stock traders exploiting loopholes and defrauding the state of billions of damage due to dubious tax-driven transactions in shares, according to a new Report significantly higher than expected.

at least ten further European countries in addition to Germany, the damage amounts to more than 55 billion euros, when opaque structures, such as Cum-Ex-and Cum-and Cum together. In the in the financial industry as a “Tax Deals” well-known shops in the short term, huge, often billions of shares are shifted back and forth, to double-tax refund (exactly how this works, read here).

Gerhard Schick has worked like no other politician in Germany, with the theme – and as financial expert of the Greens in the parliamentary Committee of inquiry to Cum-Ex initiated. He fears that the plunder of taxpayers ‘ money is not stopped and therefore calls for a European financial police.

MIRROR ONLINE: Through the Back – and-Forth of the share of German financial were deceived offices for many years. They refunded billions in taxes that were never paid. Where to beat the offender?

Send: The new studies show that not only Germany was the target of the scammers, but scammers have also cheated other countries, such as Denmark and France to billion. The perpetrators have systematically looked at, in what state, what tax tricks are possible. Now it became clear: this scandal is not a purely German Problem but a European one.

To the Person DPA Gerhard Schick , Born in 1972, since 2005, member of the Bundestag and was the Initiator and a member of the Cum-Ex-the Committee of inquiry. From 2007 to 2017 financial was to Send a political spokesman for the Green group. Since 2018, he is turning the management Board of the citizens ‘ movement Financial, for which he is put to the end of the year, his Bundestag mandate.

MIRROR ONLINE: What does it mean?

Send: That the total damage is greater than previously thought. In Europe, he is now at least 55 billion euros. Previously, it was assumed, that we have in Germany a total damage caused by Cum-Ex and Cum-Cum of more than 30 billion. But we will never know how high the damage total is really because many actions are started in the late nineties and long since time-barred.

MIRROR ONLINE: Where to fins the money?

Send: In all the cases examined have not deducted scammers money from the tax office, due to you. This is about the same as if a family of children applied for money for two children, although she has only one child. So it was with these stores. The money flowed in the majority of cases, to a group of fraudsters, banks, extra to the purpose Fund, established companies as well as accountants and law firms that have set the Whole thing up. Then you have to split the money among themselves, the bulk of which is paid to individual traders and accountants.

MIRROR ONLINE: Who was involved in this criminal network?

Send: The studies show that there are probably dozens of people have committed these acts. But the number of Mitwissenden that have kept to the authorities proof, is several times higher. Since we expect hundreds.

MIRROR ONLINE: banks did it?

Send: In the case of smaller banks that were heavily involved, we can assume that even on the assumption that the Board knew exactly what was going on. In the case of larger banks, in which individual traders have participated, I do not expect that the Details of the Board members were known. I see you but still the responsibility, as they have allowed a culture in which many employees find it obvious in order, the taxpayer loot.

MIRROR ONLINE: of 2012 have been closed the Tax loophole for Cum-Ex-transactions in Germany. Go to the shops today?

Send: It would be completely naive to believe that the last control to the Cum-Ex for getting any Form of trickery would have been excluded. The research shows that in other European countries, such practices potential customers can still be offered. We must not, therefore, satisfied that this practice has been halted for the time being. We need to set up the state authorities now so that you can detect new, adverse developments in good time and stop.

MIRROR ONLINE: could Have been the Europe-wide prevent tax fraud, if Germany had warned the other European countries in the past?

Send: Yes, the authorities would have been able to prevent large parts of this every rip-off … if in Europe there is a capable European financial police. It is clear that European governments work together on issues of financial crime too little. Denmark had, for example, need to by the German authorities much earlier be warned.

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MIRROR ONLINE: What are the consequences of you calling for now?

Send: In the fight against terrorism, we already have an intensive European cooperation. This we need in the area of tax and financial crime. The Problem is that the countries of the EU insist so far on their national sovereignty in tax matters.

MIRROR ONLINE: when will the legal investigation of the scandal to be completed?

Send: The topic will occupy the courts for many years, after all we have to do here with the biggest case of financial crime in the history of the Federal Republic of Germany.

MIRROR ONLINE: The method of fraudsters is highly complex. Aren’t you afraid that a majority of citizens do not understand the scandal?

Send: I don’t think so. To learn what happened, it is not necessary to understand the individual transactions. The citizens must not be able to write down the algorithm of a Cheat software, to be able to the diesel scandal understand. What is happening in the core, is relatively easy to understand: Individual actors have used Tricks in the state Treasury. The tax money of the citizens has not been so used to repair roads or to build kindergartens, but to Finance rather, the wealth of individual financial professionals and the super-rich.