Regulatory Watch News

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  France: Three convicted over US yacht import customs fraud

  European Public Prosecutor's Office

  March 9, 2026

  (Luxembourg, 9 March 2026) – The European Public Prosecutor’s Office (EPPO) in Paris (France) has secured the conviction of two individuals and one company in a case involving the fraudulent import of a yacht from the US. The case involved the deliberate undervaluation of the customs value of a high-speed Cigarette boat. Imported by a French company based near Bordeaux in July 2019, the vessel’s true value – USD 745,784 (approximately €686 000) – was concealed through false information and inaccurate documents. This misdeclaration caused an estimated loss to the EU budget of over €100 000.

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  EPPO: Council confirms Andrés Ritter as the new European chief prosecutor

  European Council

  March 9, 2026

  The Council today agreed to the appointment of Andrés Ritter as the new European chief prosecutor to the European Public Prosecutor's Office (EPPO) with effect from 1 November 2026. Andrés Ritter joined Germany’s prosecution service in 1995 and headed various prosecution offices. Ritter has been deputy European chief prosecutor since 2020. The EPPO is an independent body of the EU responsible for investigating, prosecuting and bringing crimes against the financial interests of the Union (e.g. fraud, corruption, cross-border  VAT fraud above €10 million) to judgment.

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  How do we keep payments secure and future-proof for everyone?

  DNB

  March 9, 2026

  The Netherlands currently relies heavily on non-European payment service providers – and that makes us vulnerable. Consumers and businesses should be able to opt for European digital payment instruments that can be used to pay anywhere in Europe. This is why Europe is promoting more European payment instruments such as:

  • Wero, the new European payment solution to be introduced in the Netherlands from 2026.
  • The digital euro, a reliable digital alternative to cash that can be used both online and offline.