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On January 12, 2023, the French Ministry of the Economy announced a “punch action” is currently underway to verify compliance with asset-freezing measures by real estate professionals in the Alpes-Maritimes.
Europe
On January 6, the Crown Prosecution Service (CPS) reported that six defendants, including a senior manager and two drivers of a road haulage business, have been imprisoned for operating a large-scale money laundering scheme involving over £30 million in cash. […]
On December 29, controversial online influencer Andrew Tate was detained by Romanian police as part of a human trafficking investigation that began in early 2021. According to Romania’s Directorate for Investigating Organised Crime and Terrorism (DIICOT), Tate’s brother and two […]
Eva Kaili, one of the European Parliament’s 14 vice presidents, was among five arrested on bribery and corruption allegations during a probe by Belgian authorities. Investigations have uncovered a web including Kaili’s partner, former politicians, and NGO decision-makers. Nineteen or […]
On December 5, 2022, Europol announced the arrest of 2,469 money mules in its eighth edition of the European Money Mule Action (EMMA8). Supported by Eurojust, INTERPOL, and the European Banking Federation (EBF), the latest operational phase began in September […]
On November 28, 2022, Europol reported that a “super cartel” of drugs traffickers controlling around one third of Europe’s cocaine trade had been busted in a series of coordinated raids. Codenamed Operation Desert Light, 49 suspects were arrested, including six […]
On October 27, 2022, the European Commission issued its Supranational Risk Assessment Report (SNRA) to the European Parliament and Counsel regarding the “risk of money laundering (ML) and terrorist financing (TF) affecting the internal market and relating to cross-border activities.” […]
In a coordinated operation led by Europol’s European Cybercrime Centre (EC3) and the Merchant Risk Council, 59 scammers have been arrested for using stolen credit card numbers to purchase luxury items. The operation, called e-Commerce Action 2022 (eComm 2022), took […]
German officials have searched UBS bank branches in Munich and Frankfurt as part of a money laundering investigation into Russian oligarch Alisher Usmanov. On November 8, 2022, a spokesman for the Frankfurt prosecutor’s office said Usmanov is accused of arranging […]
On October 28, the Wolfsberg Group issued updated guidelines and best practices for financial institutions (FIs) involved in correspondent banking. The guidance replaces the Group’s 2014 edition and widens its scope to address entities other than banks, such as non-bank […]
Credit Suisse agreed to pay a 238 million settlement to end a French probe surrounding an alleged tax evasion scheme between 2005 and 2012. Under General Counsel Markus Diethelm, the settlement is the latest in a series of proactive moves […]
On October 17, 2022, the UK Treasury’s Office of Financial Sanctions Implementation (OFSI) and the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a joint statement announcing a new strategy to collaborate further on economic sanctions implementation and […]