NEWS: Singapore unveils new National AML Strategy, pledges to ‘strictly’ oversee cross-border transactions

Regulatory Watch News

• 

  Victorian woman sentenced for defrauding the ATO of $452,000

  Australia Federal Police

  November 21, 2024

  This is a joint media release between the Australian Federal Police and the Australian Taxation Office as part of the Serious Financial Crime Taskforce A Victorian woman was sentenced yesterday (20 November, 2024) to three years and six months’ imprisonment, with a non-parole period of 20 months, for defrauding the Australian Taxation Office (ATO) of $452,000 and attempting to swindle a further $245,000 across a 15-month period.

• 

  Laboratory Owner Charged for $79M Fraud Scheme

  US Department of Justice

  November 20, 2024

  The owner and operator of a Texas laboratory was charged yesterday in connection with his role in a $79 million respiratory pathogen panel (RPP) testing fraud scheme. According to court documents, Osman Syed, 34, also known as Syed Osman, an Indian national, caused BioDX Labs LLC (BioDX) to submit more than $79 million in fraudulent claims to Medicare and Texas Medicaid for RPP tests that were not provided and were medically unnecessary. Osman used the personal identifying information of a physician, without the physician’s knowledge or consent, to cause the submission of millions of dollars in claims to Medicare and Medicaid for RPP tests for beneficiaries and recipients, even though the physician had no prior relationship with the beneficiaries and recipients, was not treating the beneficiaries and recipients for respiratory symptoms, and did not use the tests to treat the beneficiaries and recipients.

• 

  JCO KHIONE: OLAF and EU Customs Authorities crack down on illegal trade in refrigerant gases

  OLAF

  November 20, 2024

  The European Anti-Fraud Office (OLAF) led Joint Customs Operation KHIONE aimed at disrupting the illegal trade in refrigerant gases smuggled into the European Union. The operation, which ran from May to October 2024, resulted in the successful interception of the equivalent of more than 400,000 tons of CO2 and prevented the total market loss of over 4.5 million euro.