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Universal Credit claims no longer paused while AI fraud checks carried out

The government has stopped routinely suspending benefit claims flagged by its AI-powered fraud detector. The DWP has put its AI tool at the heart of a plan to tackle increasing levels of benefits fraud, projecting it could save the department £1.6bn by 2030/31 through better targeting of investigations…

Modern slavery is still lurking in your coffee cup

The persistence of modern slavery on Brazilian coffee plantations demonstrates the need to strengthen binding legal and regulatory frameworks on due diligence and forced labour. Modern slavery is not just a reputational risk to be managed; governments and companies have a legal and moral obligation to eradicate it…

Investigators cracked a $130 million money-laundering scheme by tracing the ringleader’s air miles

More than £104 million, or about $131 million, in cash was smuggled from London to Dubai in 83 trips, the UK’s NCA said. The network collected cash from criminal groups across the UK, believed to be the proceeds of drug dealing, and packed it into suitcases, which contained about $500,000 each…

Is the UK sanctions watchdog up for the fight?

The only action OFSI has taken regarding the wave of sanctions following Russia’s invasion was in September against payments firm Wise, which was found, following a self-report, to have allowed a £250 withdrawal from a business customer the day after the day after sanctions were imposed against them. Wise was not fined…

UBS wins as Credit Suisse money-laundering probe axed

UBS Group AG got a boost in one of the litany of legal disputes it inherited from Credit Suisse, as authorities dropped a money-laundering probe into the defunct firm’s handling of a rogue banker who fleeced his rich clients. A year and a half after seeing grounds for indicting Credit Suisse, Geneva’s top financial prosecutor Yves Bertossa…

A new episode of KickBack: The Global Anticorruption Podcast focusing on different dimensions to the EU’s fight against corruption

The conversation also explores the challenges of building institutional resilience to corruption within potential accession countries as well as EU member states themselves–most notably the question of how the EU should be responding to autocratic regimes like Viktor Orbán’s government in Hungary…

The Times: UK Foreign Office development arm invested £500m with fraud suspect

The Foreign Office’s development arm invested £500 million with an alleged fraudster now facing decades in US jail, with internal documents showing the deals continued despite “several red flags flying”…

It’s fraud at full trottle – predictions for 2024

In 2024, a new wave of “Inny” perpetrated fraud will be realised at banks, lenders, telecom providers, online retailers, and shippers. The word “Inny” has been popularised on social media fraud forums to sell insider access to do everything…

Nigerian president suspends humanitarian minister in corruption scandal

Nigeria’s president suspended the country’s minister of humanitarian affairs and poverty alleviation with immediate effect over the use of a private bank account for ministry financial transactions in the government’s social welfare program…

RTE: Thousands of money mules operating in Ireland highlight growing cybercrime and money laundering concerns

As Interpol says Ireland is one of a number of countries being specifically targeted by international cybercrime gangs, and gardaí warn thousands of people’s bank accounts are being used to launder money…

US data intelligence firm sanctioned by China

China imposed sanctions on US data intelligence firm Kharon and its employees, banning their entry into China and freezing their assets. These sanctions complicate multinational corporations’ trade due diligence efforts and underscore the need for a holistic approach to navigate trade regulations in China…

China sanctions five US arms manufacturers over Taiwan weapons sales

The countermeasures consist of freezing the properties of those companies in China, including their movable and immovable property, and prohibiting organisations and individuals in China from transactions and cooperation with them. The US arms sales to China’s Taiwan region, seriously harm China’s sovereignty and security interests…