INSIGHT: The SEC’s latest fine shows why banks shouldn’t put their Chief Compliance Officer in charge of AML

Regulatory Watch News

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  Financial sanctions update: Global Anti-Corruption

  OFSI

  November 21, 2024

  On 21 November 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entries have been added under the Global Anti-Corruption financial sanctions regime and are now subject to an asset freeze:

  • Isabel Dos Santos (Group ID: 16694)
  • Dmitry Vasylovych Firtash (Group ID: 16699)
  • Lada Pavlovna Firtash (Group ID: 16700)
  • Denis Vladimirovich Gorbunenko (Group ID: 16701)
  • Liga Lemberga (Group ID: 16698)
  • Aivars Lembergs (Group ID: 16697)
  • Paula Cristina Fidalgo Carvalho Das Neves Oliveira (Group ID: 16696)
  • Sarju Raikundalia (Group ID: 16695)

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  Austria: 15 arrests in €3.5 million fraud investigation involving RRF funds

  European Public Prosecutor's Office

  November 21, 2024

  (Luxembourg, 21 November 2024) – This week (19 November), at the request of the European Public Prosecutor’s Office (EPPO) in Vienna and Graz (Austria), the Vienna Criminal Police (Landeskriminalamt Wien) arrested 15 suspects and carried out 37 searches in Vienna and its surroundings. On the radar of the EPPO are several criminal organisations that are suspected of defrauding over €3.5 million from the so-called ´Reparaturbonus´ (´Repair Bonus´) programme financed by the EU via the Recovery and Resilience Fund (RRF). The ´Reparaturbonus´ is an initiative of the Austrian government, which promotes and incentivises the repair of electronic devices and household appliances. Its purpose is to encourage sustainability, reduce electronic waste and support local repair business.

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  NCA arrest man in Wolverhampton as part of operation to take down Europe-wide people smuggling gang

  National Crime Agency

  November 21, 2024

  The National Crime Agency has participated in a major international operation targeting a Syrian organised crime group considered one of Europe's most significant people smuggling networks. The German-led investigation against the group, supported by the NCA and co-ordinated through Europol and Eurojust, has so-far seen at least 20 people arrested in a series of raids across the continent on Wednesday 20 November.