Tag: Nasdaq Verafin
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Regulatory Watch News
Scam alert related to banks
HKMA
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA. Hyperlinks to the press releases are available on the HKMA website.
Bank Type of Scam The Bank of East Asia, Limited Fraudulent website and internet banking login screen Shanghai Commercial Bank Limited Fraudulent website and internet banking login screen Chong Hing Bank Limited Fraudulent websites and internet banking login screens Chiyu Banking Corporation Limited Fraudulent website and internet banking login screen Ele Bank Limited Fraudulent websites 
Investigation Precision: Belarusian citizens concealing links to Russian military industry convicted of subsidy fraud in project managed by EU Agency for Space Programme
European Public Prosecutor's Office
Two Belarusian citizens (father and son) and a company they controlled were found guilty of subsidy fraud in a project to develop high-precision satellite navigation devices for the agricultural sector, following an investigation by the European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania). The investigation, code-named 'Precision', uncovered strong links between the defendants and Russian and Belarusian military industries, which are subject to EU restrictive measures.
Millions forfeited by company linked to suspected money laundering and sanctions evasion
An agricultural company has agreed to forfeit more than $5.2million (£3.84m) following a NCA civil recovery investigation into suspected money laundering and sanctions evasion. ENEX Premium Trading Limited, owned by Azerbaijan National, Nadir Valiyev and registered to St Kitts and Nevis, had transferred significant funds into recently-opened accounts held by ENEX between July and September 2024. In opening the UK accounts, Nadir Valiyev stated that the source of funds was from his personal wealth and retained earnings from previous trading structures, which included UAE registered Burston Trading FZE.
