REUTERS - Reuters

UniCredit Offices Searched in 200 Million Euro VAT Fraud Probe UniCredit's Munich offices were searched as part of a German investigation into a potential 200 million euro VAT fraud involving a former client. The European Public Prosecutor's Office (EPPO) conducted the raid, linking the suspect to bank transfers in Germany between 2016 and 2022. The fraud involved a VAT carousel scheme exploiting EU cross-border transaction rules. UniCredit, which owns HVB in Munich, confirmed cooperation with authorities, noting the issue had been previously reported. The investigation is assessing whether UniCredit fulfilled due diligence under anti-money laundering laws.