Tag: Napier AI
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Regulatory Watch News
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
(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.
AUSTRAC orders Cryptolink’s crypto ATMs offline
Austrac
AUSTRAC has suspended Cryptolink Pty Ltd’s registration amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations. Cryptolink is a Virtual Asset Service Provider (VASP) that operates a network of cryptocurrency automatic teller machines (CATMs) across Australia. CATMs allow customers to exchange cash for cryptocurrency. AUSTRAC CEO Brendan Thomas said Cryptolink’s VASP registration was suspended for three months from Sunday 9 August and it is no longer allowed to operate its 96 CATMs. “As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company's ability to manage high-risk transactions through its CATMs,” Mr Thomas said.
Two SA men charged following drug and money laundering investigation
Australia Federal Police
A South Australian man accused of an illicit cash handover is the eleventh person charged as part of an investigation into an alleged drug and money laundering syndicate operating across Australia. Ten people in Western and South Australia were charged earlier this year after police seized 114kg of methylamphetamine, 6.3kg of heroin, 4kg of ketamine and more than $1.1 million in suspected proceeds of crime.
