Plans to recover the billions of kroner the nation has lost to tax fraud in recent years were announced by Danish Tax Minister Karsten Lauritzen.

Lauritzen told a press conference on November 1 that Denmark would do everything in its power to recover the 12.7bn kroner (€1.7bn) that were swindled out of state coffers between 2002 and 2015.

As reported by The Local, the scandal came to light in August 2015, when Skat reported tax fraud to the tune of 6.2bn – later revised upward to the 12.7bn kroner figure – to Denmark’s State Prosecutor for Economic Crime (Statsadvokaten for Særlig Økonomisk Kriminalitet). The frauds were related to returns on stock, including dividends, in Danish companies paid to foreign companies.

Lauritzen also said progress was being made on recovering the money but he could not hide his frustration.

“I’m normally a northern Jutlander with a calm disposition but I’m angry and deeply, deeply offended,” he said. “One can only conclude that the greed of certain banks knows no ends.”

As part of the complete overhaul of tax agency Skat, there are now more than 100 extra employees dedicated to the issue.

“I want to drive home the fact that we will fight for every single nickel that was taken from the treasury,” he said.