NEWS: Credit Suisse flags ‘material weaknesses’ in reporting, outflows not reversed

Regulatory Watch News

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  Pakistani smuggling network busted in Romania

  Europol

  April 24, 2024

  A cross-border investigation led by the Romanian Police (Poliția Română), supported by Europol and involving the Austrian Police (Landeskriminalamt Salzburg) and the Italian Carabinieri Corps (Arma dei Carabinieri), has resulted in the dismantling of an organised crime group involved in migrant smuggling. The group arranged the illegal arrival in Romania of migrants via fraudulently obtained work visas, before facilitating their further illegal movements towards other EU countries.

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  PSR seeks views on its proposed approach to supervision

  Payment Systems Regulator

  April 24, 2024

  The Payment Systems Regulator (PSR) has published a call for views on its proposed approach to supervision, having established a Supervision and Compliance Monitoring division last year. The division was created to drive compliance with the PSR’s requirements, something that has become increasingly important as the regulator uses its powers to boost competition, increase choice and tackle payment fraud. The division will improve outcomes for everybody that uses payment systems by deterring and challenging poor practise within firms.

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  G7 Cyber Expert Group conducts cross-border coordination exercise in the financial sector

  European Central Bank

  April 24, 2024

  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.