Read More about fast-id page

Shufti globally launches webinr-icon - a new kind of identity solution!

Shufti globally launches - a new kind of identity solution!

Read more

Ramon Abbas, Nigerian Instagram Influencer Pleads Guilty to Million-dollar Fraud

ramon

Nigerian instagram influencer, Ramon Abbas (Hushpuppi), admitted that he was involved in a conspiracy to defraud a businessman in Qatar for more than $1 million. 

Ramon Abbas, also known as Hushpuppi, admitted that he was involved in a scheme to defraud a businessman in Qatar of more than $1 million. The US Department of Justice said that the accused confessed that he was laundering money through bank accounts across the world along with several other cybercrimes and business email compromise scams that collectively resulted in a loss of more than $24 million.

Ramon pleaded guilty on April 20, 2021, whereas the court documents were unsealed on July 28. First arrested in June 2020 by UAE authorities at his luxury apartment in Dubai and the police revealed that they seized approximately $41 million in cash with 13 luxury cars. Furthermore, more than 100,000 fraudulent files were found on his phone and computer with addresses of around two million victims. 

The guilty was turned over to the FBI agents and later to Los Angeles to face trials on money laundering charges. The court documents revealed that Abbas and other defendants reportedly posed as bank clerks and created a fake website for convincing the businessman to give money for financing a school. 

According to the Justice Department, 

“North Korea’s operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world’s leading bank robbers.”

Abbas was accused of conspiring with North Korean hackers to steal more than $1.3 billion from companies and banks in the US and other countries which led him to more trouble.

Suggested: Rising Social Media Scams in 2020 Calling for Digital Identity Verification 

Related Posts

News

UK MPs Call for Improved Crypto Regulations to Prevent Losses

Ministers of the UK Parliament are calling for more rigid cryptocurrency regulations from the ASA...

UK MPs Call for Improved Crypto Regulations to Prevent Losses Explore More

News

OCC Warns Federal Banking System of Crypto & Cybersecurity Risks

The OCC has warned the federal banking associations, branches and agencies on crypto-asset and cy...

OCC Warns Federal Banking System of Crypto & Cybersecurity Risks Explore More

News

Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19

The Monetary Authority in Hong Kong (HKMA) has issued new guidelines for the banks on merging ext...

Hong Kong Provides Guidance to Fight Financial Crimes Emerging from COVID-19 Explore More

News

Turkey Remains on the FATF Gray List for AML Regulations Failures

Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing T...

Turkey Remains on the FATF Gray List for AML Regulations Failures Explore More

News

NYDFS States Signature Bank’s Closure Was Not Linked to Crypto

According to the head of NYDFS, the decision to close Signature Bank last month had nothing to do...

NYDFS States Signature Bank’s Closure Was Not Linked to Crypto Explore More

News

European parliament imposes ban on facial recognition technology

Following a public outcry after the leak of an internal memorandum discussing the utilization of ...

European parliament imposes ban on facial recognition technology Explore More

News

Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers

According to the prosecutors and financial regulators, cryptocurrency mixers are reportedly being...

Prosecutors Raise Questions About KYC/AML Against Cryptocurrency Mixers Explore More

News

Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector

The National Payment Systems Services Association has collaborated with Uganda Bankers Associatio...

Digital Payment Providers Collaborate with UBA to Combat Scams in the Financial Sector Explore More

News

Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024

The National Assembly of Vietnam passed the new e-Transaction law replacing the previous one, No....

Vietnam’s New Legislation on E-Transactions Will Take Effect on July 2024 Explore More

News

Cyprus to Test UBO Registration System for AML Compliance

The government of Cyprus has indicated it will test a system for registering ultimate beneficial ...

Cyprus to Test UBO Registration System for AML Compliance Explore More

News

Internet fraud complaints went up by 30% last year

As per Economic Affairs Minister Nathalie Muylle, Belgium’s Economic Inspection Unit received 29%...

Internet fraud complaints went up by 30% last year Explore More

News

UAE Central Bank to Take Action Against Unregistered Hawala Operators

From 2nd December 2020, the Central Bank in UAE will begin taking action against the unregistered...

