Category: Fraud

Regulatory Watch News

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  Andrea Enria appointed to the Prudential Regulation Committee

  Bank of England

  January 28, 2025

  Andrea Enria, former Chair of the European Central Bank’s supervisory board, has today been appointed to the Prudential Regulation Committee by the Governor of the Bank of England, Andrew Bailey. Andrea brings a wealth of experience to this role, having previously served as chair of the European Central Bank’s Single Supervisory Mechanism, and also having served as the Chair of the European Banking Authority.

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  Innovations with potential money laundering risks

  BaFin

  January 28, 2025

    Technological innovations in the financial market may increase the risk of money laundering. This is the case, for example, with cryptoassets: they are challenging to handle and can be structured in many ways, making transparency more difficult. As of 30 December 2024, obliged entities must meet specific obligations for cryptoasset transfers. These requirements are set out in the revised European Funds Transfer Regulation, which has replaced the German Crypto Asset Transfer Regulation (Kryptowertetransferverordnung).

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  Lithuania: EPPO secures four convictions in €10 million tobacco smuggling scheme

  European Public Prosecutor's Office

  January 28, 2025

  (Luxembourg, 28 January 2025) – The European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania) has secured four convictions, including of two former customs officers, following an investigation into an organised crime group found to have evaded nearly €10 million in import, customs and excise taxes by smuggling cigarettes.