Category: Fraud

Regulatory Watch News

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  Romania: Four indicted for fraud involving funds for young farmers

  European Public Prosecutor's Office

  April 24, 2026

  (Luxembourg, 24 April 2026) –The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca (Romania) has filed an indictment at Cluj Court against four individuals for suspected fraud involving funds for young farmers, co-financed by the European Agricultural Fund for Rural Development (EAFRD). According to the evidence, the defendants submitted false and inaccurate documents to Romania’s Agency for Financing Rural Investments (AFIR), responsible for managing EU funds, thereby attempting to unlawfully obtain €115 000 (RON 575 000), of which they received €45 000 (RON 225 000).

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  FCA spearheads global action to stop illegal finfluencers

  Financial Conduct Authority

  April 24, 2026

  Seventeen regulators worldwide took part in the 'week of action' which included enforcement activity, consumer awareness campaigns, and educational programmes for finfluencers who want to act responsibly. Activity started on 20 April 2026. In the UK, the FCA:

  • Secured a guilty plea from Geordie Shore’s Aaron Chalmers for illegal promotions on social media. Criminal proceedings have been commenced against a further 2 individuals for similar offences.
  • Sent 4 targeted warning letters to individuals suspected of engaging in unauthorised financial promotions.
  • Issued 34 warning alerts against unauthorised firms or individuals, and updated an additional 14 warnings.
  • Made 120 account takedown requests to social media platforms hosting illegal finfluencer content. Within these accounts, the FCA identified 1,267 illegal financial adverts, which reached a minimum of 2,338,372 UK accounts. 66% of these adverts were from firms or individuals already on the FCA's Warning List.

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  FINTRAC publishes money laundering indicators related to extortion

  FINTRAC

  April 23, 2026

  FINTRAC published today a new Special Bulletin on money laundering associated with extortion directed at Canada’s South Asian diaspora to help businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) detect extortion and report suspicious transactions and listed person or entity property reports to the Centre. Extortion is a serious criminal activity that poses a significant threat to Canadians, Canadian businesses and Canadian communities and generates substantial profits for organized crime that are often laundered through the financial system. For some Canadians and Canadian businesses, extortion has become an unacceptable reality of everyday life – one that brings fear, intimidation and violence to families and communities, fundamentally undermining Canadians’ sense of safety.