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Hungary money laundering estimated $15 bln a year

Money laundering in Hungary is valued at an estimated $15 billion a year, said László Sors, criminal deputy chairman of the National Tax and Customs Office (NAV), at a press conference on money laundering in Budapest. While last year only four charges were filed on suspicion of money laundering, this year numbers are now already in the several dozens, Sors said. Money laundering in Hungary is not so much linked to drug trafficking and prostitution but rather to tax evasion, embezzlement and mismanagement, Sors said.