Virus-linked fraud schemes cost US consumers nearly $5 mn
Washington (AFP) - Coronavirus-related fraud schemes are rising fast and have cost US consumers some $4.77 million so far, a government watchdog said Tuesday.The Federal Trade Commission said it had more than 7,800 coronavirus-related reports from consumers as of Monday, double the number from a week earlier.The consumer protection agency said the fraud complaints include emails about travel and vacation cancellations and refunds, online shopping scams and government and business imposter schemes. Many of the schemes were also being perpetrated by mobile text or robo-calls, the FTC said.The me...
BDO warns clients of fraud amid COVID
BDO warns clients of fraud amid COVID(The Philippine Star) – March 27, 2020 – 12:00amMANILA, Philippines — People all over the world are eagerly searching the internet to learn more about COVID-19. However, as medical experts are still learning about it themselves, there is a shortage of trustworthy information online.Paying no mind to the global health crisis, cybercriminals are taking full advantage of the situation and exploiting people’s fear and anxiety. They send out fraudulent but highly believable bait messages that trick people into divulging their personal information.In the US, some...
Firms told not to refuse virus claims
The Office of Insurance Commission (OIC) affirmed that insurance companies cannot refuse claims made by those who take out coronavirus insurance coverage, even for worst-case scenarios in which the government announces that Thailand has entered Stage 3.If the spread of the epidemic worsens in the future, insurers cannot use that fact to reject claims, said OIC secretary-general Suthiphon Thaveechaiyagarn.Policyholder fraud is the only cause for which insurance companies can deny claim payment, he said.Mr Suthiphon recommended that consumers who want to take out Covid-19 policies peruse the ter...
The Bangkok Post
Award winner in US wanted in Xinjiang for fraud
Artists play music in Kashi, northwest China's Xinjiang Uygur Autonomous Region, on June 12, 2019. Photo: XinhuaSome US politicians have turned a blind eye to the misdeeds of Sayragul Sauytbay, a suspected criminal from China's Xinjiang Uygur Autonomous Region, and portrayed her as a "human rights fighter" to interfere in China's policies in Xinjiang, which is a low form of conduct by the US and is firmly opposed by Xinjiang people, a Xinjiang regional government spokesperson said on Thursday.The Xinjiang regional government held a press conference on Thursday, in which spokesperson Elijan Ana...
GUYANA-COURT- Former Registrar of Deeds found guilty of fraud
Former Registrar of Deeds, Azeena Baksh was found guilty on Wednesday, almost three years after facing a fraud charge for obtaining GUY$4.5 million under false pretense,however, she will serve no jail time.Instead, the court ordered her to repay the funds to the state of Guyana. She has to pay at least $1 million before the end of Wednesday and has three months to pay off the remaining amount.The Court found that Baksh unlawfully paid herself gratuity in the sum of $4.5 million, knowing that she was not a contracted employee at the Deeds and Commercial Registry and therefore was not entitled t...
How to avoid losing money in the stock market
In this video, Sven Carlin discusses how you can spot fraud and how to avoid losing money when it comes to investing. You probably will not need this for immediate application to your stock market portfolio, but is something that might save you a lot of money in the future. The key when it comes to investing in stocks the key are earnings. However, from the top line – revenue, to the bottom line – earnings, there is a lot in between.Q4 2019 hedge fund letters, conferences and moreHow To Sport Fraud And Avoid Losing MoneyTranscriptGood day fellow investors. This will be an introductory video on...
Fugitive Indian jeweller's luxury collection raises $7.65 mn
Mumbai (AFP) - A Rolls-Royce Ghost, Hermes handbags and rare paintings were among the luxury items seized from fugitive billionaire jeweller Nirav Modi that raised $7.65 million for India's tax authorities at an auction Thursday.Authorities put the high-end items up for sale to recover back taxes owed by Modi, who is accused of involvement in a massive bank fraud that rocked India's corporate community.The fugitive merchant fled India in February 2018 and has been fighting in a London court to stop his extradition from Britain."We saw intensely competitive bidding across categories and from ar...
Ghana’s ex-football chief charged with fraud
Accra.The former head of Ghanaian football Kwesi Nyantakyi was on Wednesday charged with fraud at a high court in Accra, after a landmark undercover investigation which exposed widespread graft in African football.An undercover documentary by journalist Anas Aremeyaw in 2018 sent shockwaves through the game in the West African nation, after showing Nyantkakyi allegedly soliciting kickbacks worth millions of dollars and accusing several footballing officials of corruption.The former head administrator was also shown allegedly receiving a $65,000 financial inducement.Appearing in court Nyantakyi...
Bayonne schools security chief charged with $20G Sandy fraud
The chief of security for the Bayonne School District was charged Monday with defrauding a Superstorm Sandy relief fund, authorities said.Timothy Carey, 54, claimed that a property in Manahawkin that sustained storm damage was his primary residence when it is actually a vacation home, according to the state Attorney General’s office. Carey then filed for relief funds to address the damage and received two: one worth $10,000 and another worth $9,953.Carey’s primary residence at the time of the 2012 storm was in Lincroft, officials said.He faces charges of theft by deception and unsworn falsific...
EFCC slams fresh charges on Mompha over N32.9bn fraud
Mompha with one of his exotic carsThe Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, has re-arraigned Ismaila Mustapha (aka Mompha), before Justice Mohammed Liman of a Federal High Court in Ikoyi, Lagos, Southwest Nigeria over alleged N32.9 billion fraud.The socialite was first arraigned alongside his company, Ismalob Ventures on November 25, 2019 on a 14-count charge bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria, CBN.The defendant had pleaded “not guilty” to the charge and was granted ...