INTERNATIONAL REGULATORY ROUND UP – REGULATORS BOOST GLOBAL COOPERATION TO FIGHT FRAUD
July 1st, 2019
INTERNATIONAL, regional and national regulators are cooperating more widely as they create strategies and operations to fight fraud that is often conducted on a trans-national basis.
For instance, European Union (EU) police agency Europol has worked with financial intelligence units (FIUs), such as the USA’s FinCEN, and FIU umbrella organisation the Egmont Group to raise concern about business email compromise fraud (BEC). Here, businesses are targeted by fake payment instructions and invoices, with FinCEN estimating that these scams are generating USD300 ...
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