The operation, codenamed Admiral 2.0, mobilized over 600 law enforcement officers in raids across 16 countries. Preliminary estimates point to an additional €297 million ($313.93 million) in VAT losses linked to the previously discovered scheme. The fraudulent network, primarily based in the Baltics, mirrored techniques exposed in the original operation, launched in 2022. That operation revealed €2.9 billion ($3.06 billion) in tax fraud in the European Union. The syndicate exploited EU rules on cross-border transactions, selling €1.48 billion ($1.56 billion)
Source: OCCRP, 2024-11-30; https://www.occrp.org/en/news/eu-cracks-down-on-eur297m-vat-fraud-linked-to-organized-crime