Category: AML

Regulatory Watch News

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  Lithuania: EPPO uncovers €6 million EU subsidy fraud involving organised crime

  European Public Prosecutor's Office

  January 16, 2025

  (Luxembourg, 16 January 2025) – An organised crime group suspected of misappropriating nearly €6 million in EU structural funds for innovative manufacturing solutions, such as recycled plastics and green concrete, has been the target of large-scale investigative measures led by the European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania), since early December 2024.

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  Website Alert – Fraudulent website related to The Hongkong and Shanghai Banking Corporation Limited

  HKMA

  January 16, 2025

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by The Hongkong and Shanghai Banking Corporation Limited relating to a fraudulent website, which has been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.

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  Four indicted in conspiracy to commit bank fraud and money laundering schemes involving more than $128 million in criminal proceeds

  IRS Criminal Investigation

  January 15, 2025

  Tampa, FL — United States Attorney Roger B. Handberg announces the unsealing of an indictment charging Daniel Liburdi (Miami), Joseph Scotto (Bay Shore, NY), Gregory Walker (Ontario, Canada), and Frank Carbone III (Orlando) with conspiracy to commit bank fraud and conspiracy to commit money laundering. Liburdi and Carbone III are also charged with bank fraud. Each bank fraud and conspiracy to commit bank fraud offense carries a maximum penalty of 30 years in federal prison. The conspiracy to commit money laundering offense carries a maximum penalty of 20 years in federal prison. The indictment also notifies the defendants that the United States intends to forfeit three residences in Miami Beach, and one in the U.S. Virgin Islands, which are alleged to be traceable to proceeds of the offense. In addition, the government is seeking an order of forfeiture in the amount of $128,144,908.66.