LATEST: AUSTRAC launches investigation into Sportsbet & Bet365 over alleged anti-money laundering failures

Regulatory Watch News

• 

  Lithuania: 12 charged in investigation into suspected €1.3 million fraud involving EU-funded projects

  European Public Prosecutor's Office

  October 23, 2026

  (Luxembourg, 23 October 2026) – The European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania) has charged twelve individuals in an investigation into suspected fraud and document forgery involving two EU-funded projects. The alleged offences are estimated to have caused more than €1.3 million in damage, and the suspects are also accused of attempting to obtain a further €500 000 in funding, which was not paid. The investigation is being carried out by Lithuania’s Financial Crime Investigation Service (Finansinių nusikaltimų tyrimo tarnyba - FNTT). This week, 100 FNTT officers conducted 25 searches across the counties of Klaipėda, Kaunas, Marijampolė, and Vilnius. 64 witnesses have also been interviewed.

• 

  Cybercrime crackdown in Africa nets 1,462 arrests, recovers over USD 105 million

  Interpol

  October 22, 2026

  Operation Serengeti III dismantles thousands of malicious cyber networks

  LYON, France – One of Africa’s largest cybercrime enforcement operations saw law enforcement agencies from 21 countries arrest 1,462 suspects, disrupt 10,909 malicious networks and recover more than USD 105 million in illicit funds. Under INTERPOL's coordination, investigators from participating countries joined forces in Operation Serengeti III between 29 June and 31 August 2026 to combat cyber-enabled fraud, ransomware, business email compromise (BEC), online scams and digital extortion. Authorities identified 65,929 victims targeted by cybercriminal networks, underscoring the scale and sophistication of today's digital threats. Financial investigations linked criminal activity to losses exceeding USD 385 million.

• 

  Former chief executive banned after misconduct led to £4m losses in high-risk investments

  Financial Conduct Authority

  October 22, 2026

  Mr Dawkins has also been fined nearly £270,000. In 2019, Mr Dawkins sold Vector Wealth to a disqualified director who described himself as CEO and wanted to use Vector Wealth’s FCA-authorised status to sell mini-bonds. Mr Dawkins told the FCA he was still in charge, but the new “CEO” was really running the firm. This deception allowed the disqualified director to promote mini-bonds using the legitimacy of the firm to make them appear safer than they were. The disqualified director and Kadir Kanizi, a former senior manager at Vector Wealth, promoted the bonds but investors were not properly warned about the risks. Investors put in £105,000 on average, with one investing £1.1 million. Before seeing the marketing material, they had to confirm they were high net worth or sophisticated investors. Investors are expected to lose about £4 million.