As previously discussed, Great Britain is undeniably the frontrunner in financial crime in Europe. Being one of the global headquarters for financial services comes with a high price for the British people. In 2023, Britons lost about £459.7mn to Authorised Push payment fraud — which includes purchase scams, online investment
Over the past few years, we have learned that cybercriminals are not afraid of all of European law enforcement’s capabilities. Cross-border criminal investigations—in the rare case when opened—take years without any action. So, cybercriminals can make an excellent life for themselves for years with the victims’ money: expensive cars, expensive
The package of legislative proposals On 21 July 2021, the European Commission presented a package of legislative proposals designed to combat money laundering, terrorist financing and sanctions evasion. . This proposed AML/CFT Package included four pieces of draft legislation which consist of: The EU “single rulebook” Regulation ( “AMLR” ):
EFRI is the abbreviation for European Funds Recovery Initiative. The legal entity behind this Initiative is a not-for-profit organisation (EFRI-Association) registered in Vienna, Austria. Here you can read the statutes of the not-for-profit organization. Read More
