Category: AML

Regulatory Watch News

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  400 companies part of EUR 297 million VAT fraud network

  Europol

  November 28, 2024

  Europol has supported the European Public Prosecutor’s Office (EPPO) and law enforcement authorities from 16 countries in taking down a major criminal network involved in value-added tax (VAT) fraud. The international investigation, codenamed Admiral 2, uncovered a complex VAT fraud scheme involving the trade of popular electronic goods, resulting in an estimated VAT loss of EUR 297 million. During the action day, 32 people were detained, and authorities seized a large quantity of smartphones and other electronic devices, worth more than EUR 47.5 million, several luxury cars and EUR 126 965 in cash. In addition, 62 bank accounts with a combined value of over EUR 5.5 million were frozen. These are preliminary results and they will likely evolve throughout the coming days and weeks.

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  Beware of Black Friday and Cyber Monday scams

  Australia Federal Police

  November 28, 2024

  Online shoppers are being urged to be extra vigilant of cyber criminals ramping up fake text messages to scam unwitting Australian victims ahead of one of the biggest global retail sales events of the year. The AFP is warning potential victims over the increased likelihood of cyber criminals aiming to exploit Black Friday and Cyber Monday shoppers by impersonating legitimate retailers along with postal and delivery services via phishing text message scams, likely generated using artificial intelligence (AI).

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  U.S. Attorney Announces Cocaine Importation Charges Against Chief Superintendent Of Royal Bahamas Police Force And Other Bahamian Officials

  United States Attorney Office -Southern District of New York

  November 27, 2024

  Damian Williams, the United States Attorney for the Southern District of New York, and Anne Milgram, the Administrator of the U.S. Drug Enforcement Administration (“DEA”), announced the unsealing of an Indictment charging 13 defendants with cocaine importation and related weapons offenses in connection with their participation in a massive cocaine importation conspiracy enabled by corrupt Bahamian government officials, including high-ranking members of the Royal Bahamas Police Force (“RBPF”). ELVIS NATHANIEL CURTIS, an RBPF Chief Superintendent, and DARRIN ALEXANDER ROKER, a Chief Petty Officer in the Royal Bahamas Defence Force (“RBDF”), were arrested on Monday in Florida and had their initial appearances yesterday afternoon in the U.S. District Court for the Southern District of Florida.  LORIELMO STEELE-POMARE, a/k/a “Steele” and WILLIAM SIMEON, a/k/a “Harvey Smith,” a/k/a “William Jacques,” a/k/a “Romeo Russell,” a/k/a “Dario Rolle,” were arrested overseas on Monday.  LUIS FERNANDO OROZCO-TORO was arrested overseas yesterday.  The case has been assigned to U.S. District Judge Gregory H. Woods.