Tag: Lawsuit
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Regulatory Watch News
UK takes over Presidency of Financial Action Task Force (2026–2028)
FATF
Giles Thomson began his term as President of the Financial Action Task Force (FATF) on 1 July 2026. He succeeded Ms. Elisa de Anda Madrazo of Mexico. He served as FATF Vice-President from July 2025 - June 2026 and has been replaced by Vivek Aggarwal, from India, as Vice-President. Giles Thomson serves as Director for Economic Crime and Sanctions in His Majesty's Treasury. He is responsible for the UK's AML/CTF policy and the Office for Financial Sanctions Implementation.
Four questions about DNB’s new payment fraud figures
DeNederlandscheBank
1. What is a fraudulent transaction?
2. How do banks and payment institutions deal with fraudulent transactions?
3. Why is DNB now publishing these figures?
4. Which figures are included, and which are not?
Italy: EPPO seizes over €23.5 million in investigation into VAT fraud in the fuel sector
European Public Prosecutor's Office
(Luxembourg, 1 July 2026) – On behalf of the European Public Prosecutor’s Office (EPPO) in Milan (Italy), the Italian Financial Police (Guardia di Finanza) and the Italian Customs and Monopolies Agency (Agenzia delle Dogane e dei Monopoli) seized assets worth over €23.5 million, in an investigation into a VAT fraud scheme involving imported fuel to the Italian market. At the request of the EPPO, the Judge for Preliminary Investigations at the Court of Milan issued an order to seize assets worth up to €60 million to secure compensation for the alleged damage. On Tuesday, properties in Lombardy, Liguria and Valle d’Aosta worth approximately €13.5 million were seized, as well as bank accounts containing around €10 million, and several vehicles. Efforts to identify and seize additional assets are ongoing.
