What is the Cum-Ex tax scandal?

The Cum-Ex tax scandal is a massive financial fraud involving the rapid exchange of shares to claim multiple tax refunds on a single dividend payment. This scheme led to billions in lost tax revenue across Europe, significantly impacting Germany.

How did Anne Brorhilker contribute to uncovering the Cum-Ex scandal?

Anne Brorhilker, a German prosecutor, led the investigation into the Cum-Ex tax fraud. Her detailed forensic accounting and legal pursuit played a critical role in revealing the scandal's depth and complexity, leading to high-profile arrests and legal reforms.

What are the legal implications of the Cum-Ex scandal?

Legally, the scandal has highlighted the need for stronger international tax regulations and enforcement mechanisms. It has spurred efforts to close loopholes in tax laws and foster greater international cooperation to prevent similar frauds in the future.

Law and Government

Germany’s Largest Tax Scandal: The Cum-Ex Scheme Explained

ByHuzaifa Zahoor November 13, 2025November 13, 2025

The Cum-Ex tax scandal stands as Germany’s largest financial fraud, costing billions in lost tax revenue. Originating from fraudulent share-trading strategies, it exposed significant flaws in tax regulation. Central to this revelation is Anne Brorhilker, a German prosecutor whose meticulous investigation has brought this issue to light. Her recent book delves into the complexities of these schemes and the systemic regulatory failures that allowed them to thrive. This exploration is crucial for understanding how such intricate financial crimes can affect a nation’s economy and legal frameworks.