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Regulatory Watch News

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  First General Board meeting of AMLA takes place in Frankfurt

  AMLA

  March 13, 2025

  The first General Board meeting of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism was chaired by Bruna Szego on Tuesday, 11 March 2025. This Tuesday (11 March 2025) the AMLA General Board came together for the first time under the Chairpersonship of Bruna Szego, the agency’s first Chair. The meeting was an occasion for the Member States representatives to start working together in AMLA and to adopt the rules of procedure for AMLA’s General Board. It represents a further step in formalizing the governance structure of AMLA. 

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  Fraudulent websites and internet banking login screens related to China Construction Bank (Asia) Corporation Limited

  HKMA

  March 13, 2025

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China Construction Bank (Asia) Corporation 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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  Florida Businessman Patrick Walsh and Affiliated Companies Agree to $20M Consent Judgment to Settle False Claims Act Liability Relating to Fraudulent Pandemic Relief Loans

  US Department of Justice

  March 12, 2025

  Patrick Walsh and 10 companies he owned or operated have agreed to enter into a consent judgment totaling $20,074,458.70 to resolve allegations that they violated the False Claims Act by knowingly providing false information in support of Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) loan applications. The 10 companies for which Walsh obtained fraudulent loans include American Blimp Company LLC; Walsh Family Land Corp.; Airsign Inc.; Airsign Airship Group LLC; Airsign Group LLC; Airsign Airships Latin America LLC; Airsign Airships Asia Pacific LLC; Airsign Airships Repair Station LLC; Aero Capital LLC; and Eagle Ridge Management Group LLC doing business as Shiloh Oil Company.