Malta set to ban cash transactions over €10K days after similar bloc-wide plan by the EU

Regulatory Watch News

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  Global drug kingpin’s inner circle taken down

  Europol

  April 23, 2024

  In a large-scale raid conducted in Bosnia and Herzegovina, law enforcement officers swarmed homes and offices of 23 persons suspected to be part of the ‘inner circle’ of a drug kingpin apprehended in November 2022. Europol supported yesterday’s action, which serves as another milestone in the fight against the so-called ‘super cartel’, an alliance of criminal networks that controlled much of Europe’s cocaine trade. As in operation ‘Desert Light’, several partners from around the globe collaborated to deal yet another major blow to this criminal structure. Over 40 locations were searched by officers active on the ground, who were joined by Europol specialists, as well as United States Drug Enforcement Agency (DEA), and Federal Bureau of Investigation (FBI) agents.

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  SFC warns public of CBEX Group and Bitget Pro for suspected virtual asset-related fraud

  Securities and Futures Commission

  April 23, 2024

  The Securities and Futures Commission (SFC) today warns the public of entities operating under the names of “CBEX Group” and “Bitget Pro” for suspected virtual asset-related fraudulent activities . Investors reported difficulties with virtual asset withdrawals or unauthorised withdrawals. The SFC suspects that the platforms may have deceived investors with fake withdrawal records. At the SFC’s request, the Hong Kong Police Force has taken steps to block access to relevant websites. Notwithstanding the action taken, the public should beware that scammers may continue to create websites with similar domain names.

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  FinCEN Reminds Financial Institutions to Remain Vigilant to Environmental Crimes

  FinCEN

  April 22, 2024

  WASHINGTON—As the nation reflects on the many ways to protect our environment this Earth Day, the Financial Crimes Enforcement Network (FinCEN) reminds financial institutions to remain vigilant in identifying and reporting suspicious activity related to environmental crimes. Environmental crimes frequently involve transnational criminal activity related to several of FinCEN’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Priorities, including corruption, fraud, human trafficking, and drug trafficking.