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Tag: WMD

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Regulatory Watch News

  • Couriers convicted over £13.8 million cannabis importation attempt

    National Crime Agency

    A gang of drugs couriers who were part of a plot to smuggle cannabis worth £13.8 million into the UK via Birmingham Airport have been convicted. The National Crime Agency investigated the group of 11, who were arrested by Border Force officers in August 2024 when the class B drugs were found packed into 22 suitcases. They had arrived into the UK on the same flights from Thailand via Paris Charles de Gaulle Airport.

  • FMA imposes sanction against Kurant GmbH for breaches of due diligence obligations for the prevention of money laundering and terrorist financing

    FMA

    The Austrian Financial Market Authority (FMA) has imposed an additional fine of EUR 45,000 against Kurant GmbH. The proceedings were concluded in an accelerated manner pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The reason for the fine is due to breaches of the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäsche-Gesetz). The breaches specifically relate to policies and procedures for the application of customer due diligence obligations when conducting occasional transaction and where suspicion exists or there is a justified reason to assume that customers belong to a terrorist organisation or that customers are objectively involved in transactions for the purposes of money laundering or terrorist financing. The penal order is final.

  • Scam alert related to banks

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press release issued by the bank listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which has been reported to the HKMA.  Hyperlink to the press release is available on the HKMA website.  
           Bank        Type of Scam
    Bank Julius Baer & Co. Ltd. Fraudulent website
     

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