Standard Chartered slapped with $2.7bn lawsuit over fraud scandal Banking Standard Chartered has been hit with a $2.7bn lawsuit over its alleged role in one of the world’s largest financial fraud cases, known as the 1MBD scandal. The London-headquartered lender is being accused of helping move and hide billions of dollars that were stolen from Malaysia’s 1MDB fund, by not sufficiently checking to see where [...]
How to spot a financial scam Personal Finance Financial scams are on the rise. Here’s what to be aware of to make sure you don’t fall victim to one, and what to do if you or someone you know is scammed. Criminals stole over £1bn through fraud in 2024, UK Finance’s latest fraud report has revealed. There were over 3.3m confirmed cases of [...]
Virgin Media 02 reignites calls to crack down on fraud as Brits lose £600m Media Virgin Media 02 has called on the new Labour government to appoint a dedicated minister for fraud and set up a centralised, specialised national body to handle investigations. The telecom giant has argued that current law enforcement resources regarding fraud “remain inadequate” despite fraudulent activity representing 40 per cent of all crime in the UK. [...]
Liquid gold? Olive oil fraud cases hit record high in EU July 29, 2024 The number of cases of fraudulent olive oil referred to the EU hit a record high this year after inflationary pressures fuelled black market activity. The price of olive oil has more than doubled in the last five years on climate-related supply pressures and environmental shocks. There were 50 reports to the European Union of [...]
