- A German court confirmed that a Hawala-style informal transfer network was used to move proceeds from a major intra-EU VAT fraud scheme that caused about €200 million in losses to EU and national budgets.
- In the EPPO “Goliath” case, two defendants were convicted for involvement in an organised VAT fraud network built around electronics trading, shell companies, and concealed cross-border financial activity.
- The Turkish defendant received 7 years and 2 months for acting as a de facto manager, including VAT fraud in 26 cases and involvement with 10 shell companies.
- The Danish defendant received 5 years and 8 months for supporting the criminal organisation and assisting VAT fraud in five cases.
- The judgment highlights how Hawala can obscure the movement of fraud proceeds, though the court did not quantify how much of the €200 million loss was transferred through the informal network.
Source: fincrimecentral.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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