NEWS: Canada’s TD Bank expects to be hit with fines and other penalties by the US over its AML compliance

Regulatory Watch News

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  Financial sanctions update: Counter-Terrorism (Domestic)

  OFSI

  December 3, 2024

  1 entry has been added to the consolidated list under the Counter-Terrorism (Domestic) regime. On 3 December 2024, pursuant to The Counter-Terrorism Regulations, HM Treasury designated the following individual, who is now subject to an asset freeze:

  • Brian Anthony Sheridan (Group ID: 16705)

  This action is the third use of the Treasury-led domestic counter terrorism regime, used to target those who it has reasonable grounds to suspect are involved in terrorist activity.

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  Drug cartel grind to a halt with six major arrests in Colombia

  Europol

  December 3, 2024

  In a long-term investigation supported by Europol, law enforcement authorities from Belgium, Colombia and Spain have dismantled a drug ring orchestrating large-scale cocaine trafficking from Colombia to the EU. The national authorities involved arrested 32 individuals in total, including the leader of the network. Law enforcement also seized 5.8 tonnes of cocaine in Colombia (Cartagena and Baranquilla) and on European soil in Spain (Barcelona and Valencia) and Belgium (Antwerp). The sting was coordinated by Europol’s Operational Taskforce.

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  EFCC Makes Single Largest Asset Recovery till Date

  EFCC

  December 3, 2024

  Justice Jude Onwuegbuzie, on Monday,  December 2, 2024 gave a ruling on a final forfeiture of an estate in Abuja  measuring 150,500 square metres and containing 753 Units of duplexes and other apartments.  This is the  single largest  asset recovery by the Economic and Financial Crimes Commission, EFCC, since its inception in 2023.   The Estate rests on on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja The forfeiture of the property to the federal government by a former top brass of the government was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities. In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.