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NEWS: FCA ramps up fincrime efforts, filing record number of criminal charges

Premium September 6, 2024

FCA: Nikhil Rathi, the regulator’s chief executive, said it was aiming to balance its crackdown on financial wrongdoing with encouraging innovation and growth. “If we want the UK to maintain its international competitive edge, then we need to be bold and accept that we will not, nor should we try to, stop every failure,” he said in the FCA’s annual report, published on Thursday.

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NEWS: UK as a money laundering hub: Estimated £100bn a year funnelled through the nation

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NEWS: Report – Killing of ‘Ndrangheta figure sows uncertainty among Inter Milan ultras

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OPINION: Why Egmont must be transparent and tell us rationale behind reported move to Qatar

By AML Intelligence Correspondent The UK’s Financial Conduct Authority (FCA) is ramping up its efforts to tackle financial crime, filing a record number of criminal charges against individuals and significantly increasing the number of firms stripped of regulatory approval. The FCA’s latest annual report reveals that while enforcement activity has surged, fines collected dropped to…

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Premium

NEWS: UK as a money laundering hub: Estimated £100bn a year funnelled through the nation

 Premium

NEWS: Report – Killing of ‘Ndrangheta figure sows uncertainty among Inter Milan ultras

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OPINION: Why Egmont must be transparent and tell us rationale behind reported move to Qatar

Regulatory Watch News

  • CBUAE imposes a financial sanction on a bank operating in the UAE

    CBUAE

    Abu Dhabi (16 September 2024): The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank operating in the UAE, pursuant to articles 89 and 137 of the Federal Decree Law No. (14) of 2018 regarding the Central Bank & Organisation of Financial Institutions and Activities and its amendments, and article 14 of the Federal Decree Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations. The CBUAE has fined the bank AED 5 million, and directed the bank to present the Central Bank's action to the board of directors of the overseas headquarters.

  • Ismael “El Mayo” Zambada Garcia, Co-Founder of the Sinaloa Cartel, Arraigned in Brooklyn on International Drug Charges

    US Department of Justice

    Defendant Allegedly Led the Sinaloa Cartel with Joaquin “El Chapo” Guzman Loera for Decades and Continued for Years Since El Chapo’s Arrest

    Ismael “El Mayo” Zambada Garcia, 76, a citizen of Mexico, was arraigned this morning in federal court in Brooklyn, New York, on 17 counts related to drug trafficking, firearms offenses, and money laundering. This fifth superseding indictment relates to El Mayo’s decades-long leadership of the Sinaloa Cartel, one of the most violent and powerful drug trafficking organizations in the world and conspiracy to manufacture and distribute fentanyl. El Mayo was previously charged with running a continuing criminal enterprise, as well as murder conspiracy, money laundering conspiracy, cocaine, heroin, methamphetamine, and marijuana manufacture and distribution conspiracy, as well as other drug-related crimes.

  • Cryptocurrencies and financial crime: a strategic approach to ensure security

    Europol

    Investing in preventing and combating the misuse of the crypto ecosystem for financial crime is vital to safeguard both national and international security. This was a resounding message arising from the 8th Global Conference on Criminal Finances and Cryptocurrencies, which concluded on 12 September 2024 after two days of intense discussions and updates from leading voices in the field. The two-day hybrid conference attracted over 1,000 participants, including key stakeholders from the private sector, law enforcement, government bodies, intergovernmental organisations, academia and civil society.

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