NEWS: Citigroup finally cleared by U.S. Fed in 11 year old AML enforcement case

Regulatory Watch News

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  Germany: Members of criminal organisation convicted for €24 million VAT fraud involving simulated export of cars

  European Public Prosecutor's Office

  April 11, 2025

  (Luxembourg, 11 April 2025) – Three perpetrators of a €24 million VAT fraud involving simulated exports of cars were convicted yesterday by the Hagen District Court in Germany, following an investigation carried out by the European Public Prosecutor’s Office (EPPO) in Cologne. The three, who were accused of being the ringleaders of a criminal organisation dedicated to car sales and systematic evasion of VAT, were sentenced to five years and nine months (reduced by three months, considered as served), three years and nine months and one year and nine months in prison.

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

  HKMA

  April 11, 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.

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  US national charged over 17kg of meth allegedly found inside lost luggage

  Australia Federal Police

  April 11, 2025

  A US national is expected to appear before Downing Centre Local Court today (11 April, 2025) charged with allegedly importing 17kg of methamphetamine into Australia. The AFP charged the woman, 50, yesterday (10 April, 2025) after a plea to help find her lost luggage at Sydney Airport resulted in the discovery of the alleged illicit drugs. The investigation began after the woman approached airline staff on arrival from San Francisco, claiming she could not locate her bag.