Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Tag: Revolut

Page 1/2

  • 1
  • 2
  • Next →

    • Regulatory Watch News

    • Investigation into cyber enabled wage subsidy fraud leads to charges

      The Royal Canadian Mounted Police

      Royal Canadian Mounted Police (RCMP) Federal Policing – Central Region has laid charges following an investigation into a series of cyberattacks targeting the Government of Canada’s Canada Emergency Wage Subsidy (CEWS) program. The CEWS program, administered by the Canada Revenue Agency (CRA), was introduced to support Canadian employers during the COVID-19 pandemic. The investigation revealed a coordinated scheme in which suspects fraudulently obtained CEWS funds by exploiting compromised online credentials belonging to legitimate Canadian businesses.

    • FinCEN Issues Alert to Stop Money Laundering by Iranian Revolutionary Guard Corps

      FinCEN

      WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert to help financial institutions identify and stop funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps (IRGC). The IRGC has engaged in terrorist activity since its inception with the full support of the Iranian regime. The Alert outlines how the IRGC facilitates and launders the proceeds of illicit oil sales by using networks of shell companies and financial facilitators. To promote detection and reporting of suspicious activity by financial institutions, the Alert provides red flags related to the IRGC’s oil smuggling, front company abuse, and use of digital assets.

    • Combiteam Smoke intercepts three containers with illegal cigarettes

      Fiscal Information and Investigation Service - FIOD

      In a short time, a major blow has been dealt against the illegal cigarette trade. Within one week, Combiteam Smoke intercepted three shipping containers loaded with millions of illegal cigarettes. The containers were en route from Asia to Europe and, had they not been intercepted, would have cost the Dutch state millions of euros in excise revenue.

      The containers arrived in the port of Rotterdam and were officially loaded with regular trade goods. However, after inspection by Customs sniffer dog handlers, it turned out that they contained cigarettes. The containers were subsequently transported further under supervision to identify the recipients and the underlying criminal network.

    Sign Up To Our Newsletter

    Contact Us