Tag: AML/CFT

Regulatory Watch News

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  OLAF and Polish authorities uncover major VAT import fraud scheme

  OLAF

  April 30, 2025

  Close cooperation between the European Anti-Fraud Office (OLAF) and Polish national authorities has led to the uncovering of a sophisticated VAT fraud scheme involving goods imported from China into the European Union. Acting on intelligence and information provided by OLAF, Polish authorities carried out a criminal investigation, resulting in the arrest of four individuals and searches at 50 locations across the country. Working closely with customs and fiscal authorities in Poland, Germany, Czechia, Lithuania, and Latvia, OLAF identified a complex network exploiting the so-called "customs procedure 42"—a mechanism that allows for deferred VAT payments on goods imported into one Member State and transported to another.

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  INTERPOL targets stolen vehicle trafficking in West African police operation

  Interpol

  April 30, 2025

  LYON, France: An international police operation targeting vehicle crime in West Africa has led to the detection of approximately 150 stolen vehicles and the seizure of more than 75 vehicles. Coordinated by INTERPOL and carried out by national law enforcement agencies in 12 West African countries, the operation – codenamed ‘Safe Wheels’ – also initiated 18 new investigations and uncovered the involvement of two organized crime groups. Most of the stolen vehicles detected through INTERPOL’s Stolen Motor Vehicle (SMV) database were trafficked from Canada, while many had also been reported stolen in France, Germany and the Netherlands. INTERPOL’s SMV database allows police in the Organization’s 196 member countries to run a check against a suspicious vehicle and find out instantly whether it has been reported as stolen. In 2024, around 270,000 vehicles were identified as stolen globally through the SMV database.

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  Italy: EPPO seizes assets in investigation into EU funding fraud involving ceramic production

  European Public Prosecutor's Office

  April 30, 2025

  (Luxembourg, 30 April 2025) – At the request of the European Public Prosecutor’s Office (EPPO) in Palermo (Italy), a freezing order of €800 000 was issued against five individuals and one company suspected of EU funding fraud involving ceramic production. The Italian Financial Police (Guardia di Finanza) of Sant’Agata di Militello subsequently seized real estate, bank accounts and cash found in the possession of the suspects.