News about the shadow economy and economic crime

UK: Farmer ordered to pay back proceeds from mislabelled eggs

6/22/2018
Farmer Anthony Clarkson has been ordered to pay back the GBP 505,381 (EUR 578,239.06 USD 670,943.94) that he made by deliberately selling barn eggs as more expensive free range eggs. He was ordered...

Austria: Lawyers acquitted in OeBS bribery case

6/22/2018
The two lawyers accused of bribing foreign central banks through OeBS, a subsidiary of the Austrian national bank, have reportedly been acquitted by the Criminal Court of Vienna. The lawsuit was...

Belgium: State hit by lawsuit in aircraft noise dispute

6/22/2018
Céline Fremault, the Brussels environmental minister, has accused the federal government of acting too slowly when it comes to reducing air traffic noise in the capital. She therefore launched a...

EU: Ryanair's complaint on ATC strike ignored by EC

6/22/2018
Irish low-cost airline Ryanair and UK-based IAG, which owns Aer Lingus, are planning a legal action to prevent air traffic controllers (ATC) in the EU from continuing to strike. However, the European...

Netherlands: Fraud suffered by health insurers has reached EUR 27mn in 2017

6/21/2018
Health insurance providers in the Netherlands lost EUR 27mn (USD 31.33mn) due to fraud by consumers in 2017. This is over EUR 8mn more than in 2016, according to the health insurance organisation...

UK: FRC report focus of Green legal challenge

6/21/2018
A legal bid has been launched to gag the Financial Reporting Council. Sir Philip Green has gone to the High Court to stop the accounting watchdog from publishing in full a report into auditing...

EU: EC investigating supply agreements with Qatar Petroleum

6/21/2018
The European Commission (EC) has opened a formal investigation to determine whether the EU's antitrust rules on the free flow of gas within the European Economic Area (EEA) have been breached by the...

Germany: Daimler shareholder files lawsuit against company

6/21/2018
The German law firm Rotter Rechtsanwälte has filed a lawsuit for a shareholder of the German car manufacturer Daimler at the district court of Stuttgart, Germany. The private investor is accusing...

Austria: Aviation agreement with Kuwait has no duty of carriage provision

6/21/2018
In the wake of complaints of antisemitism against Kuwait Airways and the Saudia airline, it is being reported that the overseas division of Austria's international law office has decided that the...

Ireland: Anglo Irish Bank ex-CEO given 6-year jail sentence for EUR 7.2bn fraud

6/20/2018
A jury at Dublin Circuit Criminal Court has voted unanimously and found ex-CEO of Ireland-based Anglo Irish Bank, David Drumm, guilty on charges of false accounting and fraud. Drumm was given a...

Spain: Checkpoint provides anti-theft systems to Consum

6/20/2018
Spanish supermarket cooperative Consum has teamed up with Checkpoint Systems via a collaboration agreement that will see the latter installing a new anti-theft system in 256 of Consum's stores. The...

Latvia: KNAB detains opposition MP Artuss Kaimins for illegal party financing

6/20/2018
Latvia's Corruption Prevention and Combating Bureau (KNAB) has detained MP Artuss Kaimins, chairman of the opposition Kam Pieder Valsts (KPV LV) party. Earlier, the Latvian parliament, the Saeima,...

Serbia: Illegal trade ranked at 57th position

6/20/2018
According to the presented results of '''The Economist Intelligence Unit'' (EIU), Serbia has been ranked at the 57th position according to illegal trade and grey economy out of the total of 84 ranked...

UK: 32Red fined for failing to help addicted customer

6/20/2018
The Gambling Commission has issued the online betting company, 32Red, with a GBP 2mn (EUR 2.29mn USD 2.66mn) fine for missing 22 chances to help a problem gambler. The customer deposited GBP 758,000...

UK: Welsh Assembly votes to ban plastic microbeads in personal care products

6/20/2018
After a recent vote by the Welsh Assembly, the sale of personal care products containing microbeads will be banned in Wales with effect from 30 June 2018. The move see a ban on both the sale and...

