OFAC hits Bank of China (UK) with $2M+ fine; says bank demonstrated ‘reckless disregard’ in violating Sudan sanctions regime

Regulatory Watch News

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  Five-country operation targets cigarette smuggling network operating from the UK

  Europol

  March 24, 2026

  A large organised crime group suspected of smuggling counterfeit cigarettes into Europe has been targeted in a coordinated operation across five countries on 24 March. The action day, led by the European Public Prosecutor’s Office (EPPO) in Turin, Italy, took place in Italy, Poland, France, the United Kingdom and Switzerland with Europol’s support.

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  London and its parent company Oplyse Holdings Limited £2m for failing to act with integrity and misleading the PRA over their capital position

  Prudential Regulation Authority

  March 24, 2026

  The Prudential Regulation Authority (PRA) has fined The Bank of London Group Limited and Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2 million for misleading the PRA over their capital positions, failing to act with integrity, failing to be open and cooperative with the regulator and failing to maintain adequate financial resources.

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  Festgeldplan(.)com: BaFin warns about website and identity fraud

  BaFin

  March 24, 2026

  The German Financial Supervisory Authority (BaFin) warns about offers from the website festgeldplan(.)com. According to information available to BaFin, the unknown operators of the website are offering financial services without the required authorisation. They give the impression that their offers originate from WPV Advisory & Asset Management GmbH & Co. KG, which is supervised by BaFin. It is a case of identity fraud. WPV Advisory & Asset Management GmbH & Co. KG has no connection with the website or the financial services offered there.