Italian and Chinese Mafias Suspected in Romanian VAT Fraud, Says EPPO Chief

• Italian and Chinese mafias may be involved in VAT fraud in Romania
• Italian mafia has committed fraud with European funds in Romania
• Vulnerabilities in Romania’s tax system are being exploited
• Romania is not protected from VAT fraud and online market activities
• Artificial intelligence and cryptocurrency trading are used for money laundering
• Organized crime groups are international, involving various nationalities
• Groups have access to experts to exploit vulnerabilities in EU member states
• Romania has the largest VAT collection deficit in the EU
• Detection and reporting of VAT frauds in Romania are very low
• Only 12 out of nearly 400 cases investigated involved VAT fraud in Romania

Source: romania-insider.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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