Tag: Fraud

Regulatory Watch News

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  Countering Financial Crime Conference taking place this week

  Isle of Man Financial Services Authority

  August 12, 2026

  The 2026 edition of the flagship Countering Financial Crime Conference takes place at the Villa Marina in Douglas on Wednesday 12 August.   The event brings together a diverse group of international experts, practitioners, and policymakers to share their insight into a range of current and emerging issues.   Presentations and panel sessions will highlight the work taking place to disrupt criminals who seek to exploit financial systems to launder the proceeds of cyber-enabled fraud, evade sanctions, and traffic drugs and people.   An audience of more than 500 professionals will hear from organisations including the US Treasury, UK National Crime Agency, HM Revenue and Customs, and Transparency International. The Isle of Man’s National Risk Assessment and preparations for the MONEYVAL mutual evaluation will also be key areas of focus.  

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  FinCEN Permanently Ends Beneficial Ownership Reporting Requirements for Millions of Small Business Owners

  FinCEN

  August 11, 2026

  Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The final rule is effective on its publication in the Federal Register. FinCEN today also announced that it will delete previously reported information by U.S. persons—now exempt from the reporting requirements—from the beneficial ownership information database. Under the final rule, foreign entities that are reporting companies will still be required to report beneficial ownership information for foreign individuals.

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  Cocaine worth £232m seized in National Crime Agency investigation

  National Crime Agency

  August 11, 2026

    A huge seizure of almost three tonnes of cocaine has been made as part of a National Crime Agency investigation. The haul – which has an estimated street value of £232m – was made on Thursday at London Gateway Port in Essex. Acting on NCA intelligence, Border Force officers recovered the 2.9 tonne consignment which was hidden in a coverload of bananas from South America.