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Regulatory Watch News

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  Charge upgraded for WA man allegedly involved in cross-border $1.69 million cash and tobacco trafficking

  May 9, 2025

    The AFP has upgraded a charge against a West Australian man scheduled to appear in Perth Magistrates Court today (9 May, 2025) over his alleged role in an illicit tobacco smuggling syndicate. The AFP initially charged the Baldivis man, 26, on 28 March, 2025, with proceeds of crime and illicit tobacco offences after seizing bundles of cash that were concealed in microwave ovens waiting to be shipped to Melbourne, as well as thousands of illicit tobacco products.

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  The EBA updates technical standards on resolution planning reporting

  European Banking Authority

  May 8, 2025

  The European Banking Authority (EBA) today published its updated final draft implementing technical standards (ITS) on resolution planning reporting. This comprehensive review of the ITS on the provision of information for the purposes of resolution plans seeks to achieve full harmonisation of reporting requirements in the EU and avoid duplication of data requests, thus reducing the cost of compliance with resolution planning reporting obligations by institutions. Proportionality has been a key driver of this regulatory product.

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  Sixteen searches in Belgium, Germany, Portugal and the Netherlands in customs fraud investigation involving e-bikes from China

  European Public Prosecutor's Office

  May 8, 2025

  (Luxembourg, 8 May 2025) – The European Public Prosecutor’s Office (EPPO) in Porto (Portugal) is leading an investigation into suspected large-scale customs fraud related to the import of e-bikes from China. Sixteen searches were conducted yesterday in Belgium, Germany, the Netherlands and Portugal, in order to collect evidence. The investigation, codenamed Pedelecs, revealed that, since 2020, a Portuguese company has been importing disassembled electric bicycles (e-bikes) from Chinese suppliers in separate parts, with the aim of circumventing the payment of anti-dumping duties applicable on the importation of fully assembled e-bikes. For that purpose, the consignments were deliberately misdeclared to the customs authorities.