prison, three years of supervised release, forfeiture, restitution and a fine.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 25 claims 26 Oct 2026

DOJ denaturalizes two citizens for concealing passport fraud and money laundering

The Justice Department announced two denaturalization judgments entered in October 2026, stripping citizenship from a Nigerian-born woman who used a stolen identity for passport fraud and a Cuban-born woman who concealed a money laundering conspiracy. The releases detail the underlying fraud, prior criminal convictions, and the civil litigation timeline that led to consent judgments revoking naturalization in both cases.

A California federal court revoked Vivian Chike Obichere's citizenship on Oct. 13 after finding she illegally procured it.
Obichere used the identity of a U.S. citizen, 'C.C.O.', to fraudulently obtain a passport in 1992 and renewed it in 2002 and again attempted renewal in 2012.
She was convicted in 2015 of False Statement in Application and Use of Passport in the Northern District of California.
A Florida federal court revoked Milagros Marileisis Acosta Torres's citizenship on Oct. 14 over a concealed money laundering conspiracy.
Acosta Torres was convicted in 2020, sentenced to six months in prison, and ordered to pay nearly $150,000 in restitution.

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United States DOJ Criminal Division Financial Crime ✓ 21 claims 25 Oct 2026

Chinese national extradited to US over $36.9m Cambodia-based crypto scam

The Justice Department has brought a Chinese national from the Netherlands to a Los Angeles courtroom over a cryptocurrency investment fraud run from scam centers in Cambodia. The case maps a specific laundering route: US bank accounts to Deltec Bank in the Bahamas, conversion into Tether, and onward transfer to wallets in Cambodia. It shows how the DOJ is pursuing the financial plumbing behind pig-butchering schemes.

Zheng Zhao, 44, was arraigned in the Central District of California after extradition from the Netherlands and faces a maximum of 20 years if convicted.
More than $36.9 million in victim funds moved from US accounts to a single Deltec Bank account in the Bahamas, was converted to Tether, and transferred to a wallet controlled in Cambodia.
The government identified 174 US victims of the fraudulent digital asset investment scheme.
Eight co-conspirators have pleaded guilty, including ShengSheng He and Jingliang Su, sentenced to 51 and 46 months respectively for conspiracy to operate an unlicensed money transmitting business.
Zhao was charged in August 2025 with conspiracy to commit money laundering as part of the Criminal Division's Cyber-Enabled Scam Initiative.

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United States DOJ Criminal Division Financial Crime ✓ 16 claims 23 Oct 2026

Telemedicine owner gets 20 years for $46.2M Medicare fraud scheme

A DOJ sentencing release detailing a six-year Medicare fraud conspiracy run through a telemedicine company and affiliated durable medical equipment suppliers. Relevant for compliance teams at telehealth, DME and laboratory businesses monitoring enforcement patterns in the health care fraud space and the penalties now being imposed.

Harwood was sentenced to 20 years in prison for organizing a $46.2 million Medicare fraud conspiracy spanning more than six years.
He was ordered to pay $17,942,402 in restitution to Medicare and $10,431,463 in forfeiture.
Doctors paid by Harwood signed orders for orthotic braces and genetic tests without Medicare-compliant telemedicine visits or real patient relationships.
Harwood sold the signed doctors' orders to DME supply companies, laboratories and marketers, and used his own DME companies to bill Medicare directly.
Harwood pleaded guilty in March 2026 to conspiracy to commit health care fraud and wire fraud.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 14 claims 23 Oct 2026

Google to verify US financial services ads using ABA bank registry

Google is expanding its Financial Services Verification program to the US and Canada, using an American Bankers Association registry to confirm advertisers are legitimate banks. The move follows years of ABA pressure on platforms to curb impersonation scams, and sets a new gatekeeping step banks will need to clear before running ads.

Google will expand its Financial Services Verification program to the US and Canadian markets starting early next year.
The verification program is currently operating in 42 countries, according to Google's blog post.
Financial services firms will need to seek verification through the program before advertising on Google.
Google will use an American Bankers Association registry to verify authorized banks before ads run in the US.
Google is working with the Canadian Bankers Association on a parallel verification arrangement for Canada.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 19 claims 23 Oct 2026

New Jersey brothers plead guilty to stealing $2.6 million in fake tax refunds

A DOJ guilty plea announcement details how two brothers used false Form 1041 trust filings to extract over $2.6 million combined in fraudulent IRS refund checks, then obstructed collection efforts with false nonresident filings. The case is part of DOJ's first National Tax Enforcement Surge, giving compliance and financial crime teams a window into current enforcement priorities.

