OLAF NAILS BIGGER FRAUDS BY IGNORING SMALL CASES
July 1st, 2010
BY KEITH NUTHALL
EUROPEAN Union (EU) anti-fraud agency OLAF is claiming focusing on larger frauds and referring smaller scams to national law enforcement agencies is paying off. More than 75% of cases closed in 2009 led to judicial or financial recovery proceedings, according the agency's latest annual report. And while its administrative budget for 2009 was Euro EUR57 million, last year it recouped EUR249 million of illicitly spend funds or avoided duty through completed cases.
A "significant share" of EU probes were in Bulgaria, Italy, Germany, ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.