Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

EU, Financial Crime, Fraud

NEWS: EPPO indicts suspected leader of €297M VAT fraud scheme

Picture: Courtesy of the European Public Prosecutor’s Office

By PAUL O’DONOGHUE, Senior Correspondent

THE European Public Prosecutor’s Office (EPPO) in Latvia has indicted the suspected leader of a €297 million VAT fraud scheme uncovered during the ‘Admiral 2.0’ investigation.

This large-scale fraud exploited EU rules on cross-border transactions, which exempt such trades from value-added tax.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!