UAE Central Bank to Take Action Against Unregistered Hawala Operators Explore More

News

Taiwan FSC to Ease Authentication Rules through Biometric Verification

According to new rules, banks will be using biometric authentication methods to fulfil ID authent...

Taiwan FSC to Ease Authentication Rules through Biometric Verification Explore More

News

Uruguay Faces 3 Obstacles in the Fight Against Money Laundering

Uruguay’s national secretariat unit, SENACLAFT, revealed three obstacles in fighting money launde...

Uruguay Faces 3 Obstacles in the Fight Against Money Laundering Explore More

News

Legal Challenges Against TikTok for Breaching Child Privacy Policy

TikTok, the most trending social media application in the present times is facing legal actions f...

Legal Challenges Against TikTok for Breaching Child Privacy Policy Explore More

News

CBUAE Introduces New Program to Boost Digital Transformation in Financial Services

UAE Central Bank has introduced a program that includes a new digital currency, open finance and ...

CBUAE Introduces New Program to Boost Digital Transformation in Financial Services Explore More

News

Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines

The Australian gold corporation, the Perth Mint, escaped penalties for inadequate compliance syst...

Australian Gold Company, The Perth Mint, Accepts Voluntary Undertaking to Avoid AML Fines Explore More

News

Data of Half-Million Chicago Students Exposed in a Ransomware Attack

The personal information of more than half a million Chicago students and the staff was accessed ...

Data of Half-Million Chicago Students Exposed in a Ransomware Attack Explore More

News

British Columbia Makes Regulatory Change to Combat Money Laundering

The British Columbia government is providing the gambling regulator of the province more independ...

British Columbia Makes Regulatory Change to Combat Money Laundering Explore More

News

UAE to be Removed from FATF Gray List in 2024

The UAE’s Minister of State for Foreign Trade and chairman of the Emirates Bullion Committee hope...

UAE to be Removed from FATF Gray List in 2024 Explore More

News

Europol Releases First Financial and Economic Crime Report

Europol has published its first-ever threat assessment report on financial and economic crimes, h...

Europol Releases First Financial and Economic Crime Report Explore More

News

UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms

The UK government is looking to mandate the declaration of crypto holding in Self Assessment tax ...

UK to Mandate the Declaration of Crypto Holdings in Self-Assessment Tax Return Forms Explore More

News

SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals

COVID-19 pandemic has paved the way for cybercriminals to target South Africa’s healthcare organi...

SA’s Healthcare Organizations Become the Latest Prey for Cybercriminals Explore More

News

Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry

Legislators in Sweden will consider increasing penalties for gambling operators who violate the n...

Swedish Legislators Propose an Increase in Money Laundering Penalties for the Gambling Industry Explore More

News

Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity

Canada’s government announces public consultation for creating a federally regulated digital iden...

Canada’s Federal Government Announces Public Consultation Regarding a New Framework for Digital Identity Explore More

News

Kenya Takes First Step to Regulate Virtual Asset Market

The Kenyan government is all set to take the first step to regulate a vast $20 Billion crypto mar...

Kenya Takes First Step to Regulate Virtual Asset Market Explore More

News

Govt assists Struggling Swiss Crypto Valley

Switzerland’s “Crypto Valley” is in talks with the federal government for fixing a 100 million Sw...

Govt assists Struggling Swiss Crypto Valley Explore More

News

Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures

The Philippine financial system did not comply with international Financial Action Task Force (FA...

Phillippines Added to FATF Gray List Again for Inadequate AML Casino Measures Explore More

News

Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors

NY Police have handed over the investigation of a $100,000 ID theft ring allegedly involving a fo...

Credit Union Identity Theft Investigation Handed Over to Federal Prosecutors Explore More

News

FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations

The Financial Conduct Authority (FCA) has fined Gatehouse Bank £1.58 million. The regulator disco...

FCA Fines Gatehouse Bank £1.58mn for Breaching Money Laundering Regulations Explore More

News

UK Government to Crackdown Corruption Under New AML laws

Overseas firms owning land in the UK need to publicly declare the owners, under the new UK laws t...

UK Government to Crackdown Corruption Under New AML laws Explore More

News

US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering

The US Treasury officials stated Iraq’s central bank should design new measures to combat the mis...

