Unlike traditional tap changers, which require transformers to be de-energized before making changes, On-Load Tap Changers (OLTCs) can adjust taps while the transformer is in service, ensuring continuous power supply during voltage regulation. OLTCs enhance grid reliability and support load balancing, reducing strain on the network and optimizing power quality. Their importance has grown as the demand for stable voltage and the integration of renewables has increased, making them vital for modern and resilient power systems. While enhanced OLTCs often incorporate stronger materials and improved designs, mechanical components like contacts and diverter switches can still experience wear over time. This can result in longer maintenance intervals. In the era of digitalization, advanced diagnostic techniques capable of detecting early signs of wear or malfunction are essential to enable preventive maintenance for these important components. This contribution introduces a novel method for detecting faults and irregularities in OLTCs, leveraging vibroacoustic signals to enhance OLTC diagnostics. This paper proposes a tolerance-based approach using the envelope of vibroacoustic signals to identify faults. A significant challenge in this field is the limited availability of faulty signal data, which hinders the performance of machine learning algorithms. To address this, this study introduces a nonlinear model utilizing amplitude modulation with a Gaussian carrier to simulate faults by introducing controlled distortions. The dataset used in this study, with data recorded under real operating conditions from 2016 to 2023, is free of anomalies, providing a robust foundation for the analysis. The results demonstrate a marked improvement in the robustness of detecting simulated faults, offering a promising solution for enhancing OLTC diagnostics and preventive maintenance in modern power systems.