Tag: Due Diligence

Regulatory Watch News

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  SEC Forms New Retail Fraud Working Group

  SEC

  July 7, 2026

  Washington D.C., July 7, 2026 —

  The Securities and Exchange Commission today announced the creation of the Retail Fraud Working Group designed to strengthen the Division of Enforcement’s efforts to identify and combat fraud targeting everyday investors. The Retail Fraud Working Group will leverage staff and resources across the Commission to identify fraud and other misconduct targeting retail investors, including offering frauds, pump-and-dump schemes, market manipulation, and breaches of duties to customers by investment advisers and broker dealers. The working group will serve as a dedicated resource for proactive case generation, play an important role in coordinating with the Commission’s regulatory partners and foreign counterparts, and participate in educational outreach to retail investors in coordination with the SEC’s Office of Investor Education and Assistance.

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  Press Release: AMLA consults on clear rules for cross-border FIU information exchanges

  AMLA

  July 7, 2026

  Cross-border information sharing between FIUs is set to become harmonised and more reliable. AMLA is inviting views on draft standards that will decide when a suspicious activity report concerns another EU country and should be shared with that country's Financial Intelligence Unit (FIU).

  A stronger network against financial crime

  With these standards, AMLA delivers on one of its core mandates: improving FIU cooperation across borders. Today, FIU information sharing relies on practices built up over time, and approaches differ from one country to the next, creating delays and legal uncertainty. The draft rules give every FIU in the EU a common, clear basis for the cross-border sharing of information, strengthening efficiency and consistency in the fight against financial crime.

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  Croatia: First verdict in corruption and EU funds misuse case involving Ministry of Culture and Faculty of Geodesy

  European Public Prosecutor's Office

  July 7, 2026

  (Luxembourg, 7 July 2026) – The County Court in Zagreb (Croatia) has rendered a first verdict today against ten individuals, following an indictment by the European Public Prosecutor’s Office (EPPO) in Zagreb over corruption and misuse of EU funds involving the Ministry of Culture and the Faculty of Geodesy. As previously reported, this case concerns an alleged coordinated corruption scheme involving a former deputy minister of Culture and Media, a former dean of the Faculty of Geodesy and a former professor, amongst others, as well as representatives of private companies. The former dean and the ex-professor are accused of manipulating 27 public procurement procedures linked to four EU-funded projects worth nearly €6 million by steering contracts to favoured companies in exchange for kickbacks, using false or inflated bids, and misusing project funds for personal benefit. The former deputy minister is accused of arranging for earthquake damage documentation work to be entrusted to the Faculty despite knowing it lacked the capacity to perform the work, enabling contracts to be awarded to a company controlled by the former dean and the ex-professor, while certifying false or inflated reports.