Ronald Chrichlow and Gordon Chrichlow pleaded guilty to theft of government funds after claiming false refunds of $978,126 and $1,643,172 on 2022 Form 1041 filings.
The IRS issued Treasury checks for both amounts in March 2023, and Gordon Chrichlow used proceeds to buy a Porsche Taycan for approximately $117,364 and a house for approximately $686,258.
After an IRS revenue officer was assigned in August 2023, the brothers filed false Form 1040-NR returns falsely claiming nonresident status and treaty-based tax exemption.
Ronald Chrichlow earned $960,000 between 2021 and 2024 but did not file returns from 2022 to 2024, and separately claimed a false $93,228 refund for 2021.
Gordon Chrichlow failed to file returns from 2021 through 2024 despite earning more than $1.4 million in gross income in those years.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 14 claims 23 Oct 2026

Four Texans indicted over trust tax shelter tied to $200 million IRS loss

The indictment covers one case within DOJ's first National Tax Enforcement Surge, a nationwide push spanning early September to October 14. It details a promoted trust scheme, alleged obstruction of IRS audits, personal tax evasion and a separate fraudulent securities solicitation tied to one defendant, with charges carrying penalties up to 20 years per count on the most serious counts.

The indictment alleges the trust scheme sheltered more than $1.5 billion in client income, causing an estimated $200 million tax loss to the IRS.
Clients allegedly paid fees often exceeding $100,000 and were encouraged to backdate trusts and file amended returns claiming refunds.
Weickgenant is charged with corrupt interference with the IRS, including instructing clients not to speak with investigators and not to comply with a court order enforcing an IRS summons.
MacDonald is separately charged with wire fraud and transactions with criminally derived property over an alleged $2 million investor solicitation while under an SEC injunction barring unregistered securities sales.
The case is one of 76 defendants charged nationwide under DOJ's first National Tax Enforcement Surge, covering an estimated $490 million in intended and estimated federal revenue loss.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 22 Oct 2026

DOJ and HHS open six-month False Claims Act self-disclosure pilot for healthcare firms

The Justice Department's Civil Division and HHS have launched a six-month pilot giving healthcare companies a defined route to resolve potential False Claims Act violations by disclosing them voluntarily. The programme fixes the repayment multiplier at 1.25 to 1.6 and offers a coordinated civil release from FCA and certain HHS administrative liability. This briefing sets out who qualifies, what a disclosure must contain, and the deadline.

The six-month FCA SDPP accepts self-disclosure submissions through April 22, 2027, and late or incomplete filings will not be reviewed.
Self-disclosing companies must repay the government with a 1.25 to 1.6 multiplier, varying by timeliness, scope, senior-leadership involvement, financial benefit and successor liability.
Participants must describe all relevant conduct, produce sufficient documents and set out remedial actions taken, submitting electronically to FCA-SDPP@usdoj.gov.
Qualifying companies receive a coordinated civil release from liability under the federal False Claims Act and certain HHS administrative authorities.
The pilot covers potential civil violations only; potential criminal conduct must be disclosed to DOJ's National Fraud Enforcement Division.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 26 claims 22 Oct 2026

DOJ charges 15 in Los Angeles health care fraud takedown over $1.8bn in claims

The Justice Department's new National Fraud Enforcement Division unveiled a coordinated Los Angeles takedown spanning sober home, hospice, atherectomy, genetic testing and pharmacy fraud. For compliance leads at insurers and providers, the sweep shows how data analytics now drives case selection and how kickback-driven patient recruitment remains the common thread across schemes totalling over $1.8 billion in fraudulent claims.

Nathan Young, David Young, Honey Phipps and Cody Phipps are charged over a scheme that billed private insurers more than $1.6 billion for sham substance abuse treatment, with co-defendant Nicholas Moore pleading guilty to assisting $199 million in fraudulent claims.
Dr. Harold Tabaie and Hany Malek face a $135 million Medicare scheme for unnecessary atherectomies, a case DOJ says was identified through data analytics showing Tabaie as an extreme national billing outlier from 2016 through 2023.
Three separate hospice schemes, charged against Geoffrey Jimenez, Dr. Richard Keech and Armani Raffi, allegedly billed Medicare over $138 million for patients who were not terminally ill, with non-death discharge rates far above the national average.
Christina Mareik was indicted over a nearly $270 million Medi-Cal pharmacy scheme exploiting the suspension of prior-authorization requirements, with approximately $269,130,000 billed and at least approximately $178,746,000 paid.
Doctors Hassan Badday and Robby Ayoub are charged with accepting per-patient kickbacks from a marketer for ApolloMDx laboratory in exchange for authorizing medically unnecessary genetic testing orders.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Financial Crime ✓ 19 claims 22 Oct 2026

FTC sues GovAssist and owner Scott Zuckerman over passport impersonation scheme

The FTC has filed suit against GovAssist LLC, Entry LLC and individual Scott Zuckerman, alleging they impersonated the US government to lure travellers seeking passport services. The case tests the agency's Impersonation Rule and reaches a defendant already operating under a prior FTC order. For compliance teams at advertisers and platforms, it maps how the FTC frames paid-search impersonation as an FTC Act violation.

