NEWS: India financial watchdog imposes $2.25 million penalty on Binance

Regulatory Watch News

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  Man who created ‘one-stop shop for phishing’ jailed

  The Crown Prosecution Service

  April 14, 2025

  A man responsible for running a global phishing service, used by scammers to trick people into handing over their details, has been jailed. Zak Coyne, 24, used his technical expertise to facilitate extensive fraudulent conduct worldwide by creating and running a subscription-based service for fraudsters via a website called LabHost. Coyne, of Huddersfield, appeared in Manchester Minshull Street Crown Court on 14 April 2025 after previously pleading guilty to making or supplying articles for use in fraud, encouraging or assisting the commission of an offence and transferring criminal property.

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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.