PENALTY: CommunityBank of Texas is fined $8M by FinCEN for willful violations of its AML regime

Regulatory Watch News

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  OLAF-EPPO operational conference: strengthening partnership to ensure fraud with EU money does not pay

  OLAF

  April 23, 2024

  (Luxembourg, 23 April 2024) - An Operational Partnership Conference of the European Anti-Fraud Office (OLAF) and the European Public Prosecutor’s Office (EPPO) took place on 22 and 23 April. Prosecutors and financial investigators from the EPPO and investigators, forensic experts and analysts from OLAF gathered in Brussels to discuss their respective experiences and possible improvements almost three years after the start of EPPO operations.

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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.