LATEST: Big rise in financial crime linked to organised gangs in Israel AML report

Regulatory Watch News

• 

  Consolidated Nuclear Security Agrees to Pay $18.4 Million to Settle False Claims Act Allegations of Timecard Fraud

  US Department of Justice

  April 23, 2024

  Consolidated Nuclear Security LLC (CNS) has agreed to pay the United States $18.4 million to settle allegations that, between July 1, 2014, and June 30, 2020, CNS knowingly submitted false claims to the National Nuclear Security Administration (NNSA) for time not worked at NNSA’s Pantex Site near Amarillo, Texas. The NNSA’s Pantex Site is the nation's primary facility for the assembly, disassembly and retrofitting of nuclear weapons. CNS, a Delaware company with its principal place of business in Tennessee, held a contract to manage and operate the site.

• 

  G7 Cyber Expert Group Conducts Cross-Border Coordination Exercise in the Financial Sector

  US Department of the Treasury

  April 23, 2024

  WASHINGTON — The G7 Cyber Expert Group completed a cross-border coordination exercise on 17 April 2024. G7 authorities routinely exercise to ensure they can effectively coordinate and communicate their response in the event of a widespread cyber incident affecting the financial system. The primary objective of the exercise was to strengthen the ability of G7 financial authorities in effectively communicating and coordinating their respective responses to facilitate crisis management in the event of a significant cross-border cyber incident affecting the financial sector. The exercise built on previous simulations and workshops, which focused on cyber incident response, recovery management, and crisis communication.

• 

  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.