Category: AML

Regulatory Watch News

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  Legislation to strengthen Australia’s anti-money laundering and counter-terrorism financing regime has passed Parliament

  Austrac

  November 29, 2024

  AUSTRAC welcomes the passage of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Bill 2024 through Parliament. This is a significant milestone and sends a clear message that Australia is committed to ensuring its AML/CTF regime can more effectively deter, detect and disrupt money laundering and terrorism financing.

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  Company director jailed for a £3 million money laundering operation

  The Crown Prosecution Service

  November 28, 2024

  A company director has been jailed for his key role in a £3 million money laundering operation. Ranbir Singh, 46, pleaded guilty to two counts of money laundering and has been sentenced to six years imprisonment. Kuldip Badesha, 46, Singh’s wife, pleaded guilty to one count of misconduct in public office and has been sentenced to 14 months imprisonment suspended. Both defendants were dealt with at Southwark Crown Court.

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  Romania: EPPO carries out searches in probe into €37 million road works

  European Public Prosecutor's Office

  November 28, 2024

  (Luxembourg, 28 November 2024) – The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca (Romania) is carrying out 31 searches today in several locations, in an investigation into possible fraud involving works in Zalău city’s ring road, financed with €37 million in EU funds. The searches are being conducted in Bucharest, Cluj county, Sălaj county and Timișoara county, at the homes and headquarters of companies under investigation, including at the National Highways and National Roads Company (Compania Națională de Autostrăzi și Drumuri Naționale SA – CNAIR), responsible for administering the network of highways, express roads and roads of national interest in Romania.