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Cryptocurrencies: The Evolution of Criminal Funds

In the absence of effective regulation, the criminal use of cryptocurrency is accelerating. Whilst the scale of the criminal use of cryptocurrencies is difficult to determine, it was estimated to be roughly $14 billion worth of transactions in 2021. $14 billion represents only a small share of the overall cryptocurrency market, however, this figure…

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Business Due Diligence: Understanding the Fake Agency Fraud Behind Madbird.

In 2020, the world went into lockdown. During this time, many people lost their jobs and many others began to work from home full-time. During this time, Madbird, a London-based digital design agency, hired roughly 50 remote employees worldwide for management, sales, and design positions. Job ads were posted internationally, promising sponsorship to…

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Money Mules: How Organized Crime Groups Recruit Via Social Media For Money Laundering

When criminals profit from crime, they need to make their money look legitimate. Criminals avoid using their bank accounts to transfer their criminal funds directly as this would easily link them to their criminality. The criminals first want to move the money around to create a complicated trial. To do this, they launder the money, moving it around…

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Offshore Leaks: Investigating Dirty Money and White Collar Crime

Tax havens are jurisdictions with significantly low rates of taxation for foreign investors, which may also offer financial secrecy. With the help of white-collar professionals, like lawyers and accountants, the wealthy can avoid taxes by shifting their money offshore and parking it in foreign nations.

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Connecting the Dots: Social Network Analysis in Criminal Investigation

Investigators frequently need to establish if two or more individuals or businesses connected to an investigation are associated with one another in any way. Identifying an association may mean identifying if two people know one another or may involve identifying an array of links between a large group of people within an organized crime group.…

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A Fraud with Your Name on It: The Use and Abuse of OSINT in Identity Fraud

Identity fraud is on the rise. The digital shift of the pandemic has affected virtually every activity and sector: including financial crime, and the malicious theft of personal information. This is a problem not just for individuals but for businesses too. Employees’ “personal” information often includes data used to access internal systems, company…

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Hunting for Open Secrets: How OSINT Can Help You Intercept a Scandal

For centuries, access to information was limited by human, geographic, and technological limitations. Corruption was typically a conversation behind closed doors. Fast forward to the year 2021, and information is everywhere. That means the conversation is often closer - and more accessible - than you might think. Sometimes it’s held right in the middle…

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The Anatomy of Onshore Money Laundering

The use of legitimate “onshore” economies as a thoroughfare for international financial crime is surprisingly widespread. Whilst scrutiny has long targeted offshore tax havens and low-disclosure jurisdictions - and not without good reason - comparatively, little attention has been paid to fraudsters brazenly operating on home ground. 

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From Checklist to Checkmate: How to Really Know Your Client

Does your customer know you better than you “Know Your Customer”? Over the past two decades, U.S. regulators have handed out billions of dollars in fines and deferred prosecution agreements (DPAs) for the facilitation of money laundering, sanctions evasion, or terrorist financing. But the $2 trillion worth of suspicious transactions detailed in last…

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Using Social Media in Claims Investigations

YouTube, Facebook, Twitter, Instagram and other social media outlets have become a great way to connect with friends, meet new ones, voice opinions and even market personal talents.  As society accepts social media as an outlet to replace traditional methods of communication, an entirely new source of personalized data becomes available to the World…

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