It takes government bungling on a massive scale to create an opportunity for fraud this large. Yesterday, 36 people went on trial in France for defrauding the government out of 1.6 billion euros (nearly $2 billion).
The scammers would buy carbon credits aboard then resell them in France. They were suppose to collect a VAT tax (value added tax or a type of national sales tax) on the credits but they instead pocketed the money. More