Tag: Fraud

Regulatory Watch News

• 

  France: Seven convicted of €1.13 million fraud involving energy-renovation scheme MaPrimeRénov’

  European Public Prosecutor's Office

  June 11, 2026

  (Luxembourg, 11 June 2026) – Seven people were convicted this week over a €1.13 million fraud involving French energy-renovation scheme MaPrimeRénov’, following an investigation by the European Public Prosecutor’s Office (EPPO) in Paris (France). MaPrimeRénov’ is a French government programme, partly funded by the EU under the Recovery and Resilience Facility (RRF), that provides financial support for energy-efficiency renovations in residential buildings.

• 

  New FAQs added – Transneft ports, payments and insurance

  OFSI

  June 11, 2026

  OFSI has published new FAQs (188-195) clarifying how UK financial sanctions apply in relation to Transneft and associated activity. These FAQs provide additional guidance to industry on how relevant prohibitions operate in practice, including when a licence may be required and how firms should approach compliance risks. The FAQs respond to stakeholder queries and aims to support a consistent understanding of the regime, helping to reduce the risk of circumvention. We encourage insurers, financial institutions and maritime operators to review the guidance and ensure internal processes reflect these considerations.

• 

  Banking services: inclusion on a United States sanctions list is not sufficient, on its own, for a refusal to open an account

  Court of Justice of the European Union

  June 11, 2026

  The Slovenian court made a reference to the Court of Justice. It wishes to know, inter alia, whether the bank’s refusal was justified under EU law. 4 In response, the Court states, first of all, that any consumer residing legally in the European Union has the right to open and use a payment account with basic features. However, that right is subject to compliance with the rules relating to the prevention of money laundering and the countering of terrorism. The mere inclusion of a customer’s name on the OFAC list, or on any other list of that type drawn up by a third country, does not automatically prohibit a bank from establishing a business relationship with that customer. That inclusion may nevertheless constitute one of the relevant factors which the bank is required to take into account during an individual assessment of the risk of money laundering and terrorist financing.