EPPO VAT Fraud Investigation Nets €195 Million

April 25, 2024

The European Public Prosecutor’s Office (EPPO) conducted extensive raids across 17 countries, dismantling a criminal network involved in a staggering €195 million VAT fraud scheme. In this major EPPO VAT fraud investigation, dubbed Operation Midas, the operation led to over 180 searches, 14 arrests, and the seizure of significant assets, including electronics, vehicles, and cryptocurrency. The alleged fraud involved the sale of smartphones, other small electronics, and protective face masks, taking advantage of a loophole in EU cross-border VAT rules.

Source: EPPO News


The EPPO’s actions highlight the ongoing battle against large-scale VAT carousel fraud, a major focus of EPPO VAT fraud investigations. This scheme exploits the complexities of the EU’s cross-border tax systems. The COVID-19 pandemic’s demand for protective equipment provided another avenue for exploitation by criminal organizations. In essence, this case underscores the growing sophistication of these schemes and the vital importance of robust transnational cooperation in combating financial crime.



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Source: Brainwave Science