You’ve probably heard plenty about tariffs lately, including a heavy dose of speculation. What you may not have heard about are the fraudulent measures some companies take in an effort to evade them and essentially get an unfair pricing advantage by defrauding the federal government.  If existing tariffs increase or new ones are imposed, we’ll likely see more attempts to evade them, including fraudulent labeling or transshipment, which involves shipping to an intermediate destination that … [Read more...]

TD Bank last month became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures and to conspiracy to commit money laundering. The dubious distinction came with agreements to pay more than $3 billion in penalties — the largest penalty ever imposed under the act. Internal bank communications showed that employees knew lax internal policies made TD Bank, the nation’s 10th-largest bank, an easy solution for criminal networks. What’s not known: How the … [Read more...]

Online scams are soaring, drawing the eye of federal enforcers, who want the help of whistleblowers to prosecute and stop fraudsters. Cryptocurrency-related complaints, an up-and-coming area of fraud, hit $5.6 billion in losses last year, up 45 percent from 2022, according to an FBI report. Investment fraud accounted for the bulk of the crimes with a cryptocurrency nexus, followed by tech support scams, personal data breaches, extortion, confidence/romance, and government … [Read more...]