Germany: Audi boss considered firing witness

6/20/2018
There are claims that Audi boss Rupert Stadler was thinking about firing a member of staff who had given extensive evidence to investigators in the emission case. This is based on an intercepted...

Germany: VW EUR 1bn fine paid to Lower Saxony state treasury

6/20/2018
The EUR 1bn (USD 1.16bn) fine imposed on the German car manufacturer Volkswagen (VW) has been received by the treasury of the German state of Lower Saxony. The fine was imposed by the Braunschweig...

Russia: VMTP accounts seizure may increase social tensions in Primorsky region

6/20/2018
FESCO Group has said that the seizure of the stevedoring company Commercial Port of Vladivostok's (VMTP) accounts may increase social tensions in the Primorsky region (Far East). As one of the...

Germany: Bilfinger/von Sachsen-Meiningen case postponed

6/20/2018
The trial concerning the dismissal of Marie Alexandra von Sachsen-Meiningen from the post of chief investigator at German construction and plant engineering firm Bilfinger has been postponed at short...

UK: Advertising regulator over-rules complaint on L'Oréal Maybelline mascara ad

6/20/2018
The Advertising Standards Authority (ASA), British regulator of advertising, has over-ruled a complaint that challenged Maybelline New York's Total Temptation mascara advertisement. The advertisement...

Estonia: Government endorses two-year action plan in fight against corruption

6/19/2018
In its fight against corruption, Estonia's government has endorsed an implementation plan for the next two years. The plan focuses on raising corruption awareness among residents and increasing...

Austria: IPOs to be easier for SMEs

6/19/2018
The federal government in Austria is to make it easier for SMEs to float on Wiener Börse, the stock exchange in Vienna. It plans to allow trading in anonymous bearer shares instead of registered...

Ukraine: Supreme Court confirms fine from Tedis Ukraine

6/19/2018
The Supreme Court has upheld a decision of the Anti-Monopoly Committee of Ukraine to impose a fine on Tedis Ukraine (formerly Megapolis-Ukraine, the country's largest cigarette distributor). The size...

Russia: YCS director challenging court decision on suspension

6/19/2018
Yan Beloglazov, founder and director of Yanberg Container Systems (YCS, produces metal beer cans, Voronezh region, Central FD), has appealed against the court decision to suspend the operation of the...

Ireland: Survey shows 50% of firms were economic crime victims

6/18/2018
According to PwC's survey on 77 Irish firms, 50% of companies in Ireland were victims of economic crime in the past two years, compared to 26% in 2010 and 34% in 2016. A total of 51% were unsure if...

Russia: PTP to compensate tugboat company

6/18/2018
A court order has obliged the stevedoring company Primorsk Oil Terminal (PTP) to pay over RUB 2mn (EUR 27,271.95 USD 31,644.27) in compensation to Baltic Sea Tug Agency (BMBA). The Federal...

UK: Balfour Beatty fined for Hand-Arm Vibration Syndrome exposure

6/18/2018
Balfour Beatty Utility Solutions has been issued with a GBP 500,000 (EUR 572,082.31 USD 663,800.13) fine for exposing its employees to Hand-Arm Vibration Syndrome (HAVS) between the years 2002 and...

Ukraine: Illegal tobacco products accounts for 3% of market

6/17/2018
According to Kantar TNS and Philip Morris Ukraine, illegal tobacco products account for 3% of the market in Ukraine. Such products are mainly imported from Belarus and Moldova. The budget losses are...

Russia: CBR to change way of reporting cybertheft

6/15/2018
The Central Bank of Russia (CBR) has published a decree saying that forms for reporting cybertheft will be changed since 1 July 2018. The reports will now be mandatory not only for banks, but also...

Russia: GIK construction company violates law on advertising

6/14/2018
The Krasnodar administration of FAS (South) has initiated proceedings against GIK construction company due to violation of the law on advertising. The case was initiated by a citizen who received an...