Regulatory Watch News
Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A., Institución de Banca Multiple; Amendment
FinCEN
FinCEN is issuing notice of an order amending its June 2025 order finding that CIBanco S.A., Institución de Banca Multiple (CIBanco), is a financial institution operating outside of the United States that is of primary money laundering concern in connection with illicit opioid trafficking and imposing a special measure prohibiting certain transmittals of funds involving CIBanco. This amendment allows for certain transmittals of funds to facilitate payments necessary for the Government of Mexico to liquidate CIBanco
OFSI Strategy 2026-29
OFSI
Today we are publishing OFSI’s Strategy 2026-2029. It sets out OFSI’s core objective: to ensure financial sanctions are effective, resilient and impactful. The Strategy reflects the growing use of sanctions amid geopolitical instability, aligned with challenges and opportunities OFSI expects over the next three years.It sets out a renewed focus on enhanced understanding of threats grounded in data and insight; high quality licensing, enforcement and compliance support; and strong partnerships with industry, across Government and internationally.To read OFSI’s Strategy 2026–29: Click here
Latvia: EPPO brings charges over possible fraud involving municipality of Valka
European Public Prosecutor's Office
(Luxembourg, 15 April 2026) – The European Public Prosecutor’s Office (EPPO) in Riga (Latvia) has completed the pre-trial investigation of a possible fraud involving EU funds at the Municipality of Valka. Three individuals, including two municipal officials, have been formally charged with fraud and abuse of office. It is alleged that the public officials, together with representatives of a private company, committed illegal actions in order to obtain close to €700 000 in public funds, of which €670 000 from the EU’s European Regional Development Fund (ERDF) and around €23 000 from Latvia’s state budget, for a project implemented by the municipality.
