Tag: France

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JPMorgan Chase fined €25 Million in connection with long-standing tax fraud case

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Tracking the dirty money from drug trade a main priority for French FIU

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FRANCE: Insurance companies more likely to face AML inspections this year as French authorities step up action on dirty money

EUROPOL: Authorities intercept two separate criminal laundering networks; multiple arrests and millions in assets seized

FRANCE: Tougher regulations and increased monitoring on the cards for French businesses as new AML plan published

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UBS may use separate laundering case as evidence of double standard and argue for reduction or dismissal of record €4.5BN fine

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#OPENLUX: Secrets of Luxembourg’s lucrative tax haven practices revealed – and just how businesses and tycoons in France benefit the most

France deems KYC procedures compulsory for all cryptocurrency transactions

France announces strict cryptocurrency KYC rules to fight money laundering and terrorist financing

Memorandum of Understanding between OFAC and the Swiss State Secretariat for Economic Affairs
OFAC
May 16, 2025
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published its Memorandum of Understanding with Switzerland's State Secretariat for Economic Affairs (SECO).
Crime group used light aircraft to smuggle cocaine haul to UK
National Crime Agency
May 16, 2025
A qualified pilot used his light aircraft in a bid to smuggle cocaine into the UK. Pilot Anastasios Balian, 52, and accomplice Errol McCardo Weir, 48, admitted trying to bring 30kg of the Class A drug into the country, following a National Crime Agency investigation. On 20 March this year, they were stopped by Border Force officers at North Weald airfield in Epping, Essex, after landing from Belgium via Calais. Officers searched the small plane and discovered a concealment had been built into the rear seats. Inside it were 30 1kg blocks of cocaine with a street value of about £2.4m.
£2m fine for online operator Spreadex Limited
Gambling Commission
May 16, 2025
A gambling business will pay a £2,022,000 penalty after a Gambling Commission investigation revealed Anti-Money Laundering (AML) and social responsibility failings.
Spreadex Limited – which operates from Spreadex.com – will also have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls. The failures were revealed during a compliance assessment in July 2023 and relate to the operator’s Gambling Commission licence to offer casino and fixed odds betting.