Tag: Underground banking

Regulatory Watch News

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  SIRIUS SPoC network meets as EU enters new era for electronic evidence

  Europol

  September 17, 2026

  The 7th SIRIUS Single Point of Contact (SPoC) Network Meeting, organised by Europol’s EU Internet Referral Unit (EU IRU) together with the German Federal Criminal Police Office (Bundeskriminalamt), took place in Berlin on 15-16 September 2026. The event brought together 70 representatives from law enforcement authorities from across Europe and 50 representatives from 29 different global service providers to address the increasingly complex and evolving landscape of cross-border access to electronic evidence. This year’s SPoC Network Meeting focused on the EU e-Evidence Legislative Package.

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  Investigation ‘Moby Dick’: Ringleader and members of criminal syndicate found guilty in €520 million VAT fraud linked to mafia

  European Public Prosecutor's Office

  September 17, 2026

  (Luxembourg, 17 September 2026) – Six individuals, including one ringleader, have been convicted by the Court of Milan (Italy) for organising and participating in a transnational criminal association, VAT fraud and money laundering, following an investigation by the European Public Prosecutor’s Office (EPPO) in Milan and Palermo (Italy), code-named ‘Moby Dick’. The judge also ordered the confiscation of over €300 million and confirmed the aggravated circumstances arising from the criminal syndicate’s aiding and abetting of a mafia association and use of mafia methods.

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  Treasury Convenes Global Financial Institutions to Advance Operation Economic Outcast

  FinCEN

  September 16, 2026

    WASHINGTON—Today, the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network (FinCEN) led a FinCEN Exchange with global financial institutions to advance Operation Economic Outcast. The event armed financial institutions with the information they need to shut down revenue streams and procurement networks tied to the Iranian regime. “Treasury continues to sever every economic lifeline Tehran has left,” said Secretary of the Treasury Scott Bessent. “Financial institutions are in lockstep with the U.S. government in support of Operation Economic Outcast, and we will continue to work closely with the private sector in the fight against the murderous Iranian regime.”