Category: Banking

Regulatory Watch News

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  Extortion Task Force Takes Down International Criminal Group Targeting South Asian Community

  FINTRAC

  May 26, 2026

  Region of Peel – Peel Regional Police have arrested 17 individuals, majority of whom have ties to an international criminal network known as For Brothers, which targeted South Asian business owners and community members across the region, Canada and the United States. Led by the Extortion Task Force, the investigation dismantled a coordinated campaign of intimidation, threats, and escalating violence used to extort local businesses. The organized criminal network is allegedly responsible for a series of targeted attacks against the Region of Peel’s South Asian community. They are believed to have been active in Brampton, Mississauga, Caledon, and British Columbia, with links to California.

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  Croatia: Three individuals and a company indicted for subsidy fraud involving funds for earthquake repairs

  European Public Prosecutor's Office

  May 26, 2026

  (Luxembourg, 26 May 2026) – The European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia) has filed an indictment against three individuals and a company for subsidy fraud and document forgery to obtain approximately €2.5 million financed by the European Union Solidarity Fund (EUSF) for post-earthquake reconstruction. As previously reported, between January 2022 and October 2023, one of the defendants applied on behalf of the indicted company, owned by him, to a public call by the Croatian Ministry of Economy and Sustainable Development. The purpose of the call was to restore the energy infrastructure, power plants, energy systems and related buildings damaged by the earthquakes that struck Croatia’s Sisak-Moslavina County on 28 and 29 December 2020.

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  Update to UK Sanctions List: Russia Regime

  UK Government

  May 26, 2026

  Today, Tuesday 26 May, the UK Government has designated the following 4 individuals and 14 entities and under the Russia (Sanctions) (EU Exit) Regulations 2019. Entities designated:

  Name:	Unique ID:
  EXMO EXCHANGE LIMITED	RUS3602
  NUEVA CRYPTOLOGIA, SOCIEDAD POR ACCIONES SIMPLIFICADA DE CAPITAL VARIABLE (S.A.S. DE C.V.)	RUS3603
  ARVIX LIMITED LIABILITY COMPANY	RUS3604
  RAPIRA GROUP LLC	RUS3605
  ALISTERA LIMITED	RUS3606
  OPEN JOINT STOCK COMPANY "EURASIAN SAVINGS BANK"	RUS3608
  BITPAPA IC FZC LLC	RUS3609
  SOOTY LIMITED	RUS3610
  AIFORY LIMITED LIABILITY COMPANY	RUS3611
  OPEN JOINT-STOCK COMPANY "STATE BROKERAGE COMPANY"	RUS3615
  LIMITED LIABILITY COMPANY "DIAMOND ESTATE"	RUS3616
  TRACE ROAD LIMITED LIABILITY COMPANY	RUS3617
  OPEN JOINT-STOCK COMPANY "VIRTUAL ASSETS ISSUER"	RUS3618
  HUOBI GLOBAL S.A.	RUS3619