EU-wide fuel oil and precious metals VAT fraud and money laundering network dismantled

Veröffentlicht: 15.01.2017 - 21:15 | Risk Prevention & Consulting

On 14 December 2016 judicial authorities and law enforcement from Spain dismantled a criminal organization whose modus operandi involved defrauding states on the VAT from oil and precious metals via a sophisticated carousel fraud scheme, and the money laundering of these gains through, various corporate structures, resulting in the loss of more than EUR 25 million in the hydrocarbon sector since 2015.