The new law will help strengthen the fight against fraud in EU funding

The new law will help strengthen the fight against fraud in EU funding

In the third reading, on Thursday 21 January, Parliament adopted a new law called the “European Anti-Fraud Support Act”. It is intended to provide effective assistance to the European Anti-Fraud Office (OLAF) in its administrative investigations aimed at protecting the financial interests of the European Union (EU) against fraud, corruption and any other illegal activity.

“The defense of the European Union’s financial interests and the fight against fraud and corruption are, in essence, the protection of every European citizen and his or her wealth. It is also the protection of the Latvian economy and the democratic system. Carrying out the fight against organized crime Important., Which misleads taxpayers’ money from the EU budget every year. ” Recall Finance Minister Janice Reyes.

The mission of OLAF is to detect, investigate and prevent fraud involving EU funds. The new law also sets out the powers of the Ministry of Finance, which, as a competent authority, supports the CTC investigation.

The main functions of the OLAF include independent investigations into fraud and corruption involving EU funds to ensure that EU taxpayers’ money is for projects that can create jobs and growth in Europe. It is also important to increase citizens’ trust in EU institutions by investigating serious irregularities committed by EU officials and employees of EU institutions, and by developing a sound EU anti-fraud policy.

In its independent investigative work, the European Anti-Fraud Office can investigate fraud, corruption and any other criminal activity affecting the financial interests of the European Union:

  • All European Union spending falls under structural funds, agricultural policy, rural development funds, direct spending, and foreign aid;
  • Some areas of EU revenue, particularly in customs;
  • Allegations of gross misconduct by EU officials and employees of EU institutions.
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