Press Release: Better cooperation between Member States is key to enhancing the defence of the EU’s financial interests

The European Commission has adopted a draft regulation aiming to enhance the effectiveness of the fight against fraud through increased administrative co-operation with and between the Member States. The relevant national authorities of different Member States will have the duty to provide information and surveillance assistance to each other upon request. The Commission will have access to this information, so as to facilitate and coordinate Member States' anti-fraud activities through the relevant risk-related analyses. This regulation for mutual administrative assistance covers large scale transnational VAT fraud, money laundering of profits stemming from EU fraud, structural funds and other subsidies from the EU budget. The cooperation will focus on serious transnational cases of at least € 500,000 in fiscal damage in cases of VAT fraud, and of €100,000 in other cases.