Jason Costain

Money Mules: The New Scams Battleground for Banks (This article first appeared on LinkedIn. If you’re looking for tips on how to stop mule payments in real-time, details can be found at the foot of this page. Thanks for stopping by) Most people in fraud and financial crime will know that  around 70% of APP scams begin on online platforms  such as Meta, TikTok, and other social channels. But far fewer realise a more uncomfortable truth:  98% of scam victims ultimately send their money to a UK...

In recent days, the UK and US authorities have caught up on the criminal activities of Chen "Vincent" Zhi, the Chairman and founder of the Prince Group . The case reveals a troubling mix of property linked to crypto scams, human trafficking, and money laundering. For professionals in Anti-Money Laundering (AML) and scam prevention, understanding this case is essential as it unfolds over the coming weeks. The Prince Group, under Chen Zhi's direction, has ties to forced labor and fraudulent...

Scams - when is it ok for banks to say “no” to a customer payment instruction? The story attached ⬇️ is a good case study of the...