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

Regulatory Watch News

• 

  FBI Covertly Infiltrated Hive Network, Thwarting Over $130 Million in Ransom Demands

  US Department of Justice

  January 26, 2023

  The Justice Department announced today its months-long disruption campaign against the Hive ransomware group that has targeted more than 1,500 victims in over 80 countries around the world, including hospitals, school districts, financial firms, and critical infrastructure. Since late July 2022, the FBI has penetrated Hive’s computer networks, captured its decryption keys, and offered them to victims worldwide, preventing victims from having to pay $130 million in ransom demanded. Since infiltrating Hive’s network in July 2022, the FBI has provided over 300 decryption keys to Hive victims who were under attack. In addition, the FBI distributed over 1,000 additional decryption keys to previous Hive victims. Finally, the department announced today that, in coordination with German law enforcement (the German Federal Criminal Police and Reutlingen Police Headquarters-CID Esslingen) and the Netherlands National High Tech Crime Unit, it has seized control of

• 

  Operation ‘Cheap Ink’: EPPO cracks down on €58 million VAT fraud involving office supplies

  European Public Prosecutor's Office

  January 26, 2023

  In an operation code-named ‘Cheap Ink’, the European Public Prosecutor’s Office (EPPO) in Venice (Italy) today detained 18 suspects, believed to be part of a criminal organisation selling office supplies at cheap prices by fraudulently avoiding VAT payment, with profits estimated at €58 million. The investigation started in 2020, following targeted administrative checks against a number of companies operating in the trade of stationery and consumables for printing equipment. The extremely cheap prices charged for these products, not in line with the market, had aroused suspicions from the Italian Financial Police (Nucleo di Polizia Economico Finanziaria Bolzano –Guardia di Finanza).

• 

  Successful takedown of drug trafficking network in Italy and Albania

  Europol

  January 26, 2023

  Eurojust and Europol have supported judicial and law enforcement authorities in Italy and Albania in dismantling a network of drug traffickers. During a joint action day which saw the involvement of some 350 officers in the field, 30 suspects were arrested and 31 locations were searched. Five rifles, one gun and six vehicles have been seized during the operation. The action day was steered in real-time from Eurojust’s coordination centre. Europol provided operational support on-the-spot by deploying its specialists both to Italy and Albania.