Press Release: Commission reinforces its early warning system on recipients of EU money in order to better protect its financial interests

The European Commission is reinforcing its internal information system (early warning system) in order to ensure improved internal circulation of information on contractors and beneficiaries that could be problematic as concerns the Community's financial interests. The existing system will be extended to provide for the registration of wrongdoings, outstanding recoveries, fraud, ongoing investigations by OLAF or the Commission's Internal Audit Service. It sets up mechanisms ensuring that contractors and beneficiaries presenting the same level of risk for the Community's interests are known to and receive the same treatment by all Commission services.