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NEWS: £140K pa manager at Britain’s FCA loses case in which she wanted to WFH permanently

Premium January 20, 2024

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By AML Intelligence Correspondent A MANAGER earning £140,000pa at Britain’s Financial Conduct Authority (FCA) has lost a case in which she wanted to work from home (WFH) permanently. A court ruled the authority was within its rights to compel the manager back to the office, finding that it was a better environment for “non-verbal communication”….

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BREAKING: Bank of America’s Merrill Lynch fined $7.5m for failing to submit SARs

NEWS: Should Big Tech cover the UK’s £1.3bn fraud losses? Inside the future of scamming – ‘Collared’ Episode 8

NEWS: Binance prepares to suspend services across the EU

Regulatory Watch News

  • Launch of OFAC Reconsideration Portal

    OFAC

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is launching a new online Reconsideration Portal for the submission of requests to be removed from an OFAC sanctions list. This portal is intended to streamline the petitions process by guiding submitters to provide necessary information upfront, rather than through a series of questionnaire/answer exchanges that can delay efficient adjudication of a delisting petition. Listed persons can also request certain unclassified, non-privileged information underlying their sanctions determination (a "courtesy document") through the Reconsideration Portal. To accompany this new portal, OFAC is updating its website with additional information on the petitions process.

  • France: EPPO conducts searches in probe into large-scale VAT carousel fraud

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    (Luxembourg, 29 June 2026) – At the request of the European Public Prosecutor’s Office (EPPO) in Paris (France), searches were carried out in the Paris region and six individuals were questioned as part of an investigation into a suspected multi-million VAT fraud scheme. The investigation concerns a suspected VAT ‘carousel’ fraud – a complex criminal scheme that takes advantage of EU rules on cross-border transactions between its Member States, as these are exempt from value-added tax (VAT), with an estimated damage amounting to around €13 million in evaded VAT. The investigation also concerns money laundering and participation in a criminal organisation involving 26 French companies, mainly based in the Ile-de-France region.

  • Update to UK Sanctions List: Global Irregular Migration Regime (RE-ISSUE)

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    On Thursday 28 May, the UK Government amended the designations of four individuals sanctioned under the Global Irregular Migration Sanctions Regime. Amended Individuals:

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    Manjeet SINGH GIM0057
    Mohammad Sufiyan Dawood Ahmad DARAGUR GIM0064
    Rakesh Taraknath PANDEY GIM0065
     

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