Tag: UK

Regulatory Watch News

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  Billionaire Internet Fraudster Bags Two Years in Abuja

  EFCC

  January 9, 2025

  The Economic and Financial Crimes Commission, EFCC,  has secured the conviction of one Chima Hyginus Nkwocha, a.k.a "Young Billionaire," for cheating by impersonation and money laundering. Nkwocha was arraigned before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on a two-count charge bordering on cheating by impersonation and money laundering.

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  Greentube Alderney Limited to pay £1m for regulatory failures

  Gambling Commission

  January 9, 2025

  Online gambling business Greentube Alderney Limited, trading as Admiral Casino, is to pay £1 million after a Commission investigation revealed social responsibility and anti-money laundering failures.

  The operator, which runs admiralcasino.co.uk, will pay the money to socially responsible causes as part of a settlement with the Commission.

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  Financial sanctions update: Russia

  OFSI

  January 9, 2025

  On 8 January 2025  the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been amended to the Russia financial sanctions regime and is still subject to an asset freeze and trust services sanctions:

  • ZAPCHASTTRADE LLP (Group ID: 16636)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.