INSIGHT: Key AML concerns as Peter Thiel’s Erebor Bank gets conditional OCC approval

Regulatory Watch News

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  JCO VAPE: OLAF and international customs authorities crack down on illegal trade in e-cigarettes

  OLAF

  April 17, 2026

  The European Anti-Fraud Office (OLAF), together with customs authorities from 30 countries, has successfully carried out a large-scale operation targeting the illicit trade in e-cigarettes and heated tobacco products. The Joint Customs Operation, (JCO) VAPE resulted in the seizure of over 94 million pieces and over 2,500 kg/l of tobacco products, e-cigarettes, devices, and related goods. This operation (which ran from 14 November to 15 December 2025) marks the first EU and international Joint Customs Operation specifically focused on this rapidly growing commodity. Its results clearly demonstrate both the effectiveness and the necessity of coordinated cross-border action to tackle an increasingly complex and evolving form of fraud.

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  Scam alert related to banks

  HKMA

  April 17, 2026

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press release issued by the bank listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which has been reported to the HKMA. Hyperlink to the press release is available on the HKMA website.  

  Bank	Type of Scam
  The Hongkong and Shanghai Banking Corporation Limited	Phishing instant messages

   

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  Four men charged following the seizure of $800,000 cash and illicit tobacco products in Sydney

  Australia Federal Police

  April 17, 2026

  A New South Wales man, expected to appear in the Downing Centre Local Court today (17 April, 2026), is one of four men charged following the seizure of $800,000 in cash and a significant haul of illicit tobacco products in Sydney. The AFP alleges the four men - all charged this week - are part of crime syndicate involved in money laundering and the large-scale supply of illicit tobacco products. In late March and April this year, the AFP executed search warrants at homes in Strathfield and Eastgardens, a retail outlet in Bondi Junction, a warehouse in Banksmeadow, and on a vehicle in Surry Hills.