CumEx-Files

For the Mexican consortium of universities, see CUMEX.

CumEx-Files
Date18 October 2018 (2018-10-18)[1]
LocationEurope
TypeTax evasion
OutcomeLoss of roughly $63.2 billion.[1]
Websitecorrectiv.org/en/top-stories/2021/10/21/cumex-files-2/
Countries affected by the fraud

The CumEx-Files is an investigation by a number of European news media outlets into a tax fraud scheme discovered by them in 2017.[1] A network of banks, stock traders, and lawyers had obtained billions from European treasuries through suspected fraud and speculation involving dividend taxes. The five hardest hit countries may have lost at least $62.9 billion.[2] Germany is the hardest hit country, with around $36.2 billion withdrawn from the German treasury.[3] Estimated losses for other countries include at least €17 billion for France, €4.5 billion in Italy, €1.7 billion in Denmark and €201 million for Belgium.[4]

  1. ^ a b c "Cum-Ex trading scandal in Germany – A huge challenge for financial institutions and the insurance industry". DAC Beachcroft. 8 February 2017. Archived from the original on 26 October 2018. Retrieved 6 October 2020.
  2. ^ "Skattesvindel" [tax fraud]. DR (in Danish). 18 October 2018. Archived from the original on 18 December 2018. Retrieved 18 October 2018.
  3. ^ Vartdal, Ragnhild (18 October 2018). "Norge rammet av europeisk skatteskandale" [Norway hit by European tax scandal] (in Norwegian). Retrieved 18 October 2018.
  4. ^ ""CumEx Files": la fraude fiscale à 55 milliards d'euros" ["CumEx Files": tax fraud for 55 billion euros]. Le Point (in French). AFP. 18 October 2018. Archived from the original on 20 October 2018. Retrieved 20 October 2018.