Latest news with #EuropeanPublicProsecutor'sOffice
Euronews
27-03-2025
- Politics
- Euronews
EPPO says inquiry opened into Bulgarian prosecutor for alleged wrongdoing
ADVERTISEMENT The European Public Prosecutor's Office (EPPO) says it has opened an inquiry into possible wrongdoing by one of its European Prosecutors. In a statement, EPPO said it had informed the European Parliament, the Council of the EU and the European Commission that it is investigating the Bulgarian European Prosecutor. EPPO did not give any further details about the alleged wrongdoing. EPPO is the independent public prosecution office of the European Union and is responsible for investigating and prosecuting crimes against the financial interests of the bloc.
Euronews
11-03-2025
- Business
- Euronews
Misuse of funds to VAT fraud: The state of combatting fraud across the EU
The European Public Prosecutor's Office had over 2,000 active fraud-related investigations by the end of 2024, with total estimated damages amounting to €24.8 billion. VAT fraud continues to be the most significant concern. ADVERTISEMENT At the end of 2024, the European Public Prosecutor's Office (EPPO) had 2,666 active investigations relating to fraudulent crimes - an increase of 38% from the previous year. This resulted in an estimated damage to the EU budget of €24.8 billion, which was 22,5% more than in 2023, according to the latest annual report of EPPO. EPPO investigates and prosecutes crimes affecting the financial interests of the EU, such as the misuse of funds, money laundering, VAT fraud, and corruption. More than half of the estimated €13.15 billion in damage is linked to cross-border VAT fraud. Germany (179) and Italy (149) recorded the highest numbers of active VAT fraud investigations amongst 22 EU countries, with an estimated total damage of €3.89 billion and €4.65 billion, respectively. "EU fraud has become highly attractive to very dangerous criminals, partly due to a historical uneven judicial response in this field," the European Chief Prosecutor, Laura Codruța Kövesi, explains. In November 2024, the EPPO carried out a vast investigation, code-named "Moby Dick", in the Italian cities of Milan and Palermo. This operation led to authorities freezing 129 bank accounts, and seizing 192 real estate properties, along with 44 luxury cars and boats. The suspects had established companies in Italy and other EU Member States, as well as in non-EU countries, to trade the goods through a fraudulent chain of missing traders that would vanish without fulfilling their tax obligations. Other companies in the fraudulent chain would subsequently claim VAT reimbursements from the national tax authorities. Related Spain busts international crime ring for alleged luxury car import tax scam Who has been reporting these crimes to EPPO? The EPPO processed 6,547 crime reports last year - a rise of 56% compared to 2023. Over 70% of the reports came from private parties and close to 27% from national authorities. Only 1,7% came from institutions, bodies, offices, and agencies of the EU. "There was still no improvement in terms of detection and reporting from their side, even three years after the start of EPPO operations," EPPO's annual report stated. From an economic recovery package to fraud suspicions By the end of 2024, the EPPO had 311 active cases related to NextGenerationEU, with 307 from the Recovery and Resilience Facility (RRF). ADVERTISEMENT This is about 17% of all spending fraud investigations. The primary methods of fraud related to the RRF include the submission of false, incomplete, or misleading information to unlawfully secure funds. Common tactics also involve the forgery and manipulation of invoices and contracts, often accompanied by false statements or documents intended to conceal disqualifying criteria. Bribery of public officials and bid rigging have also been instrumental in ensuring that contracts with inflated prices are awarded to specific companies.
Euronews
11-03-2025
- Business
- Euronews
How is fraud across the EU being tackled?
