NEWS: Singapore subsidiary of Citigroup and CIMB Group Holdings affected in billion-dollar laundering raid

Regulatory Watch News

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  OFSI Legal Services Threat Assessment Report published

  OFSI

  April 3, 2025

  Today, OFSI published its Legal Services Threat Assessment Report. The report identifies key evasion threats, red flags that businesses should be aware of, and observations on areas where compliance could be strengthened. 

  This is the second in a series of Threat Assessment Reports OFSI have produced.

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  Latvia: Mayor of Jēkabpils and other public officials detained in probe into €16.9 million dam

  European Public Prosecutor's Office

  April 3, 2025

    (Luxembourg, 3 April 2025) – On behalf of the European Public Prosecutor’s Office (EPPO) in Riga (Latvia), the Corruption Prevention and Combating Bureau (KNAB) carried out searches today and detained five suspects, including the mayor of Jēkabpils, other public officials and representatives of private companies, in a probe into the construction of a €16.9 million anti-flooding dam, co-funded by the EU.

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  Alleged $9.6b P&ID Scam : EFCC Tenders more Evidence against Kore Holdings

  EFCC

  April 3, 2025

  The Economic and Financial Crimes Commission, EFCC  on Wednesday, April 2, 2025 tendered additional evidence against Kore Holdings Limited before Justice J. O. Abdulmalik of the Federal High Court Abuja. The Commission is prosecuting the company alongside Muhammed Kuchazi (now deceased) in connection with the Process & Industrial Development, P&ID fraud portfolio on amended four-count charges that border on non-compliance with Federal Ministry of Industry, Trade and Investment requirements, money laundering and other illegal acts.