DIGITAL bank N26 has just lost its Head of Treasury & Investment Oliver Schreiber to rival Revolut.
The move is a further blow to the German fintech which is already being investigated by regulator BaFin while at the same time preparing for an IPO. N26 has just raised a financing round of €900M.
N26's Germany boss Georg Hauer recently left and the loss of Schreiber is sure to be keenly felt.
Schreiber becomes CFO at Revolut's Lithuanian parent in Vilnius.
Schreiber who has worked at N26 for over five years was previously an advisor on the first series of hit tv show 'Bad Banks.' He reported to co-founder Maximilian Tayenthal.
Bafin has limited N26 growth to 50,000 customers per month as it wrestles to get its AML processes up to standard.
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Fiji Police Force and AFP commissioners release communique from first Pacific Transnational Crime Summit
Australia Federal Police
Fiji Police Force Commissioner (FPF) Rusiate Tudravu and AFP Commissioner Krissy Barrett have together released the official communique from the first Pacific Transnational Crime Summit, held in Fiji from May 18-22.
Focused on the opportunity to advance Pacific-led policing cooperation to combat the malicious threat of transnational organised crime in the region, the summit carried the theme of ‘Connected by Ocean, United in the Fight’.
The summit, co-hosted by the FPF and AFP, brought together law enforcement from across the Pacific and internationally, as well as members of the banking and finance sector, Pacific Islands Law Officers’ Network and the Global Initiative Against Transnational Organised Crime.
Europol’s Project A.S.S.E.T. identifies millions in criminal assets
Europol
Europol, in collaboration with law enforcement agencies from 31 countries and leading private sector partners, has concluded its third and most successful operational week of Project A.S.S.E.T. (Asset Search & Seize Enforcement Taskforce). This initiative, organised by the Europol's European Financial and Economic Crime Centre (EFECC), has become a crucial component in the global fight against serious and organised crime and the seizure of criminal assets.
Refund fraud could be costing UK retailers over £5 billion a year, new research finds
Cifas
Refund fraud could be costing UK online retailers up to £5.76 billion a year, according to new research from the University of Portsmouth, funded by the UK’s leading fraud prevention service, Cifas.
The Mapping the Online Economy of Refund Fraud report – conducted with colleagues from the University of Bristol, University of Surrey and Queensland University of Technology – launches today (21 May) and analyses nearly 500,000 posts across cybercrime forums, Telegram and Discord. The research found fraudsters have been using these channels to openly share techniques, target retailers and sell fraudulent refunds as a paid service. Some ‘refund‑as‑a‑service’ vendors were even taking up to 30% of the refund value for a guaranteed outcome