NEWS: Malta bank owned by Dutch billionaire fined €89K for AML shortcomings

Regulatory Watch News

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  Lietuvos bankas revoked UAB Foxpay licence due to serious and systematic breaches

  Lietuvos Bankas

  November 25, 2024

  Lietuvos bankas revoked the electronic money institution licence of UAB Foxpay (hereinafter, Foxpay) for serious and systematic breaches of legal acts regulating the prevention of money laundering and terrorist financing, safeguarding of client funds and other legislation. Following the decision, Foxpay can no longer provide financial services. More: https://www.lb.lt/en/news/lietuvos-bankas-revoked-uab-foxpay-licence-due-to-serious-and-systematic-breaches

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  Adamawa Courts Jail Twelve Internet Fraudsters

  EFCC

  November 25, 2024

  Justices  Kayanson Samuel Lawanson,   Hammed Isha ,  Benjamin Manji Lawal and Mohammed Ibrahim Tola of the Adamawa State High Court, Adamawa State have  convicted and sentenced twelve  internet fraudsters to various jail terms. They were separately  arraigned between November  6 and 7, 2024  on a one count charge of cheating and impersonation by the Gombe Zonal Directorate of the EFCC.

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  Financial sanctions update: Russia

  OFSI

  November 25, 2024

  On 25 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 to the Russia financial sanctions regime and are now subject to an asset freeze and trust services sanctions:

  • ALFASTRAKHOVANIE PLC (Group ID: 16702)
  • VSK (Group ID: 16703)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.