Tag: AFC

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NEWS: N26 reports increased losses for 2021 amidst onboarding cap & compliance issues

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LATEST: FinCEN Director says new beneficial ownership regulations will be a ‘significant step forward’ in US AFC efforts

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LATEST: Donald Trump and family sued for bank, tax and insurance fraud

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LATEST: Visa and Deutsche Bank launch AFC partnership for online retail

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NEWS: Three of Luxembourg’s financial bodies sign public-private partnership to bolster AFC efforts

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NEWS: Australia’s Grant Thornton arm acquires AML specialist firm Initialism

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NEWS: ePayments shuts up shop after FCA identifies AFC weaknesses

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BaFin Executive Director says FATF recommendations are being implemented to ‘further intensify’ AML & AFC efforts in the country

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NEWS: Bulgarian PM lifts lid on Russian meddling in explosive interview; says corruption is ‘Moscow’s best foreign policy instrument’ in the Balkans

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Austrac Chief warns more money laundering prosecutions are needed to bulk up Australian AFC efforts

INSIGHT: Why EDPS recommendations on Europe’s AML package offers opportunity to bridge siloed views within AFC and data protection communities

FINAL CALL: Registrations close today for AML Intelligence’s PPP conference on April 27

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Bulgaria: EPPO conducts searches in investigation into corruption involving EU fisheries funds
European Public Prosecutor's Office
June 19, 2025
(Luxembourg, 19 June 2025) – On behalf of the European Public Prosecutor’s Office (EPPO) in Sofia (Bulgaria), the Bulgarian National Police carried out several searches today, in an investigation into suspected passive corruption and abuse of office affecting EU-funded maritime and fisheries programmes. The searches targeted private residences and work premises in Sofia and Oryahovo and are linked to officials from the Directorate “Maritime Affairs and Fisheries” at the Ministry of Agriculture and Food – the managing authority of the EU funds concerned, suspected of passive corruption and abuse of office.
8 arrests for migrant smuggling and drug trafficking across the Mediterranean
Europol
June 19, 2025
The gang used minors as skippers in its criminal operations to minimise the risk of detection. Europol has supported Spanish authorities (Policía Nacional) in a transnational operation against a highly-organised network involved in both migrant smuggling and drug trafficking between Spain and Morocco. Authorities believe the group smuggled over 200 people and obtained over EUR 2.5 million in profits.
Alleged $6bn Mambila Fraud: Liyel Imoke Wrote Contractor Company that FEC did not Approve the Contract- Witness
EFCC
June 19, 2025
The Third Prosecution Witness, PW3, Umar Babangida in the trial of the former Minister of Power and Steel Development, Olu Agunloye, on Monday, June 16, 2025, told Justice J.O. Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja that Agunloye’s successor, Senator Liyel Imoke revealed that the Federal Executive Council meeting of May 21, 2003 did not approve the memo of his predecessor for the award of the Mambila Hydro Power Project to Sunrise Power and Transmission Company Limited. Agunloye is facing prosecution by the Economic and Financial Crimes Commission, EFCC, on a seven-count charge, bordering on fraudulent award of the contract to Sunrise Power and Transmission Company Limited and official corruption to the tune of $6billion (Six Billion Dollars).