INSIGHT: What banks need to know on FinCEN’s warning of Chinese money laundering

Regulatory Watch News

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  Ironside: Sydney airport worker jailed over role in 127kg pseudoephedrine importation

  Australia Federal Police

  August 11, 2026

  A Sydney airport worker was sentenced to two years and four months' imprisonment, with a non-parole period of 18 months, by the NSW District Court today (11 August, 2026) for his role in supporting a criminal organisation to import 127kg of pseudoephedrine. The man, 56, was arrested in June, 2021, after an AFP investigation linked him to the illicit activity as a result of intelligence gained during the AFP-led Operation Ironside. Operation Ironside was a three-year operation during which the AFP and FBI monitored criminals' encrypted communications through a dedicated encrypted communications platform.

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  Statement from Minister Helen McEntee on the extradition of an Irish national from the United Arab Emirates

  Irish Government

  August 10, 2026

  “I welcome today’s extradition of an Irish national from the United Arab Emirates to face charges here in Ireland.

  “Today is the culmination of years of determined work by An Garda Síochána, successive Governments and officials to ensure that those suspected of serious and organised crime cannot evade the Irish justice system.

  “I want to pay particular tribute to the late John O’Driscoll and former Garda Commissioner Drew Harris for their efforts to tackle serious organised crime and strengthen cooperation with our international law enforcement partners.

  “As Minister for Justice and in the years leading up to the signing of the extradition treaty in October 2024, I saw first hand the tireless efforts of the Garda National Drugs and Organised Crime Bureau, the Office of the Director of Public Prosecutions, the Department of Justice and the UAE government, the Department of Foreign Affairs, and every agency involved in bringing us to this point.”

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  Italy: House arrests, seizures and searches in €33 million VAT fraud investigation involving the import of clothing from China into the EU

  European Public Prosecutor's Office

  August 10, 2026

  (Luxembourg, 10 August 2026) – At the request of the European Public Prosecutor’s Office (EPPO) in Venice (Italy), the judge for preliminary investigations at the Court of Milan issued a house arrest order against two individuals suspected of having managed and used several companies to commit a VAT carousel fraud with an estimated damage of over €33 million, involving the import of clothing from China into the EU.