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Iraq’s Central Bank Warns of Expanding Financial Crime Risks Fueled by Influencer Activity

Iraq’s financial regulators are raising alarms over a growing trend in which social-media personalities are being leveraged as tools for illicit financial transfers. According to officials, the combination of online visibility, rapid audience engagement, and loosely monitored revenue channels has created conditions that criminal groups can exploit when institutional controls lag behind evolving digital behaviour. The Central Bank of Iraq reports that some transaction flows

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5 hours ago5 min read

Iraq’s Central Bank Warns of Expanding Financial Crime Risks Fueled by Influencer Activity

Iraq’s financial regulators are raising alarms over a growing trend in which social-media personalities are being leveraged as tools for illicit financial transfers. According to officials, the combination of online visibility, rapid audience engagement, and loosely monitored revenue channels has created conditions that criminal groups can exploit when institutional controls lag behind evolving digital behaviour. The Central Bank of Iraq reports that some transaction flows

BetMGM Hit with $50,000 Penalty Over Illegal College Prop Bets in Colorado

Colorado’s gaming authorities have issued a $50,000 fine against BetMGM after determining that the sportsbook violated state regulations by accepting wagers on individual student-athlete performance, a betting category explicitly banned under Colorado law. The New Jersey-based operator notified regulators of the issue itself, revealing 48 prohibited bets placed on NCAA basketball and football events between March 2023 and October 2024. The unlawful wagers involved two men

European Regulators Unite to Intensify Fight Against Illegal Online Gambling

Seven of Europe’s leading gambling authorities have committed to deeper collaboration in an effort to curb the accelerating spread of illegal online gambling, cautioning that rapidly evolving digital ecosystems are enabling unlicensed operators to slip past national regulatory systems. Representatives from Germany, Austria, France, the United Kingdom, Italy, Portugal, and Spain cemented this alliance during a meeting held on 12 November 2025 at Spain’s Directorate General for

SEC Ends Legal Battle Against SolarWinds After Prolonged Cybersecurity Investigation

The U.S. Securities and Exchange Commission (SEC) has formally withdrawn its lawsuit against SolarWinds and the company’s chief information security officer, bringing an end to a high-profile case that centered on allegations the firm misled investors about its security posture prior to the major 2020 supply chain breach. A joint motion submitted on November 20, 2025, by the SEC, SolarWinds, and CISO Timothy G. Brown requested the court to voluntarily dismiss the action. In

Paragon Industries CEO Accused of Orchestrating $66 Million Federal Wire Fraud Scheme

Federal prosecutors in the Southern District of New York have brought a wire fraud charge against 53-year-old Derek Wachob, the chief executive of Sapulpa, Oklahoma-based steel pipe manufacturer Paragon Industries, alleging his involvement in a 66 million dollar scheme. An indictment unsealed on November 18 claims that between October 2022 and August 2024, Wachob directed a fraudulent operation that targeted individual investors, a bank, an investment firm, and at least two

Turkish Probe Highlights Alleged Laundering Through Licensed Fintech and Insurance Firms

Turkish investigators are scrutinising how a licensed electronic money institution and an associated insurance company allegedly enabled criminal proceeds from illegal betting operations to seep into the country’s financial system. The inquiry centres on corporate entities tied to fintech entrepreneur Ozan Özerk, whose broader business network includes firms previously connected to payment streams linked to a sprawling online fraud operation exposed by investigative journalis

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