US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering Explore More

News

Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation

A breach notification was filed with the Maine Attorney General’s Office for the first time, reve...

Ransomware Attack Exposes 5.8 Million Pharmaceutical Records of PharMerica Corporation Explore More

News

Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission

Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...

Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission Explore More

News

CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure

Maitland Luxembourg SA received a penalty of €226,000 over anti-money laundering and customer due...

CSSF Imposed a €226,000 Fine on Maitland Over AML Compliance Failure Explore More

News

The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator

According to the US bank regulator, banks and the fintech alliance for a seamless customer experi...

The Rise of FinTech Services can Spur Financial Risk: Says U.S. Bank Regulator Explore More

News

FIAU Fines iGaming Company Approximately €236,789 for Money Laundering

The Financial Intelligence Analysis Unit has ordered a Malta-based remote gaming operator to pay ...

FIAU Fines iGaming Company Approximately €236,789 for Money Laundering Explore More

News

US Treasury Targets Russian Oligarchs as Part of New to Tackle Illicit Finance

Strategy imposed by the US Treasury to combat illicit finance targets Russian Obligarch as part o...

US Treasury Targets Russian Oligarchs as Part of New to Tackle Illicit Finance Explore More

News

US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor

Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the he...

US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor Explore More

News

US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry

The US Treasury Department has found the country’s art market to be vulnerable to financial crime...

US Treasury Holds Back AML Reforms Despite Money Laundering Through Art Industry Explore More

News

President of Argentina Open to CBDC Adoption but Central Bank Says No

Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...

President of Argentina Open to CBDC Adoption but Central Bank Says No Explore More

News

G20 regulator warns countries to alleviate risks of Libra-like stablecoins

The Financial Stability Board (FSB) has alerted national regulators to gauge standards and tackle...

G20 regulator warns countries to alleviate risks of Libra-like stablecoins Explore More

News

FinCEN Implements Stringent KYC Regulations For Digital Wallet

The USA Treasury Department has proposed KYC- Know Your Customer Regulations for the digital asse...

FinCEN Implements Stringent KYC Regulations For Digital Wallet Explore More

News

Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion

An inquiry into the world’s biggest crypto exchange Binance has revealed that it has aided money ...

Binance in Trouble for Allegedly Aiding Money Laundering Worth $2.35 Billion Explore More

News

Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures

The Financial and Capital Market Commission has fined Bank Rietumu EUR 5.85 million over failures...

Latvia’s Bank Rietumu Fined EUR 5.85M Over Money Laundering Failures Explore More

News

FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited

New Zealand’s FMA has warned investors against services and products being offered by unauthorize...

FMA Blacklists Krypto Security, Bay Exchange, and CTRL Investments Limited Explore More

News

UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe

The UK’s NCA has recovered 5.6 million pounds ($7.5 million) from bank accounts in the country wh...

UK NCA Recovers $7.5 Million from Azerbaijani Laundromat Probe Explore More

News

Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report

The report has highlighted areas of high priority that need further study and the risks associate...

Asia/Pacific Group on Money Laundering Releases 2021 Typologies Report Explore More

News

MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers

The Malta Financial Services Authority (MFSA), Securities and Exchange Commission (SEC), and Fina...

MFSA, SEC, Along with FCA Introduces New AML Guidelines for Money Laundering Officers and Virtual Asset Service Providers Explore More

News

SMEs Decry Registration Hurdles Owing to SCUML Certificate

SMEs have decried hurdles in opening business/corporate accounts due to the Anti Money Laundering...

SMEs Decry Registration Hurdles Owing to SCUML Certificate Explore More

News

UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks

The Treasury Committee of the UK’s House of Commons has urged the public to submit their take and...

UK Treasury Committee Launches Inquiry into the Role of Crypto Assets and the Associated Risks Explore More

News

Cybercrimes in UK have ‘doubled’ in past five years

Large businesses remain most at target but SMBs have seen the steepest rise in successful cyber a...

Cybercrimes in UK have ‘doubled’ in past five years Explore More

News

Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime

The Central Bank of Turkey is to ban the use of cryptocurrency payments by 30th April. This initi...