The FTC alleges GovAssist, Entry and Zuckerman impersonated the US State Department through paid Google search ads since at least October 2023.
The complaint cites violations of the FTC Act, the Impersonation Rule and the Gramm-Leach-Bliley Act.
Defendants advertised services starting at $89 while the lowest actual price was $119 plus a $29 shipping fee, totalling $148 as stated by the FTC.
Individual defendant Scott Zuckerman ran the scheme while under a prior FTC order in the unrelated Support King LLC stalkerware case.
The Commission authorised the complaint on a 2-0 vote; it was filed in the US District Court for the District of Puerto Rico.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 17 claims 22 Oct 2026

San Diego man pleads guilty to evading over $6.7 million in taxes

The Justice Department announced a guilty plea in a tax evasion case involving an unreported income scheme tied to the sale of purported federal tax credits. The item covers the scale of unreported income, how proceeds were concealed and spent, and the sentencing timeline, relevant to compliance teams tracking enforcement trends in tax-related fraud.

Peter L. Roper's businesses received nearly $19 million in income between 2010 and 2021 that was never reported to the IRS.
Roper owed more than $6.7 million in federal income taxes on that unreported income.
He spent $187,432.34 on a 2015 McLaren 650S Spider and $277,698.50 on a 2021 Aston Martin DBX using business funds.
Roper concealed assets by titling them in the names of others and pleaded guilty to one count of tax evasion.
Sentencing is scheduled for Jan. 8, with a maximum penalty of five years in prison.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 14 claims 22 Oct 2026

Fraud now costs US financial firms $5.47 for every $1 lost, LexisNexis finds

Two industry studies quantify what fraud is costing US banks and financial services firms. LexisNexis puts the multiplier on each dollar of fraud at $5.47, up from $4 in 2021, while PYMNTS.com finds institutions now spend more than $2 to prevent every $1 that gets through. The data points to mobile channels, AI-generated techniques and a sharp divergence between large banks and fintechs.

LexisNexis finds every $1 of fraud costs US financial services firms $5.47, up from $4 in 2021.
Websites and mobile apps accounted for nearly 70% of fraud losses, and 96% of institutions reported more fraud targeting mobile channels.
Institutions estimated AI-generated techniques contributed to 19% of fraud losses in the US.
PYMNTS.com put losses per institution at $1.92 million in 2026, up 8% from $1.78 million in 2024, with prevention spend rising to $4.35 million.
Nonbank fintech firms saw fraud losses rise from $800,000 to $2.84 million per institution, while large banks cut losses by nearly half.

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Govinfo Source document ↗

United States Govinfo Financial Crime ✓ 15 claims 22 Oct 2026

US Senate passes bill requiring dating apps to warn users of banned fraudsters

The Senate passed the Romance Scam Prevention Act by unanimous consent, a measure that would require online dating service providers to notify users when they have been communicating with an account banned for fraud. Senator Blackburn, presenting the bill, tied it to roughly $1.3 billion in annual losses from online romance scams, overwhelmingly borne by older Americans. For platform operators it introduces a statutory disclosure duty.

The Senate passed H.R. 2481, the Romance Scam Prevention Act, by unanimous consent on 23 September 2026.
The bill requires online dating service providers to provide fraud ban notifications to users.
Senator Blackburn said Americans lose roughly $1.3 billion each year to online romance scams, with senior citizens overwhelmingly the victims.
Blackburn described the scams as run by transnational criminal organisations that traffic workers into fraud dens and increasingly use AI to deceive consumers.
Representative Valadao was credited as sponsor of the House legislation.

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CSSF Luxembourg Source document ↗

CSSF Luxembourg Financial Crime ✓ 14 claims 22 Oct 2026

CSSF warns of fraudsters impersonating Luxembourg firm Fortuna Holding

The CSSF has published a warning that unknown persons are impersonating the Luxembourg company Fortuna Holding S.a r.l. and conducting fraudulent activity in its name. The notice sets out the specific website, email domain and phone number being used by the impersonators, and confirms the genuine company is unconnected to the activity.

