Crime Groups Shifting To Fraud Schemes In EU: Bloc's Prosecutor

Criminal groups are shifting from 'very risky' drug trafficking to lucrative fraud, the EU's chief prosecutor Laura Kovesi says (Credit: AFP)

Organised criminal groups are switching from riskier drug rackets to fraud in the EU and many don't hesitate to use violence to protect their activities, the bloc's chief prosecutor told AFP in an interview.

Laura Kovesi said that value-added tax (VAT) fraud accounted for 59 percent of the estimated 19 billion euros ($21 billion) in damage to the EU budget arising from cases opened for investigation last year by her European Public Prosecutor's Office (EPPO).