Anti-Financial Crime & Financial Crime Compliance
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Tag: Fraud

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    • Regulatory Watch News

    • Bulgaria: EPPO conducts searches in investigation into corruption involving EU fisheries funds

      European Public Prosecutor's Office

      (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.

    • Europol has identified AI powered fraud as a key problem area
      8 arrests for migrant smuggling and drug trafficking across the Mediterranean

      Europol

      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

      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).

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