Financial Crime World

Financial Police Cracks Down on Tax Evasion, Illegal Employment, and Social Fraud

The Austrian Financial Police has launched a series of large-scale monitoring activities aimed at detecting tax evasion, illegal employment, and social fraud. In this effort to strengthen its internal control mechanisms, the agency is conducting regular checks on businesses, investigating suspicious cases, and collaborating with other authorities.

Monitoring Activities

  • The Financial Police has been conducting regular checks on businesses, including labor market tasks and compliance with the Austrian Gambling Act.
  • The agency has also been identifying customers for the execution of attachment, garnishment, and seizure in cases where claims are owed.
  • Investigations have included recovering tax arrears, collecting financial penalties, and securing tax claims.

Regulatory Tasks

  • Detecting illegal employment of foreign nationals
  • Controlling companies and business premises to ensure compliance with labor market and residence laws
  • Checking for violations of the Austrian Anti-Wage and Social Dumping Act

Cooperation with Other Authorities

  • The Financial Police has been working closely with law enforcement agencies to identify and prosecute those involved in organized illicit work, as well as sham secondments.
  • Notifications from other authorities have led to increased scrutiny of companies and individuals suspected of engaging in illegal activities.

Successes

  • The agency’s efforts have resulted in a significant increase in tax revenue.
  • There has been a reduction in illegal employment and social fraud.

Commitment to Compliance

  • An official from the Financial Police stated that the agency is committed to ensuring compliance with tax laws and regulations, as well as preventing social fraud and illegal employment. “We will continue to work closely with other authorities to identify and prosecute those who engage in these activities,” the official said.

Overall, the Financial Police’s internal control mechanisms have been key to its success, allowing it to effectively monitor and investigate suspected cases of non-compliance. The agency’s efforts demonstrate its commitment to ensuring compliance with tax laws and regulations, as well as preventing social fraud and illegal employment.