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NEWS: Cyprus government on track to meet its AML obligations

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INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

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NEWS: Jack Dorsey’s Block probed by US prosecutors over crypto compliance concerns

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NEWS: UK finance regulators to respond to each other ‘within 10 working days’ to avoid repeat of Football Index collapse

By Alisha Houlihan for AMLi

CYPRIOT officials have said they will test a beneficial ownership register for companies by September and will link the register to an EU-wide electronic platform by the end of the year. 

Member States have been advised by the European Commission to link their UBO registers to the EU-wide platform by 2023’s fourth quarter.

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Premium

INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

 Premium

NEWS: Jack Dorsey’s Block probed by US prosecutors over crypto compliance concerns

 Premium

NEWS: UK finance regulators to respond to each other ‘within 10 working days’ to avoid repeat of Football Index collapse

Regulatory Watch News

  • Operation PANDORA shuts down 12 phone fraud call centres

    Europol

    In the early hours of 18 April 2024, German, Albanian, Bosnian-Herzegovinian, Kosovar* and Lebanese police forces raided 12 call centres identified as the source of thousands of daily scam calls. 21 persons were taken into custody during this Europol-supported action day, which took down a criminal network responsible for defrauding thousands of victims through the use of various modus operandi. The callers’ playbooks would range from shocking fake police calls, persuasive investment fraud or heart-wrenching romance scams. In an unprecedented law enforcement effort, a large-scale German investigation evolved into Operation PANDORA, which identified 39 suspects.

  • Croatia: Former Deputy Minister arrested in investigation involving University of Zagreb

    European Public Prosecutor's Office

    (Luxembourg, 2 May 2024) – At the request of the European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia), a former Deputy Minister at the Ministry of Culture and Media, currently Chief Conservator at the Directorate for the Protection of Cultural Heritage, was arrested today on suspicion of corruption, in an investigation into the Faculty of Geodesy of the University of Zagreb. The former dean of the Faculty of Geodesy and a former professor at the same faculty were also arrested today.

  • Enforcement and Monetary Penalties guidance updated

    OFSI

    On Thursday 2 May 2024,OFSI's Enforcement and Monetary Penalties guidance was updated. As well as being re-styled and moved into a digital format, as communicated in our 13 February blogpost, this update communicates a change in policy in how OFSI applies its guidance to cases. OFSI will now always apply the most recent iteration of its Enforcement guidance to cases. This makes engaging with the enforcement process easier and clearer for all parties, especially instances where breaches span across the current guidance and previous iterations of the guidance. Chapter 3 of the guidance, which covers case assessment, gives some more details on the change.

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