Europol, the European police consortium, has issued the following press release:
Carbon Credit fraud causes more than 5 billion euros damage for European Taxpayer
The European Union (EU) Emission Trading System (ETS) has been the victim of fraudulent traders in the past 18 months. This resulted in losses of approximately 5 billion euros for several national tax revenues. It is estimated that in some countries, up to 90% of the whole market volume was caused by fraudulent activities.
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