NEWS: EU law enforcement warns – fighting cybercrime hinges on data

Regulatory Watch News

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  Banking services: inclusion on a United States sanctions list is not sufficient, on its own, for a refusal to open an account

  Court of Justice of the European Union

  June 11, 2026

  The Slovenian court made a reference to the Court of Justice. It wishes to know, inter alia, whether the bank’s refusal was justified under EU law. 4 In response, the Court states, first of all, that any consumer residing legally in the European Union has the right to open and use a payment account with basic features. However, that right is subject to compliance with the rules relating to the prevention of money laundering and the countering of terrorism. The mere inclusion of a customer’s name on the OFAC list, or on any other list of that type drawn up by a third country, does not automatically prohibit a bank from establishing a business relationship with that customer. That inclusion may nevertheless constitute one of the relevant factors which the bank is required to take into account during an individual assessment of the risk of money laundering and terrorist financing.

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  Seven members of major Islamic State financing network convicted

  Europol

  June 10, 2026

  Europol supported the Belgian authorities in the successful conclusion of a complex counter-terrorism investigation, targeting an international network primarily composed of individuals of Chechen origin residing in Europe. The network was found to be deeply radicalised and actively engaged in supporting and financing the activities of the so-called Islamic State terrorist organisation. During the operation, Belgian counter-terrorism units uncovered and dismantled a sophisticated infrastructure involving terrorism financing, cryptocurrency-based money laundering, and facilitation networks. The targeted network was involved in financing the release of Foreign Terrorist Fighters (FTFs) detained in conflict zones such as Syria, as well as providing financial support to members of the so-called Islamic State in Syria and Central Asia.

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  Five arrested and more than £30m of cocaine recovered in at-sea smuggling bid

  National Crime Agency

  June 10, 2026

  Five men are in custody and more than £30m of cocaine has been recovered following a National Crime Agency investigation. NCA officers struck shortly after 1300 yesterday (Monday) arresting the suspects at Eastbourne Marina and seizing 425kg of the Class A drug which has a street value of £34m. It is alleged four of the men had returned to shore on the fishing vessel New Horizon after collecting the drugs which had been dropped in the English Channel by another vessel.