JAILED: 'Super cartel' member Ridouan Taghi was jailed for life in the Netherlands after being extradited from UAE. Masked and armed police surrounded the courthouse, known as the Bunker, in an Amsterdam suburb as the judges, who were not named and whose faces were hidden from view, read out the sentences. Drones and a police helicopter circled overhead. It was yet another example of the creeping influence and danger posed by transnational organised crime across the globe.
THE unprecedented warning from some of the world’s most influential organisations that international AML measures have to be tightened is no routine advisory – it should be taken as a blaring siren signalling the need for urgent reform.
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FCA seeks further views on stablecoins and crypto custody
Financial Conduct Authority
The latest milestone on the road to crypto regulation, the proposals are the result of extensive engagement through roundtables and feedback on previous discussion papers.
Stablecoins are cryptoassets that aim to maintain a stable value by referencing 1 or more fiat currencies. Stablecoins have the potential to drive efficiency in payments and settlement using blockchain technology, with particular benefits for cross-border transactions. The FCA’s proposed rules aim to ensure regulated stablecoins maintain their value. They also mean that customers should be provided with clear information on how the backing assets are being managed.
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: