During a global operation, authorities from around the globe took down an encrypted communication platform used for criminal activities such as drug trafficking, homicide, corruption and money laundering. The wide scale operation, supported by Eurojust and Europol, led to over 50 arrests and the seizing of financial assets. Continue reading…

The FCA has charged Mr Olumide Osunkoya, who is 45 and resides in London, for unlawfully running multiple crypto ATMs without FCA registration. Crypto ATMs are machines that allow you to buy or convert money into cryptoassets. Mr Osunkoya is accused of running crypto ATMs, which processed £2.6m in crypto transactions across multiple locations between 29 December 2021 and 8 September 2023 without the required registration. Continue reading…

by Margrethe Vestager

Today is a big win for European citizens and for tax justice. The Court of Justice confirms the decision from 2016 by the European Commission: Ireland granted Apple unlawful aid which Ireland now has to recover.  And this judgement is final. The Court also confirms the Commission’s decision in the Google Shopping antitrust case. And also this is a final judgment. Let me first talk about Apple case and the judgment in itself. It is a win for the Commission. It is also a win for the level playing field in the Single Market, and for tax justice. Continue reading…

The seven members of the Eurojust-supported joint investigation team (JIT) on alleged core international crimes committed in Ukraine have agreed to amend the JIT Agreement to enhance investigations on crimes of torture, ill-treatment and filtration. The JIT meeting took place in Kyiv on 10 September, just before the start of the recently held United for Justice Conference. Over the last two and a half years, the JIT’s operations have significantly strengthened the capacity of member states to investigate Russian war crimes, laying a solid legal foundation for gathering, preserving, and exchanging evidence.

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The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have on 10 September issued their Autumn 2024 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report underlines ongoing high economic and geopolitical uncertainties. The ESAs warn national supervisors of the financial stability risks stemming from these uncertainties and call for continued vigilance from all financial market participants. For the first time, the Report also includes a cross-sectoral deep dive into credit risks in the financial sector. Continue reading…

A three-year investigation has led to the charging of three Belarusian nationals for deceitfully seizing a Polish aircraft in Belarus to arrest a dissident. The forced landing in Minsk of a commercial flight caused a direct threat to the life and health of the 132 passengers and unlawfully deprived the crew and passengers of their liberty. Eurojust supported this high-profile case from the start of the investigations by Polish and Lithuanian authorities in 2021.

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by Ajay Katara

The Basel guidelines, developed by the Basel Committee on Banking Supervision (BCBS), have evolved through three major iterations. Basel I, introduced in 1988, focused on credit risk, setting minimum capital requirements for banks. Basel II, launched in 2004, expanded the framework by including operational risk and enhancing risk management practices. Basel III, initiated in response to the 2008 financial crisis, introduced stricter capital and liquidity requirements to improve banking sector resilience. The Basel III Endgame (B3E) is the latest version of the reforms which are planned to be implemented by 2025 and will bring about significant changes in the US Risk based capital framework. Continue reading…

An illegal trading scheme in counterfeit and banned pesticides and fertilisers that were potentially dangerous to consumers’ health has been halted by the Romanian and Italian authorities. Eurojust and Europol supported the joint investigation team (JIT). During a series of actions in both countries, evidence of large-scale fraud, forgery and tax evasion was gathered and one suspect was arrested.

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The Financial Stability Board (FSB) recently published a toolkit for financial authorities and financial institutions for their third-party risk management and oversight. The toolkit was developed in response to concerns over the extent and nature of financial institutions’ interactions with a broad and diverse ecosystem of third-party service providers, which could have implications for financial stability. Continue reading…