Is combating the shadow economy like firefighting? 

A survey about the shadow economy targeted at the authorities yielded plenty of information on challenges faced in combating it. The answers show that the shadow economy is becoming more international, professional and serious. As a solution, they would like to step up cooperation and have a broader mandate to enhance their control efforts.

Prevent VAT fraud in your business

You may unintentionally participate in fraudulent trading, where someone in the trading chain attempts to avoid value added tax (VAT). All companies, whatever the size or line of business, face the risk of becoming involved in fraudulent activities. 

Shadow economy in east-west trade takes many forms

The land border between Finland and Russia as an external border of the EU is an important commercial route that also attracts illegal transfers of money and goods. Unclear business transactions concern companies registered in different countries and the responsible persons in these Finnish companies are not usually Finnish citizens.

The big picture of the grey economy and economic crime

The website on the grey economy and economic crime www.grey-economy-crime.fi provides summarised information on the grey economy and economic crime in Finland. The website is maintained through the cooperation of the authorities engaged in combating the grey economy. Further information on the authorities is available under the section About this website.

The website will support the decision-making of authorities and political decision-makers. The information it provides will enhance society’s capabilities to react rapidly to the phenomena and harm associated with the grey economy and economic crime. In addition, the website will provide companies and citizens with information on how to act or protect themselves against such harm.

The big picture is a combination of various aspects

The website provides an overview of the topical phenomena of the grey economy and economic crime comprising the observations of a number of different authorities. In addition, the website offers both domestic and international estimates on the scope and amount of the grey economy and economic crime. The website also provides information on the impact of action taken to prevent the grey economy and economic crime based on the statistics of authorities, including company audits and their results. The website also follows the progress of various projects included in the operational programme concerning the grey economy and economic crime.

In addition, the website contains a selection of recent domestic and international news flows on the grey economy and economic crime.

News about the shadow economy and economic crimes

Lithuania: Seimas refuses to strip MP Grazulis of immunity in bribery case

6/25/2019
The Lithuanian parliament, the Seimas, has refused to lift the parliamentary immunity of MP Petras Grazulis, who is implicated in a bribery scandal, BNS reports. Altogether 65 MPs voted to strip Mr...

Poland: Nine persons arrested over alleged PLN 1bn fraud in ERTMS tender

6/25/2019
Nine people have been detained in Poland in connection with an alleged fraud worth PLN 1bn (EUR 232.03mn USD 267.63mn) in a tender to build an ERTMS/GSM/-R safety control system for the national...

Italy/Slovenia: Authorities unravel VAT carousel fraud scheme

6/25/2019
Italian authorities have seized nearly EUR 84mn (USD 96.89mn) on unravelling a VAT fraud scheme in the marketing of computer and technological products in Campania. The joint investigation team had...