The CSSF warns that unknown persons are impersonating Fortuna Holding S.a r.l., which it classifies as identity theft and illicit activities.
The impersonators use the website www.fortunaholding.net, email addresses on the fortunaholding.biz domain, and the phone number +44 7441476008.
The CSSF confirms the genuine company at 5, Rue Charles Darwin, L-1433 Luxembourg is not related to the activities described.
The warning was published on 22 October 2026.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 15 claims 21 Oct 2026

Las Vegas tax preparer sentenced to 38 months over $5m refund fraud scheme

A DOJ sentencing release details a multi-year tax refund fraud scheme run through a family-owned Las Vegas tax preparation business. The case shows how false credits and borrowed preparer identifiers were used to inflate client refunds, with proceeds diverted to the preparers themselves, offering a compliance reference point on preparer-level fraud controls.

Ivan Odiaga was sentenced to 38 months in prison for conspiring to defraud the United States.
From 2017 through 2021, Odiaga and his mother, Iris Hondermann, prepared tax returns seeking more than $5 million in refunds clients were not entitled to receive.
The pair diverted more than $1.1 million in fraudulent refunds to bank accounts one or both of them controlled.
In 2020 and 2021, Odiaga prepared some returns using another tax preparer's PTIN without permission.
Hondermann pleaded guilty on Aug. 5 to one count of conspiring to defraud the United States.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 25 claims 21 Oct 2026

DOJ fraud surge charges 40-plus defendants over nearly $42m in SNAP benefit fraud

The Justice Department's National Fraud Enforcement Division announced its first coordinated surge against SNAP and USDA program fraud, bringing actions against more than 40 defendants between September 1 and October 21, 2026. The cases centre on compromised EBT cards, stolen identities and authorised retailers trafficking benefits. For anyone tracking payments fraud and identity-theft typologies, the charging documents map how these schemes are run and monetised.

The surge ran from September 1 to October 21, 2026, producing actions against more than 40 defendants whose schemes caused nearly $45 million in intended losses, nearly $42 million of it against SNAP.
The largest case, United States v. Yaseen and Kanaan in the Southern District of Ohio, alleges $29.7 million in intended loss from thousands of fraudulent EBT transactions run through approved Chicago retail food stores using stolen state account data.
In the Oregon conspiracy, Ana Patricia Escalante was sentenced to 27 months and ordered to pay $2.4 million in restitution; 12 of 17 defendants have been sentenced to a combined 157 months.
Mark Frisbie pleaded guilty in the Middle District of Florida to false crop-insurance claims and agreed to pay $1,506,992.26 in restitution to the Farm Service Agency.
Schemes relied on skimming devices, stolen identities covering more than 650 victims in one Michigan case, and retailers exchanging cash and non-eligible goods for benefits at discounted rates.

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CFTC Enforcement Source document ↗

United States CFTC Enforcement Financial Crime ✓ 18 claims 21 Oct 2026

CFTC wins $9.2m default judgment against Louisiana man over forex fraud scheme

A federal court in Louisiana has entered a default judgment closing out a CFTC retail forex fraud case that already produced a criminal conviction. The segment covers what the court found, the penalty and bans imposed, and how the civil judgment sits alongside the nine-year prison sentence DePetrillo is already serving. Short, but a clean illustration of parallel civil and criminal resolution.

The court ordered a $9,211,492 civil monetary penalty against DePetrillo, Meteor LLC and NOLA FX Capital Management LLC.
The court found the defendants misappropriated more than $3 million through false solicitations, false account statements and Ponzi-like payments to existing participants.
The default judgment imposes permanent trading and registration bans and resolves all claims in the CFTC's 2024 complaint.
In the related criminal case, DePetrillo was sentenced on July 23, 2025 to nine years in prison and ordered to pay $6,748,412 in restitution.

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United States DOJ Criminal Division Financial Crime ✓ 20 claims 21 Oct 2026

Fraudster pleads guilty to scheme stealing benefits from thousands of US veterans

A US citizen who operated from the Philippines has pleaded guilty to exploiting stolen personal data of servicemembers and veterans to drain bank accounts and benefits. The case, part of the Criminal Division's Cyber-Enabled Scam Initiative, illustrates how an insider data theft inside a US Army records office fed a cross-border fraud and money-mule network.

Boling pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum of 20 years.
The stolen data originated with Fredrick Brown, a civilian Army medical records administrator in South Korea who photographed PII of thousands of military-affiliated individuals.
Boling was deported from the Philippines to the US in May 2026 and is scheduled for sentencing on January 14, 2027.
Co-conspirators Brown and Trorice Crawford were sentenced to 151 and 46 months; Jongmin Seok and Allan Albert Kerr remain fugitives.

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