The European Commission for Home Affairs released a study that found the European Union loses at least $162 Billion (€120 Billion) to corruption each year. More than 75 percent of citizens in EU member states believe that corruption is widespread in their country. More than half also stated that they felt corruption was increasing in… Continue reading Corruption in Europe
Money laundering in Hungary is estimated to be worth $15 Billion a year. In the first half of 2013, a total of 6,160 suspicious transactions were reported to federal regulators. The number of reports was 80 percent higher than the previous year. Out of that total, 66 financial transactions were halted by banking regulators. (More… Continue reading Money Laundering In Hungary
According to the Tax and Customs Authority in Hungary, security authorities seized 68 million cigarettes that were being sold on the black market. In the first 10 months of 2013, the number of cigarettes seized increased to 85 million. The price of a pack of cigarettes in Hungary has increase in recent years. In 2011,… Continue reading Black Market Tobacco Seizures in Hungary
An anti-trafficking organization reported that three out of four prostitutes working in the red light district of Amsterdam were from economically distressed communities. Not-for-Sale stated at a conference on women’s rights that 75 percent of the women came from poor communities in Bulgaria, Hungary and Romania.
The Hungarian Patent Office estimates that the counterfeit goods market in Hungary causes $4.6 Billion in economic losses every year.
Cigarette smuggling in Hungary lead to 6 percent of all cigarettes sales to take place on the black market to avoid taxes in 2010.
Prostitution and drug trafficking in Hungary was worth an estimated $1.9 Billion on the black market in 2005.
Below are losses to selected countries in Europe from counterfeit pesticides. Country Losses Czech Republic 4.19 Million Germany 39.4 Million Greece 13.3 Million Hungary 6.6 Million Poland 22.9 Million Spain 103 Million Source: “Counterfeit Pesticides Across Europe-2008,” European Crop Protection Association, August 2008.