23 OCTOBER 2022
AUSTRIA: EU FUNDING AGENCY BOSS INVESTIGATED FOR LAUNDERING EU MONEY TO MALTA TRUST
On 22 October, The Shift reported that the head of the Agency for European Integration and Economic Development (AEI) in Vienna being accused of the fraud and embezzlement of EU funds to a private trust in Malta. In July, raids were carried out at the Austrian finance ministry and at the offices of the federal police.
EQUATORIAL GUINEA PROCEEDINGS AGAINST FRANCE BEFORE THE INTERNATIONAL COURT OF JUSTICE ALLEGING THAT FRANCE IS FAILING TO COMPLY WITH ITS ASSET RECOVERY OBLIGATIONS UNDER THE 2003 UN CONVENTION AGAINST CORRUPTION
On 18 October, an article in the European Journal of International Law reported on Equatorial Guinea having initiated proceedings in September at the ICJ, described as another stage in the long-running saga concerning the misappropriation and laundering of Equatoguinean public funds by Teodoro Ngueme Obiang Mangue, the son of the President of Equatorial Guinea. The article aims to shed some light on the international asset recovery regime established by the UNCAC, and how these rules could apply to the case.
IRAN ADVISES CITIZENS TO LEAVE UKRAINE
On 22 October, Eurasia Review reported that the Ministry of Foreign Affairs of Iran called on the Iranian nationals residing in Ukraine to leave that country for their own safety.
SOUTH KOREA: CHINA-BASED ONLINE GAMBLING RING BUSTED; 20 ARRESTED
On 23 October, the Yonhap News Agency reported that authorities had busted an online gambling ring based in China for illicit operations in South Korea, worth a total of $3.9 billion. Those arrested are accused of running the gambling sites from January of 2014 until July last year through the China headquarters in charge of a server and local operating units in South Korea.
CUSTOMERS BATTLE TO REGAIN BILLIONS IN BITCOIN THE DoJ RECOVERED IN ITS LARGEST SEIZURE OF STOLEN CRYPTO
On 20 October, CNBC reported on the aftermath of the $70 million from customers’ accounts on the Bitfinex trading platform in 2016 and the subsequent recovery of funds by the DoJ. It says that victims are embroiled in a battle over who is the legal owner of all that stolen crypto, with Bitfinex saying that it believes it’s already made its customers whole by providing them with a variety of digital tokens that customers could sell in exchange for cash after the hack.
ESTONIA: 4 SUSPECTED IN €8-MILLION CRYPTOCURRENCY FRAUD
On 19 October, EER reported that 4 men are under investigation in relation to alleged false information and market manipulation in regard to the Dagcoin crypto-currency they had set up and which had netted them close to €8 million.
SOUTH KOREA TO SET UP CYBERSECURITY TASK FORCE AFTER KAKAO DISRUPTIONS
On 18 October, the Korea Times reported that the presidential office announced a plan to establish a cybersecurity task force team to thwart threats and risks that can disrupt the nation’s key infrastructure after disruptions to Kakao’s ubiquitous messaging and settlement functions wreaked havoc on the nation.
MPs CALL FOR CRACKDOWN ON ADVISORS ENABLING TAX AVOIDANCE SCHEMES
On 24 October, City AM reported that a group of cross-party MPs in the all-party parliamentary group (APPG) on anti-corruption and responsible tax have called on the UK government to begin cracking down on the accountants and financial advisors that facilitate tax avoidance schemes.
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