Anti-Financial Crime & Financial Crime Compliance
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    • Regulatory Watch News

    • FinCEN Assesses Historic $80 Million Penalty Against Canaccord Genuity LLC for Securities Fraud-Related Bank Secrecy Act Violations

      FinCEN

      WASHINGTON—Today, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed an $80,000,000 civil money penalty against Canaccord Genuity LLC (Canaccord) for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering and countering the financing of terrorism law that safeguards the financial system from illicit use.  This is the largest penalty ever imposed against a broker-dealer for violating the BSA.

    • Europol has identified AI powered fraud as a key problem area
      From a small Swedish town to a global crime network: international operation strikes top-tier organised crime

      Europol

      The seizure of two mobile phones in a small Swedish town exposed a resilient criminal architecture stretching across Europe, Asia and Australia. On 4 March, coordinated actions in Spain, Sweden and Thailand struck key nodes of this network, building on earlier operational activity in Australia.

    • Italy: EPPO secures €2 million seizure in investigation into fraud with RRF funds

      European Public Prosecutor's Office

      At the request of the European Public Prosecutor’s Office (EPPO) in Turin (Italy), the Italian Financial Police (Guardia di Finanza) of Biella seized assets worth €1.98 million in an investigation into suspected fraud involving funds from the EU’s Recovery and Resilience Facility (RRF) for Italy. The investigation, code-named Nuovi Orizzonti (‘New Horizons’), concerns a suspected organised criminal group that allegedly defrauded public budgets by obtaining RRF funds and by claiming tax credits for fictitious energy efficiency works.

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