Category: Fraud

Regulatory Watch News

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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

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  The Securities and Futures Commission (SFC) has banned Mr Paul Wan Kai Leung, former responsible officer, manager-in-charge, and director of Nerico Brothers Limited (NBL), from re-entering the industry for life (Note 1). The disciplinary action is related to the SFC’s earlier sanctions against NBL and its director, Jerff Lee Cheuk Fung, for misuse of client assets, facilitation of the misappropriation of client assets, and provision of false or misleading information to the SFC (Note 2).

  Interpol

  May 26, 2026

  SAN SALVADOR, El Salvador – A coordinated police operation targeting illicit firearms trafficking and associated criminal activities has resulted in the seizure of 3,308 firearms and 56 tonnes of illegal drugs. Operation Orca XI (15 October 2025 – 30 November 2025) was conducted across 20 countries in Central America, South America, and the Caribbean, with coordination and support from INTERPOL. In preparation for the operation, INTERPOL assisted participating countries in analyzing firearms trafficking intelligence, developing national threat assessments and coordinating cross-border information exchange, with support from the Organization of American States (OAS) to facilitate regional collaboration.