Tag: Money laundering

Regulatory Watch News

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  Israeli Freight Forwarder Sentenced to Two Years in Prison for Violating Export Restrictions Imposed on Russia

  US Department of Justice

  February 21, 2025

  Gal Haimovich, 49, of Israel, was sentenced today to 24 months in prison and three years of supervised release for conspiracy to illegally ship aircraft parts and avionics from U.S. manufacturers and suppliers to Russia, including for the benefit of sanctioned Russian airline companies. In addition, Haimovich paid the full forfeiture amount of $2,024,435.44 at today’s sentencing.

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  FATF Advances Work Combatting Proliferation Financing, Reaffirms Countermeasures Against Iran

  FATF

  February 21, 2025

  PARIS – Today, the Financial Action Task Force (FATF)—the global standard-setting body for anti-money laundering, countering the financing of terrorism, and proliferation of weapons of mass destruction—concluded a plenary in which representatives from the Department of the Treasury participated. During the plenary—the second under the Mexican presidency—the FATF discussed ongoing work on evolving proliferation financing and terrorist financing risks, financial inclusion, and standards for domestic and cross-border payments, including agreeing to release draft updates for public consultation.

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  Bulgaria: School director caught in the act while receiving a bribe

  European Public Prosecutor's Office

  February 21, 2025

  (Luxembourg, 21 February 2025) – The European Public Prosecutor’s Office (EPPO) in Sofia (Bulgaria) is leading an investigation into suspected corruption involving EU funds, following the arrest of a secondary school director caught in the act of receiving a bribe. According to the investigation, the school director allegedly demanded €10 225 (BGN 20 000) from a contractor involved in a publicly funded school renovation project. The project was financed under the "School-STEM environment" procedure, supported by EU funds through the Recovery and Resilience Facility (RRF), with additional co-financing from the Bulgarian state budget.