OLAF ECB
July 1st, 2004
BY KEITH NUTHALL
THE EUROPEAN Central Bank (ECB) has laid down rules allowing EU anti-fraud unit OLAF to carry out internal investigations within the institution. The board says the regulations comply with last year's European Court of Justice ruling opposing its blocking OLAF inquiries into ECB fraud and corruption. However, the new rules say "in exceptional cases, in which the circulation of certain information outside the ECB could seriously undermine the ECB's functioning", the bank's executive board should channel information to OLAF.
THE EUROPEAN Central Bank (ECB) has laid down rules allowing EU anti-fraud unit OLAF to carry out internal investigations within the institution. The board says the regulations comply with last year's European Court of Justice ruling opposing its blocking OLAF inquiries into ECB fraud and corruption. However, the new rules say "in exceptional cases, in which the circulation of certain information outside the ECB could seriously undermine the ECB's functioning", the bank's executive board should channel information to OLAF.
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