The Hungarian National Tax and Customs Administration (NTCA) has dismantled an organised criminal group (OCG) suspected of facilitating VAT fraud and money laundering.
The criminal activities caused more than EUR 8.2 million in tax loss to the Hungarian state budget. The OCG used ‘missing traders’ based in Hungary and Croatia. Using fictitious contracts, the ‘missing traders’ were commissioned to perform services, which they did not have the necessary means to perform. The companies were found to have no employees, equipment, or premises.