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Regulatory Watch News

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  Treasury Targets Entities Procuring Sensitive Machinery for Iran’s Defense Industry

  OFAC

  June 20, 2025

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating one individual and eight entities, and identifying one vessel as blocked property, for their involvement in the procurement and transshipment of sensitive machinery for Iran’s defense industry.  The vessel, SHUN KAI XING, owned by Hong Kong-based Unico Shipping Co Ltd, was carrying this machinery for OFAC-designated Rayan Roshd Afzar Company (RRA) and Towse Sanaye Nim Resanaye Tarashe, a company controlled by RRA executives.  Today’s action is being taken in furtherance of National Security Presidential Memorandum-2, which directs that Iran be denied the development of missiles and other weapons capabilities and that the Islamic Revolutionary Guard Corps (IRGC) and its surrogates be disrupted, degraded, or denied access to the resources that sustain their destabilizing activities.

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  EFCC Arraigns Medical Doctor for Alleged N39.1m Visa Fraud in Port Harcourt

  EFCC

  June 20, 2025

  The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Thursday,  June 19, 2025 arraigned one Dr. Nekabari Dambere Nathan, a Port Harcourt-based medical doctor before Justice P. I. Ajoku of the Federal High Court, sitting in Port Harcourt, Rivers State for fraud. Nathan was arraigned alongside his Global Horizons Academy Ltd on a one-count charge, bordering obtaining by false pretence and advance fee fraud to the tune of N N39,157,000,00 (Thirty-nine Million, One Hundred and Fifty-seven Thousand Naira).

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  TIBER-LU Implementation document

  CSSF

  June 20, 2025

  Following the entry into force of the Digital Operational Resilience Act (DORA), in particular the Threat Led Penetration Testing (TLPT) requirements, and the publication of the revised TIBER-EU Framework by the ECB on 11 February 2025, the Banque centrale du Luxembourg (BCL) and the Commission de surveillance du secteur financier (CSSF) decided to revise the TIBER-LU framework for controlled cyber-attacks, which was implemented jointly on 3 November 2021. This revision marks an important step for the continuation of the TIBER-LU programme after the entry into force of DORA and its TLPT component.