Latest news and articles about financial crimes from NEX English
Thai authorities have confiscated assets valued at 8.3 billion baht ($260 million) belonging to individuals alleged to be behind a money laundering network connected to cross-border cyber fraud in Cambodia. This action is part of the government's ongoing efforts to combat financial crimes.
A Spanish court has announced the extension of Mitchell Ong's detention for an additional two years. The judge confirmed the existence of 'logical, clear, and consistent' evidence supporting the charges against him.
A court in Singapore has sentenced Tan King Wei to prison and imposed a fine of <strong>one million dollars</strong> for running illegal lending operations. Between <strong>2004</strong> and <strong>2019</strong>, Tan earned approximately <strong>5.2 million dollars</strong> from these activities, highlighting the challenges authorities face in combating illegal lending.
Authorities have announced strong measures to safeguard financial security, aiming to counter any attempts that could harm financial stability. These actions are part of a broader effort to enhance national security and ensure the safety of funds.
On Tuesday, March 31, the Indonesian capital Jakarta experienced a series of security incidents, including the uncovering of a counterfeit money network and a South Korean citizen falling victim to a significant fraud scheme.
Indonesian police have revealed a network involved in counterfeiting 100,000 rupiah notes in Bogor, leading to the arrest of a suspect and the seizure of a large amount of counterfeit money.
Indonesian police revealed details of a sophisticated fraud scheme involving three Liberians who used cleaning liquid to deceive a South Korean citizen. The victim suffered losses estimated at <strong>1.6 billion rupiah</strong>.
The Saudi Central Bank (SAMA) has issued a directive mandating financial institutions to establish a technical connection with the Wathiq service provided by the Ministry of Commerce. This initiative aims to enhance the verification processes for 'real beneficiaries' and combat money laundering and terrorism financing.