US$1.6 trillion lost in potential trade misinvoicing in 2018 amongst developing and advanced countries says GFI report
An estimated US$1.6 trillion in potential trade misinvoicing among 134 developing countries has been identified in 2018 according to a new report published by Global Financial Integrity (GFI). Trade-related Illicit Financial Flows in 134 Developing Countries 2009-2018 says that of that US$1.6 million, US$835 billion occurred between the…
Fraud based on vegetable oil trade in Poland and Germany revealed
Investigators in Poland and Germany have unearthed a fraud scheme that revolved around the trade of vegetable oil and caused the Polish treasury to lose an estimated €17.8 million (US$21.8 million) in tax. Poland’s Centralne Biuro Antykorupcyjne (Polish Central Anti-Corruption Bureau) and Germany’s Finanzamt für…
