AT A GLANCE: The 27 major changes contained in Europe’s new AML laws

Regulatory Watch News

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  Alleged N5.78bn Fraud: Another Witness Confirms Ex-Governor Ahmed’s Kwara UBEC Loan

  EFCC

  April 14, 2025

  The Sixth Prosecution Witness, PW6, Suleiman Oluwadare Ishola in the ongoing trial of the former governor of Kwara State, Abdulfatah Ahmed, and his former Commissioner for Finance, Ademola Banu, has corroborated the testimonies of earlier witnesses that the Ahmed’s administration borrowed the funds of Kwara State’s Universal Basic Education Commission, UBEC to offset backlog salaries of workers and pensioners in the state.

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  Investigation Cuba: EPPO secures another conviction in €100 million VAT fraud involving Voice over IP

  European Public Prosecutor's Office

  April 14, 2025

  (Luxembourg, 14 April 2025) – The European Public Prosecutor’s Office (EPPO) in Munich (Germany) has secured another conviction in an investigation into a large-scale VAT fraud involving the sales of Voice over IP (VoIP), with an estimated damage of €100 million. This is the third conviction in this investigation into a criminal network dedicated to fraudulent trading of VoIP, code-named Cuba. 

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  Fraudulent websites and internet banking login screens related to Shanghai Commercial Bank Limited

  HKMA

  April 14, 2025

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Shanghai Commercial Bank Limited relating to fraudulent websites and internet banking login screens, which have been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.