NEWS: Egmont Group executive secretary to step down after a decade

Regulatory Watch News

• 

  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.

• 

  Operation Economic Outcast Targets Iran’s Shadow Fleet Networks

  FinCEN

  October 21, 2026

  Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury sanctioned Panama- and Greece-based law firm Karnakis and Karnakis, which has supported illicit Iranian shipping activity for years, indirectly aiding Tehran’s ability to generate revenue to fund its military, weapons, and nuclear programs. Throughout Operation Economic Outcast, Treasury has continued to coordinate with counterparts in Europe and around the world to sever the Iranian regime’s remaining economic lifelines. Treasury today also sanctioned Singapore- and UAE-based shipping agents that directly aid Iranian shadow fleet operations.