NEWS: FATF President – police have to seize stolen funds before criminals move them

Regulatory Watch News

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  SEC Charges Olayinka Oyebola and His Accounting Firm With Aiding and Abetting Massive Fraud

  SEC

  September 30, 2024

  Washington D.C., Sept. 30, 2024 —

  The Securities and Exchange Commission today charged Olayinka Oyebola and his Public Company Accounting Oversight Board-registered accounting firm, Olayinka Oyebola & Co. (Chartered Accountants), with aiding and abetting a massive securities fraud perpetrated by Mmobuosi Odogwu Banye, also known as Dozy Mmobuosi, and three related U.S. companies that Mmobuosi controlled (the Tingo entities). The SEC recently obtained a $250 million final judgment against Mmobuosi and the Tingo entities.

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  UK law enforcement works with Bulgarian authorities to stop hundreds of boats and engines destined for people smugglers

  National Crime Agency

  September 30, 2024

  National Crime Agency officers have led a law enforcement partnership with the Bulgarian authorities to prevent hundreds of boats, engines and other pieces of maritime equipment reaching the hands of people smugglers. For the last 12 months the NCA, alongside the Home Office and FCDO, have worked closely with the Bulgarian National Customs Agency and Bulgarian Border Police, sharing intelligence and mounting joint operations targeting the criminal supply chain.

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  FCA and PRA appoint new Chair of the FSCS

  Financial Conduct Authority

  September 30, 2024

  The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have appointed Elizabeth Passey as Chair of the Financial Services Compensation Scheme’s (FSCS) board. She will take up the role on 1 October 2024. Over a 30-year career, Elizabeth held senior positions with J Stern & Company, Investec Asset Management and Morgan Stanley. She recently completed 2 terms as Chair of the Rural Payments Agency, and as convener of the University of Glasgow.