The Cum-Ex and Cum-Cum tax fraud schemes, first revealed in 2001, are responsible for substantial financial losses, estimated at over 140 billion globally. Germany alone suffered nearly 29 billion in losses between 2000 and 2020. Despite the schemes being publicly known, enforcement remains weak as authorities often claim ignorance. Whistleblowers in the finance industry have testified that these practices persist across various European nations including Belgium, France, and others. Legal loopholes contribute to these fraudulent schemes, highlighting the need for prosecutors to scrutinize how these transactions are executed.
The Cum-Ex and Cum-Cum tax schemes caused substantial financial losses, specifically about 29 billion euros for Germany alone, with global estimates over 140 billion.
Despite the public knowledge of Cum-Ex tax fraud schemes, authorities claim they remain unaware of ongoing activities, highlighting a significant issue in enforcement.
Key whistleblowers, still in the finance sector, have testified that Cum-Ex and Cum-Cum practices continue beyond Germany, affecting multiple European countries.
Legal loopholes enable Cum-Ex and Cum-Cum schemes, necessitating a deeper investigation by prosecutors to understand the fraudulent operations fully.
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