Twelve arrested in Italy as authorities probe illegal gambling and laundering operation

Regulatory Watch News

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  Italy: EPPO seizes assets in investigation into EU funding fraud involving ceramic production

  European Public Prosecutor's Office

  April 30, 2025

  (Luxembourg, 30 April 2025) – At the request of the European Public Prosecutor’s Office (EPPO) in Palermo (Italy), a freezing order of €800 000 was issued against five individuals and one company suspected of EU funding fraud involving ceramic production. The Italian Financial Police (Guardia di Finanza) of Sant’Agata di Militello subsequently seized real estate, bank accounts and cash found in the possession of the suspects.

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  EFCC Charges Banks on Improved KYC, Enhanced Collaboration

  EFCC

  April 30, 2025

  The Economic and Financial Crimes Commission,  EFCC , has called on financial institutions across the country to strengthen their collaboration with the Commission towards ridding the nation  of economic and financial crimes and other acts of corruption. This charge was given on Tuesday, April 29, 2025  in Port Harcourt, Rivers State by the Acting Zonal Director of EFCC, Assistant Commander of the EFCC, ACE1 Adebayo Adeniyi while addressing bank compliance officers. He admonished them to always carry out their duties of  conducting Customer Due Diligence and Know your Customers in order to strengthen the fight against corruption.

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  Treasury Targets Network Procuring Missile Propellant Ingredients for Iran

  OFAC

  April 29, 2025

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating six entities and six individuals based in Iran and the People’s Republic of China (PRC) for their role in a network procuring ballistic missile propellant ingredients on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC).  This network has facilitated the procurement of sodium perchlorate and dioctyl sebacate from the PRC to Iran.  Sodium perchlorate is used to produce ammonium perchlorate, which is controlled by the Missile Technology Control Regime (MTCR), a multilateral political understanding among states that seek to limit the proliferation of missiles and missile technology.  Both ammonium perchlorate and dioctyl sebacate are chemicals usable in solid propellant rocket motors, which are commonly used for ballistic missiles.