News articles on Black Market Activities

Archive for the ‘Financial Crime’

Calderon promises to clean own house

Mexico President Felipe Calderon is continuing to promise that he will clean up his own government after several high profile officials were found to have been taking money from drug cartels. From the AP (via Google News): Calderon’s sweeping crackdown on powerful drug cartels has in recent weeks been shaken by a nationwide corruption scandal. The government revealed [...]

Former Mexico Drug Czar arrested for helping drug smugglers

The former Drug Czar in Mexico was arrested on suspicion that he accepted $450,000 a month from drug smugglers. From CNN: Mexican authorities have detained the country’s former drug czar on suspicion that he may have accepted $450,000 a month in bribes from drug traffickers, Mexico’s attorney general said Friday. Noe Ramirez Mandujano was in charge from 2006 [...]

Loan sharks in Italy busy with business

Loan sharks in Italy are booming with business as people take out loans at high rates to deal with the economic downturn. From the Chicago Tribune: The worldwide economic downturn has opened the door for loan sharks to burrow ever deeper into Italy’s vulnerable economy by preying on businesses that need quick cash and credit, according to [...]

Britian to crack down on corruption

New laws proposed by UK officials aims to strengthen the countries anti-corruption laws. From the AP (via Google News): Employers who turn a blind eye to corruption face up to 10 years in jail as part of a radical overhaul of Britain’s bribery laws proposed by the British Law Commission on Thursday. The commission, the government’s law reform [...]

Mexico liaison to Interpol placed under house arrest

Mexico’s Liaison to Interpol was placed under house arrest for his ties to drug cartels. From the AP (via Google News): A top police official who worked as Mexico’s main liaison with Interpol was placed under house arrest as part of an investigation into leaks of information to drug cartels, prosecutors said Tuesday. The arrest of Ricardo Gutierrez [...]

Former President of Taiwan detained for corruption

The Former President of Taiwan was detained by police for corruption. From the IHT: Chen Shui-bian, the former president of Taiwan, was detained by the police in Taipei on Tuesday after prosecutors sought his formal arrest on corruption and money laundering charges, according to Taipei television. Chen, who served as president from 2000 until earlier this year and headed [...]

“America’s Sheriff” stands trial for corruption

A man once dubbed “America’s Sheriff” is standing trail on charges of corruption. From the AP (via Google News): A former Orange County sheriff was a sharp, inspiring leader consumed by greed and adept at manipulating his closest co-workers and friends to benefit himself, a prosecutor said Wednesday as the lawman’s federal corruption trial began. The government alleges [...]

Recession hits identity theives

Personal data in the black market is facing a recession as prices for individual information spiral downwards. From Newsweek: Your personal identity isn’t worth quite as much as it used to be—at least to thieves willing to swipe it. According to experts who monitor such markets, the value of stolen credit card data may range from $3 to [...]

Coins trading on the black market in Argentina

Regular coins are being traded on the black market in Argentina as citizens fight inflation at record levels. From the AP (via the IHT): A kiosk owner bribes a bank worker with cookies to break bills. Subway workers let commuters ride free because they can’t change their cash. Bus companies resell the coins they collect at a [...]

Vietnam Reporter jailed for exposing corruption

A Vietnamese reporter has been sentenced to 2 years in prison for writing a report on a corruption scandal in Vietnam. From the Washington Post: A court in Vietnam has handed down a two-year prison sentence to a journalist who exposed a scandal involving Transport Ministry officials siphoning off aid money, in part to bet on European [...]