Press Release: European Commission tightens up recovery management

The European Commission adopted a number of administrative and legislative measures to boost the recovery of unduly paid amounts on 3 December 2002. The new Financial Regulation gives the Commission more opportunity to offset amounts to be recovered from a beneficiary against his claims on the Commission. The Commission is also demanding higher securities to cover any advances which need to be reclaimed. In addition, managing departments have been granted access to a data bank on the financial situation of beneficiaries.