The Netherlands’ Fiscal Information and Investigation Service (FIOD) recently arrested a 50-year-old Amsterdam resident on suspicion of tax fraud and forgery. The authorities searched two Amsterdam homes and an office during their investigation. They seized physical and digital administration, 25,000 euros ($29,436) in cash, 70,000 euros ($82,421) in crypto currency and a Rolex watch.
The FIOD began its investigation after the country’s Financial Intelligence Unit received reports of suspicious cash transactions from banks. During 2017-19, the suspect’s personal and business bank accounts received over 200,000 euros ($235,490) in cash. Subsequently, the suspect withdrew large sums of cash from these accounts.
The FIOD has also found that the detainee failed to file an income tax return. The authorities further suspect that the detainee did not pay sales tax for his business. Furthermore, the suspect impersonated an FIOD employee over WhatsApp and email so as to gain the trust of third parties. Source: Fiscal Information and Investigation Service, Netherlands