The European Public Prosecutor's Office had over 2,000 active fraud-related investigations by the end of 2024, with total estimated damages amounting to €24.8 billion. VAT fraud continues to be the most significant concern. ADVERTISEMENT At the end of 2024, the European Public Prosecutor's Office (EPPO) had 2,666 active investigations relating to fraudulent crimes - an increase of 38% from the previous year. This resulted in an estimated damage to the EU budget of €24.8 billion, which was 22,5% more than in 2023, according to the latest annual report of EPPO. EPPO investigates and prosecutes crimes affecting the financial interests of the EU, such as the misuse of funds, money laundering, VAT fraud, and corruption. More than half of the estimated €13.15 billion in damage is linked to cross-border VAT fraud. Germany (179) and Italy (149) recorded the highest numbers of active VAT fraud investigations amongst 22 EU countries, with an estimated total damage of €3.89 billion and €4.65 billion, respectively. "EU fraud has become highly attractive to very dangerous criminals, partly due to a historical uneven judicial response in this field," the European Chief Prosecutor, Laura Codruța Kövesi, explains. In November 2024, the EPPO carried out a vast investigation, code-named "Moby Dick", in the Italian cities of Milan and Palermo. This operation led to authorities freezing 129 bank accounts, and seizing 192 real estate properties, along with 44 luxury cars and boats. The suspects had established companies in Italy and other EU Member States, as well as in non-EU countries, to trade the goods through a fraudulent chain of missing traders that would vanish without fulfilling their tax obligations. Other companies in the fraudulent chain would subsequently claim VAT reimbursements from the national tax authorities. Who has been reporting these crimes to EPPO? The EPPO processed 6,547 crime reports last year - a rise of 56% compared to 2023. Over 70% of the reports came from private parties and close to 27% from national authorities. Only 1,7% came from institutions, bodies, offices, and agencies of the EU. "There was still no improvement in terms of detection and reporting from their side, even three years after the start of EPPO operations," EPPO's annual report stated. From an economic recovery package to fraud suspicions By the end of 2024, the EPPO had 311 active cases related to NextGenerationEU, with 307 from the Recovery and Resilience Facility (RRF). ADVERTISEMENT This is about 17% of all spending fraud investigations. The primary methods of fraud related to the RRF include the submission of false, incomplete, or misleading information to unlawfully secure funds. Common tactics also involve the forgery and manipulation of invoices and contracts, often accompanied by false statements or documents intended to conceal disqualifying criteria. Bribery of public officials and bid rigging have also been instrumental in ensuring that contracts with inflated prices are awarded to specific companies. ADVERTISEMENT
Arab News
06-03-2025
- Business
- Arab News
Italy police bust 70-mn-euro China tax dodge scheme
The freeze followed an investigation into a large-scale customs and tax fraud scheme led by EPPOThe suspects 'are under investigation for participating in a criminal organization committing multiple tax offenses 'ROME: Italy's financial police on Thursday froze over 70 million euros worth of assets in a sting targeting 17 people suspected of dodging tax on imports from China, including freeze followed an investigation into a large-scale customs and tax fraud scheme led by the European Public Prosecutor's Office (EPPO) in Rome and code-named 'Dragone' ('Big Dragon').Police in Rome and Florence executed a freezing order of 71.05 million euros ($76.76 million) targeting '17 suspects, four Italians and 13 of Chinese origin,' said an Italian police suspects 'are under investigation for participating in a criminal organization committing multiple tax offenses related to the import of goods, such as clothing, footwear, bags and various accessories,' said an EPPO allege that 'a criminal enterprise of Chinese entrepreneurs created a network of 29 companies operating in the provinces of Florence, Prato and Rome, to evade customs duties and VAT,' or value-added tax, it Chinese goods were cleared through customs in Bulgaria, Hungary and Greece and then transported to logistical hubs in were then moved multiple times 'between fictitious operators, accompanied by invoices for non-existent transactions,' EPPO said.'To avoid detection, the companies involved only existed for around two years before being replaced by new ones to allow the fraudulent scheme to continue,' it added.
Reuters
06-03-2025
- Reuters
EU charges dozens of Greek livestock farmers with fraud
March 6 (Reuters) - European prosecutors have charged dozens of Greek stockbreeders who received EU financial aid with making false declarations of ownership or leasing of pastureland. The overall damage to the EU budget is estimated at 2.9 million euros, the European Public Prosecutor's Office said in a statement. The majority of the 100 suspects, it said, did not live where they had declared in their applications. "According to the investigation, the suspects submitted false declarations of ownership or falsified lease contracts of plots of land which in reality they did not own or had not leased," it said. The funds they received were from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development, and paid out by the Greek Payment Authority of Common Agricultural Policy (CAP) aid scheme. The cases will be heard before Greek courts in March and May. The suspects face up to five years in prison and a fine.
