Bangladesh, Sept. 24 -- The latest arrest in the European Public Prosecutor's Office's (EPPO) "Escape Room" investigation offers another reminder that financial crime does not always look like a dramatic heist. Sometimes, it hides behind invoices, corporate registrations, electronic-device shipments and seemingly legitimate tax refunds.

According to EPPO, authorities have arrested another suspect in an alleged cross-border VAT carousel fraud network operating across Austria, Belgium, Germany, Latvia, the Netherlands and Poland. Investigators estimate that the wider scheme caused at least $79 million in losses in the Netherlands and Belgium alone. The case illustrates how organized financial crime can exploit the complexity of modern Eur...