EXCLUSIVE. Huge drop off in level of financial penalties in 2021, AML Intelligence data shows; Covid is blamed in part following multiple years of record-breaking fines

Regulatory Watch News

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  Public Sector Corruption, Nigeria’s Major Problem-Olukoyede

  EFCC

  January 20, 2025

  The Executive Chairman of the Economic and Financial crimes Commission, EFCC, Ola Olukoyede has stated that public sector corruption was the greatest problem of the country with procurement and contract fraud accounting for 90 percent of Nigeria’s corruption and fraud issues. He disclosed this on Friday, January 17, 2025 in a meeting with a delegation of the management team of the Bureau of Public Procurement (BPP) led by its newly-appointed Director General, Dr. Adebowale Adedokun at the corporate headquarters of the EFCC.

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  OLAF and Mauritania Deepen Cooperation in the Fight against Fraud

  OLAF

  January 20, 2025

  The European Anti-Fraud Office (OLAF) has successfully concluded a two-phase training with the Inspection Générale d'État (IGE) of the Islamic Republic of Mauritania, aimed at strengthening collaboration in fight against fraud and smuggling. The two-phase training began with an introductory online training in November 2024, which provided foundational knowledge of risk analysis and anti-fraud strategies. This was followed by an on-site training at the IGE headquarters in Nouakchott, Mauritania on 7-8 January 2025. The session, led by OLAF and supported by external experts from Belgian Customs, offered both theoretical and hands-on field experience, allowing participants to work alongside Mauritanian Customs and relevant national administrations in real operational settings.

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  Fraudulent websites and internet banking login screens related to China CITIC Bank International Limited

  HKMA

  January 20, 2025

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China CITIC Bank International Limited relating to fraudulent websites and internet banking login screens, which have been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.