France's financial intelligence unit froze 132 suspicious transactions in 2023, six times more than the previous two years combined, as part of a campaign to clamp down on subsidies fraud, tax fraud and undeclared labor, an annual report published Wednesday shows. The latest annual volume falls on an altogether different scale from France's previous peak of freezing orders in 2020, when the FIU, also known as Tracfin, was working frantically to flag and clamp down on the widescale misappropriation of pandemic-related subsidies that resulted in billions of euros in losses. The FIU also froze the bank accounts of more than...
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