EU WARNS UK-CENTRED CHINA IMPORT SCAM MAY SHIFT TO EUROPE’S ‘SILK ROAD’

On 6th June, EurActiv reported that EU anti-fraud investigators suspect Greece and Hungary may have become the main EU centers of a multi-million-euro scam involving imports of Chinese clothing and footwear that uses the infrastructure of China’s new “Silk Road”.  The large-scale fraud, which involves underdeclaration the value of imported goods to pay lower duties and sales taxes, was first uncovered in the UK, where it had gone on for years, prompting the European Commission this year to demand that London pay €2.7 billion in lost customs duties to the EU budget.  Officials at the EU anti-fraud agency OLAF said they now suspected the scam could have shifted to Hungary and to the port of Piraeus in Athens.

https://www.euractiv.com/section/justice-home-affairs/news/eu-warns-uk-centered-china-import-scam-may-shift-to-europes-silk-road/

See also an earlier report –

https://www.euractiv.com/section/eu-china/news/olaf-suspects-vat-fraud-at-chinas-new-gateway-to-europe/

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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