NEWS: FIUs in Switzerland, Italy and Vatican City discuss vIBANs ML risks

Regulatory Watch News

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  Leader of drug trafficking organization sentenced to 234 months for fentanyl analogue distribution and money laundering conspiracies

  IRS-Criminal Investigation

  June 4, 2026

  Newark, NJ – An Essex County man and one of the leaders of a drug trafficking organization responsible for the importation and distribution of hundreds of kilograms of fentanyl analogues was sentenced today to 234 months in prison, U.S. Attorney Robert Frazer announced. “Today’s sentence sends an important reminder: those who profit from trafficking deadly drugs and laundering the proceeds of their crimes will be held accountable. For years, Padovano helped lead an organization responsible for distributing massive quantities of fentanyl analogues and other dangerous controlled substances in New Jersey. This sentence—nearly twenty years in prison—reflects the devastating harm caused by that conduct and our Office’s unwavering commitment to dismantling the organizations that fuel the illegal drug trade.” - U.S. Attorney Robert Frazer

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  4th annual OLAF Expenditure Conference takes place in Cyprus

  OLAF

  June 4, 2026

  The European Anti-Fraud Office (OLAF), in cooperation with the Cyprus Presidency of the Council of the European Union and AFCOS Cyprus¹ , hosted the 4^th annual OLAF Expenditure Conference this week in Ayia Napa, Cyprus. The conference brought together high level representatives from European institutions, Member States and specialised anti-fraud authorities to discuss the protection of the European Union’s financial interests and the future of the EU anti-fraud framework in the context of the next Multiannual Financial Framework (MFF) 2028 to 2034.

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  Fake document factory dismantled in Spain: around 800 IDs seized

  Europol

  June 4, 2026

  A French-led investigation, supported by Spain and Europol, led to the dismantling of a counterfeit document production facility in Alicante, Spain. The investigation involved the French National Police (Police Nationale/OLTIM) and the Spanish National Police (Policía National/UCRIF). The operational actions on 27 May 2026 led to one arrest and the seizure of approximately 800 forged European documents, document-production equipment, digital devices, a vehicle, and EUR 1 580 in cash. The search of the apartment, rented under a false name, uncovered a fully operational counterfeit document workshop, highlighting the industrial-scale production methods increasingly used by organised crime groups involved in document fraud.