Compliance & Anti-Financial Crime
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EU/Europe, Financial Crime, Regulatory

VAT fraud scheme shut down in major first for European public prosecutor; millions in assets seized; EPPO chief says operation represents a ‘paradigm shift’

By Dan Byrne for AMLi

A suspected VAT-fraud scheme that re-sold the same cars multiple times in different EU countries has been shut down.

Ten people – three of whom with suspected links to the Italian ‘Ndrangheta mafia cartel – were arrested in a coordinated morning of action by the new European Public Prosecutor’s Office (EPPO).

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