| Author (Corporate) | European Commission: DG Communication |
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| Series Title | Press Release |
| Series Details | IP/12/809 (19.7.12) |
| Publication Date | 19/07/2012 |
| Content Type | News |
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Fraud affecting the EU budget fell by 35% in 2011, according to the Commission's annual report on the "Protection of the EU's Financial Interests". In cohesion policy, there were 41% fewer cases of suspected fraud compared to 2010, while in agriculture reported fraud cases fell by 66%. In addition to stronger measures and better controls implemented for EU funding, there are also a number of technical explanations for the drop in fraud rate in 2011. The closure of a programming period in cohesion policy and more stabilised reporting in the new control system for agriculture also contributed to lower reported fraud than in 2010. In total, €295 million in EU funds were affected by fraud, or 0.2% of the budget, which must be recovered in line with EU rules. In its report, the Commission underlines the need to further reduce fraud affecting the EU budget, and makes a number of recommendations to Member States which could help achieve this. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/809&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |