Category: Banking

Regulatory Watch News

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  France: EPPO conducts searches in probe into large-scale VAT carousel fraud

  European Public Prosecutor's Office

  June 29, 2026

  (Luxembourg, 29 June 2026) – At the request of the European Public Prosecutor’s Office (EPPO) in Paris (France), searches were carried out in the Paris region and six individuals were questioned as part of an investigation into a suspected multi-million VAT fraud scheme. The investigation concerns a suspected VAT ‘carousel’ fraud – a complex criminal scheme that takes advantage of EU rules on cross-border transactions between its Member States, as these are exempt from value-added tax (VAT), with an estimated damage amounting to around €13 million in evaded VAT. The investigation also concerns money laundering and participation in a criminal organisation involving 26 French companies, mainly based in the Ile-de-France region.

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  Update to UK Sanctions List: Global Irregular Migration Regime (RE-ISSUE)

  UK Government

  June 29, 2026

  On Thursday 28 May, the UK Government amended the designations of four individuals sanctioned under the Global Irregular Migration Sanctions Regime. Amended Individuals:

  Name:	Unique ID:
  Deepak Kumar Taraknath PANDEY	GIM0056
  Manjeet SINGH	GIM0057
  Mohammad Sufiyan Dawood Ahmad DARAGUR	GIM0064
  Rakesh Taraknath PANDEY	GIM0065

   

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  Airline employee charged over alleged heroin import into Melbourne

  Australia Federal Police

  June 29, 2026

  The AFP has charged an airline employee for allegedly importing more than 1kg of heroin into Melbourne last week. The Thai national, 26, was performing work duties on board an international flight when she arrived at Melbourne Airport on 25 June, 2026, and had her baggage screened by Australian Border Force (ABF) officers. ABF officers identified anomalies during an X-ray examination of the woman’s 12 tote bags. Further examinations revealed a white powder concealed within the lining of the bags, with presumptive testing allegedly returning a positive reading for heroin.