Critics of the EU often point to the abuse of structural funds (€703m, up 17% with 60 out of 95 audited projects showing “material errors” in last audit.)
Yet, this fraud pales when compared to VAT fraud, a crime typically associated with our industry, with our small-but-valuable (and easily portable) components and devices such as chips and phones.
Carousel and VAT fraud is a giant that dwarves Europeans' other favorite financial fiddles, For example, carousel fraud accounted Continue reading...