Category: CFT

Regulatory Watch News

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  Investigation Huracán: Ninth person convicted in Germany in large-scale VAT fraud

  European Public Prosecutor's Office

  July 10, 2025

  (Luxembourg, 10 July 2025) – Following a large-scale VAT fraud investigation led by the European Public Prosecutor’s Office (EPPO) in Cologne (Germany), code-named ´Huracán´, one individual was convicted this week by the Regional Court in Düsseldorf for VAT fraud. This is the ninth person to be convicted. The indictment against this suspect has been transmitted at the end of February this year to the Regional Court in Düsseldorf (Germany), accusing him of a multimillion VAT fraud concerning the international trade of cars.

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  The Bank of England fines Vocalink Limited £11,900,000 for a compliance failure

  Bank of England

  July 10, 2025

  The Bank of England (the “Bank”) has fined Vocalink Limited (“Vocalink”) £11,900,000 in respect of a compliance failure under section 196 of the Banking Act 2009 (the “Act”). This is the first time the Bank has fined a financial market infrastructure firm. Vocalink has been regulated by the Bank since April 2018 as a specified service provider, a type of financial market infrastructure firm involved in the operation of UK payments systems.

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  SA man charged over alleged involvement in 62kg cocaine importation

  Australia Federal Police

  July 10, 2025

  The AFP has charged a South Australian man for his alleged involvement in a plot to import 62kg of cocaine into Australia concealed in mechanical equipment. The man, 29, is expected to appear before the Adelaide Magistrates Court on 1 October, 2025, after being charged on Monday (7 July, 2025). In February 2025, using risk-based targeting, Australian Border Force (ABF) officers at the Sydney container examination facility searched a consignment addressed to a business in Adelaide.