carousel fraud
n.— «The money is being lost to a swindle described officially as missing trader intra-community fraud, but known to criminals as carousel fraud. It involves bogus companies being set up to trade goods between each other, and Revenue & Customs being tricked into handing over VAT refunds for each fake sale.» —“Revealed: the £5bn-a-year tax fraud” by Ian Cobain, Ashley Seager Guardian Unlimited (U.K.) May 9, 2006. (source: Double-Tongued Dictionary)
Further reading
Have you ever googled your own name and found someone else who goes by the very same moniker? There’s a word for that: googleganger. Plus, the language of hobbyists and enthusiasts: If you’re a beekeeper, perhaps you call yourself a...
When you had sleepovers as a child, what did you call the makeshift beds you made on the floor? In some places, you call those bedclothes and blankets a pallet. This word comes from an old term for “straw.” And: What’s the story...