Turkey to Ban Cryptocurrency Payments to Avoid Financial Crime Explore More

News

UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures

Six banks in the UAE have been issued financial sanctions by the UAE Central Bank for not complyi...

UAE Central Bank Imposes Financial Sanctions on Six Banks for CDD Failures Explore More

News

Banks Creating Regulations for the Cannabis Merchants for Better Compliance

Growing and dealing in cannabis was illegal a few years back. However, the medical benefits of ma...

Banks Creating Regulations for the Cannabis Merchants for Better Compliance Explore More

News

Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report

As per the new report by the U.S. Department of the Treasury, Fintech requires tight controls to ...

Fintech Requires Tight Controls to Mitigate Data Privacy Risks, Treasury Report Explore More

News

Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill

Morocco’s Central Bank is drafting a set of comprehensive cryptocurrency laws as the digital asse...

Central Bank of Morocco to Introduce a Comprehensive Crypto Regulation Bill Explore More

News

$2 Trillion Moved and Now Banks Resist Money Laundering Orders

According to the ICIJ journalist, BuzzFeed shared some documents disclosing the attitude of finan...

$2 Trillion Moved and Now Banks Resist Money Laundering Orders Explore More

News

FATF Urges Japan to Implement Stronger AML Measures

The FATF mutual evaluation report on Japan proposes the formation of a joint-agency body to enhan...

FATF Urges Japan to Implement Stronger AML Measures Explore More

News

Philippines anti-money laundering council demands strict POGO regulations

The Philippines Anti-Money Laundering Council (AMLC) has advised of an “increasing level of threa...

Philippines anti-money laundering council demands strict POGO regulations Explore More

News

Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU

According to the FSC, the crypto-focused bureau will improve the transparency in virtual asset tr...

Korea FSC Confirms Plans for Crypto-focused Bureau at KoFIU Explore More

News

The US publishes a list of North Korea’s supposed Crypto crimes

The US government, on Wednesday, outlined an aggressive set of countermeasures it said could hamp...

The US publishes a list of North Korea’s supposed Crypto crimes Explore More

News

Remarkable Progress in Facial Recognition Revealed by a New Study

Could you have imagined a few years ago that you could be identified from your brain scan? The id...

Remarkable Progress in Facial Recognition Revealed by a New Study Explore More

News

Myanmar Promises Improvements after FATF’s Blacklisting

Myanmar’s central bank has made promises of reforms and issued a warning against currency m...

Myanmar Promises Improvements after FATF’s Blacklisting Explore More

News

Amazon Challenges Pentagon’s $10 Billion Contract To Microsoft

Amazon said on Thursday, that it is going to challenge a $10 billion contract awarded to Microsof...

Amazon Challenges Pentagon’s $10 Billion Contract To Microsoft Explore More

News

Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency

Australia is looking at the laws that would require cryptocurrency providers to record the inform...

Australian Regulators Seeking to Implement Travel Rules for Cryptocurrency Explore More

News

Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020

According to Russia’s largest state-owned bank, Sberbank, the total amount the citizens along wit...

Sberbank Warns Russians; Cybercrime Cost the Nation $49bn in 2020 Explore More

News

Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends

Danske Bank expects a massive rebound in earnings this year, 2023, after the closure of the money...

Danske Bank Expecting Huge Profit Rebound as Money Laundering Case Ends Explore More

News

Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation

The Bank of Ghana proposed guidelines for banks to enhance the Anti-Money Laundering and Combatin...

Bank of Ghana Proposed Guidelines to Strengthen AML/CFT Regulation Explore More

News

Australian Banks Ban High-Risk Digital Currency Transactions

Australian banks, Bendigo and Adelaide, have banned high-risk digital transactions to protect the...

Australian Banks Ban High-Risk Digital Currency Transactions Explore More

News

Shufti picks up two business awards

October has been an amazing month for Shufti. In September it was nominated for outstanding p...

Shufti picks up two business awards Explore More

News

Seychelles Prosecutes First Money Laundering Case Against Elites from Pandora Papers

Seychelles, known for being a tax haven, was recently removed from the EU’s blacklist and is purs...

Seychelles Prosecutes First Money Laundering Case Against Elites from Pandora Papers Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started