Fraud within Europe's carbon credit trading system has cost taxpayers more than $7 billion in the last 18 months, European police said Friday.
Officials at Europol, the body in charge of co-ordinating police forces inside the European Union, say fraudulent activity on the EU's Emission Trading System was first suspected in late 2008 when police noticed the volume of trades in certain countries would mysteriously spike.
"It is estimated that in some countries, up to 90 per cent of the whole market volume was caused by fraudulent activities," Europol said.
Since late 2008, the total value of fraudulent activity is believed to be in excess of five billion euros ($7.7 billion Cdn) from bogus trades in European unit allowances, or EUAs, the credits that companies in some countries buy to offset their greenhouse gas output. continue reading
You don't have to go all the way across the big pond to find corruption in carbon steal. The British Columbia government was the first off the mark to take a chunk for the gipper with a monthly gas bill inflated by 15 bucks and no way to know what that was for.
ReplyDeleteIowa has it's own leetle greedy pact with satan called Agragate. Their five fingered plunge into the pockets of the American taxpayer, rewards those who don't grow, those who contaminate the food by using Monsanto seeds.
just wait until carbon currency shows up through the IMF, carbon dioxide emissions police with instructions from the Carbon Disclosure Project parked in London, (https://www.cdproject.net/en-US/Pages/HomePage.aspx) will walk into your home, kill you for burning up carbon dioxide which is their privately monetized commodity, steal your wealth, burn your house down, rape your wife, put your children in debt bondage for their entire lives and then charge your estate for costs...
ReplyDeleteIt is estimated that in some countries, up to 90 per cent of the whole market volume was caused by fraudulent activities.
ReplyDeleteIn the scam, criminals set up a carbon trading account on a recognized European market. They would then buy credits tax-free on exchanges in countries outside Europe. Those credits are then transferred into the European account, and the fraudsters collect tax on that transaction, but the monies are never paid to any European tax agencies.
The bogus trading account is then shut down before tax authorities can collect.
LMAO