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Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS

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AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS

KARTHIK SUBRAMANIAN, 10 June 2021

The company says that it would be using this investment to improve the consumer experience, and also work on additional features and upgrades to the existing software as well as expansion globally.

“The rise of digitization and with it, digital crime, is fueling a rapidly expanding market opportunity for personal digital security with a total available market of more than $100 billion. In the first quarter of 2021 alone, identity theft grew more than 130 percent, driven by a dramatic increase in government benefits fraud — up nearly 4,000 percent,” said Hari Ravichandran, founder, and CEO, Aura. “At Aura, we’re working to bring peace of mind to consumers that their families are protected from financial crime.” Continue reading “Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS”

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Article: NAB Anti-Money Laundering Compliance: A disaster waiting to happen

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NAB Anti-Money Laundering Compliance: A disaster waiting to happen

miragenews, 10 June 2021

The Finance Sector Union (FSU) is concerned about reports regarding the compliance failures at the NAB.

FSU National Secretary Julia Angrisano said the union has expressed its concerns to the NAB for many years, that the constant restructuring, casualisation, and setting of unrealistic targets has negative consequences for staff, the NAB, and the wider community.

“These concerns have now been borne out by media reports that show a workforce that is under great stress, trying to do the impossible with little resourcing and next to no training,” Ms Angrisano said. Continue reading “Article: NAB Anti-Money Laundering Compliance: A disaster waiting to happen”

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Article: Wife of ‘El Chapo’ Pleads Guilty to Drug and Laundering Conspiracy

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Wife of ‘El Chapo’ Pleads Guilty to Drug and Laundering Conspiracy

Patricia Hurtado, 10 June 2021

The wife of Mexican drug kingpin Joaquin “El Chapo” Guzman pleaded guilty on Thursday to narcotics trafficking and money laundering conspiracy charges, almost two years after Guzman was sentenced to life in prison.

Emma Coronel Aispuro, 31, has been in U.S. custody since she was arrested at Dulles International Airport in Virginia in February, accused of helping her husband operate the multibillion-dollar Sinaloa cartel and aiding his escape from a Mexican prison through an underground tunnel.

She pleaded guilty, in federal court in Washington, to conspiring to distribute illegal drugs in the U.S. and to launder money, and to engaging in transactions with a foreign narcotics trafficker.

Coronel, a U.S. citizen born in California, admitted working for the drug empire in a scheme that began around the time of her marriage to Guzman in 2007 and ran to the end of 2019. Guzman was convicted of engaging in a continuing criminal enterprise, as well as on drug trafficking and firearms charges, as leader of the cartel.

As part of a plea agreement, Coronel faces nine to 11 years in prison, federal prosecutors said Thursday.

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Article: SEC Launches Review Of High-Frequency Traders’ Market Abuses

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SEC Launches Review Of High-Frequency Traders’ Market Abuses

Tyler Durden, 09 June 2021

Nearly 8 years have passed since Michael Lewis published “Flash Boys”, raising awareness of the relatively new practice of high-frequency trading and its transformative impact on markets, allowing the most technologically-advanced traders to effectively see a picture of the market that’s nanoseconds ahead of what their non-NFT peers see, giving them a massive advantage.

Now, the SEC is finally considering changing the rules of how stocks are priced and traded to stop exchanges from incentivizing brokers (nowadays, particularly retail trading brokerages that have seen an explosion of activity in the past couple of years).

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Article: SEC sues over Marin Ponzi scheme, seeking $10 million

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SEC sues over Marin Ponzi scheme, seeking $10 million

Braden Cartwright, 09 June 2021

Details of the largest financial crime in Marin’s history were revealed in a lawsuit filed last week by the Securities and Exchange Commission against the estate of Ken Casey, who operated a Ponzi-like scheme and stole more than $10 million until his death in May 2020. Mr. Casey’s two Novato-based companies, Professional Financial Investors and Professional Investors Security Fund, brought in hundreds of millions of dollars from more than 1,300 victims. Investors believed they were financing a part of 70 residential and commercial properties in the area; in reality, their money was being used to pay prior investors and line the pockets of Mr. Casey and his co-conspirator, Lewis Wallach. “Many of the investors were elderly, retired and relying on their investment income for daily living expenses,” attorney Bernard Smyth wrote. Several West Marin residents were snared in the scheme, and some were given a commission to bring in more investors. Continue reading “Article: SEC sues over Marin Ponzi scheme, seeking $10 million”

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Article: US Attorney General Warns Ransomware ‘Getting Worse and Worse’

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US Attorney General Warns Ransomware ‘Getting Worse and Worse’/strong>

Masood Farivar, 09 June 2021

U.S. Attorney General Merrick Garland warned Wednesday that ransom-motivated cyberattacks are “getting worse and worse,” echoing other top Biden administration officials who have sounded the alarm about the problem in recent weeks.

“We have to do everything we possibly can here,” Garland told lawmakers. “This is a very, very serious threat.” Continue reading “Article: US Attorney General Warns Ransomware ‘Getting Worse and Worse’”

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Article: U.S. stocks end lower ahead of inflation report

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U.S. stocks end lower ahead of inflation report

Stephen Culp, 09 June 2021

NEW YORK (Reuters) – Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.

The retail “meme stock” craze continued unabated. All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts. Continue reading “Article: U.S. stocks end lower ahead of inflation report”