Regulatory Watch News

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  Two Slovak citizens imprisoned, confiscation orders of over €20.5 million – second and third convictions in Germany in cross-border VAT evasion case

  European Public Prosecutor's Office

  May 26, 2022

  In November 2021, six people were arrested in Czechia, Romania and Slovakia on suspicion of forming a criminal organisation. One of these suspects was convicted in April 2022, and this week two more suspects were convicted by the Munich I Regional Court (Landgericht München I). The members of the criminal organisation controlled a so-called VAT carousel scheme, which involved the repeated circulation of platinum coins through the same companies. As some of these companies did not fulfil their tax obligations, their criminal activities led to an estimated tax loss in Germany of at least €23 million. The core of the criminal activity was located in Hamburg, Chemnitz and Munich (Germany), and the money laundering was primarily organised in Czechia and Slovakia, with links to Romania.

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  Nearly 40 tonnes of counterfeit cigarettes seized in France

  Europol

  May 26, 2022

  French Customs (Direction générale des douanes et droits indirects), supported by Europol, arrested two suspected members of a criminal gang smuggling cigarettes from Asia to Europe. The suspects were indicted and currently remain in custody. The investigation, involving several customs services and the assistance of the French network of customs attachés (especially in Dubai), led to the seizure of 40 tonnes of counterfeit cigarettes in the Marseille and Paris regions in March 2022. The criminal activities were conducted by an international criminal organisation operating from Asia. The organisation shipped counterfeit cigarettes by container from the Caribbean, the Middle East and Africa, by impersonating the names of importers.

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  9th Asian Monetary Policy Forum to Address the Conduct of Monetary Policy in the Current Challenging Environment

  MAS

  May 26, 2022

  Singapore, 26 May 2022…The 9th Asian Monetary Policy Forum (AMPF) will take place in Singapore today and tomorrow, bringing together leading policymakers and academics to focus on issues confronting the conduct of monetary policy in today’s complex environment. After two years of meeting virtually, the hosts are delighted to welcome many attendees in person, while the event’s hybrid format will continue to allow remote participation.