New Zealand’s financial regulator is not happy with the number of “basic” AML shortcomings that are still occurring across the country’s institutions.
This is despite the fact that robust laws governing anti-money laundering measures have been in place in the Pacific nation for nearly a decade.
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Investigation cluster Midas: Additional conviction for VAT fraud in Germany
European Public Prosecutor's Office
(Luxembourg, 28 May 2025) – The European Public Prosecutor’s Office (EPPO) in Munich (Germany) has secured another conviction in the EPPO investigation cluster Midas, a large-scale VAT fraud case spanning 17 countries and involving an estimated damage of €195 million.
Last week (20 May), the Landshut Regional Court (Landgericht Landshut) sentenced one individual for VAT fraud. The convicted was involved in fraudulent trading of protective face masks, exploiting VAT rules to evade tax payments. His action resulted in an estimated VAT loss of around €600 000. The court sentenced him to one year and 10 months of imprisonment on probation, ordering the confiscation of € 600 000.
7 entries amended under the Russia Sanctions Regime
UK Government
Today, Wednesday 28 May, the UK Government made 7 administrative amendments to the following individual and entities under the Russia Sanctions Regime.
Individual:
GRECO recommends Anti-Corruption Reforms for Liechtenstein’s Government, Police, and Head of State
GRECO
The Council of Europe’s Group of States against Corruption (GRECO), in a report published today, calls on Liechtenstein to take further steps to prevent corruption among persons with top executive functions (PTEFs), including members of government, the Government Secretary, Secretaries General and Senior Political Advisors, as well as members of the National Police. The report also covers the Reigning Prince, who contributes to executive decision-making under the Constitution.