Anti-Financial Crime & Financial Crime Compliance
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Tag: Luxembourg

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    • Regulatory Watch News

    • Six charged in relation to £13.8 million cannabis haul at Birmingham Airport

      National Crime Agency

      Six men have been charged as part of a National Crime Agency investigation into the seizure of more than half a tonne of cannabis at Birmingham Airport. Kyle Gribben, Zaeon Hunter, Lashan Walker, all aged 26; James Turner and Torian Robinson, both aged 25, and Devonte Newman, aged 22, were arrested by NCA officers, supported by Bedfordshire Police, at addresses in the Marsh Farm area of Luton and Finchley, north London, in October 2024. They are suspected of organising the attempted importation of cannabis between 1 June 2024 and 9 August 2024, including the incident at Birmingham Airport on 9 August which resulted in 11 air passengers from various locations in the UK being arrested and charged. All 11 had flown into the UK from Thailand via Paris Charles de Gaulle Airport.

    • FCA sets out vision for open finance to empower consumers and businesses

      Financial Conduct Authority

      Consumers and businesses could be given greater control over their financial data to help secure better deals, under a vision for open finance published by the FCA.
      Open finance will unlock the potential for people and businesses to share their financial data securely with a range of financial services providers, helping them access mortgages, investments, savings and pensions. This will give financial services firms a more complete picture of consumers’ and businesses’ finances, enabling more personalised and inclusive services, alongside more competitive pricing and stronger fraud protection.

    • Banks step up to disrupt illicit tobacco profits

      Austrac

      Banks have taken decisive action to disrupt the financial flows underpinning Australia’s illicit tobacco trade, strengthening oversight to more effectively cut off criminal cash flows. Australia’s illicit tobacco market presents a serious organised financial crime problem, generating significant criminal profits and driving violence, tax evasion and community harm. In late 2025, AUSTRAC and the Illicit Tobacco and E-Cigarette (ITEC) Commissioner wrote to the banking sector, warning of the growing risks linked to tobacco retailers and convenience stores using cash, private ATMs and EFTPOS terminals to move and disguise illicit tobacco proceeds.

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