EU should do extra to protect its funds towards fraudsters, auditors say
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EU should do extra to protect its funds towards fraudsters, auditors say

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European Union flags flutter outdoors the European Fee headquarters in Brussels, Belgium, March 24, 2021. REUTERS/Yves Herman

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BRUSSELS, Could 23 (Reuters) – The European Fee and EU governments usually are not doing sufficient to stop the misuse of the bloc’s cash, auditors mentioned on Monday, warning that fraudulent or corrupt businesspeople could obtain funds as a result of too few of them are blacklisted.

The EU’s present blacklisting techniques – arrange in 2016 to cease doubtlessly dangerous individuals and our bodies from getting EU money – have been a lot much less rigorous than these utilized by the USA and the World Financial institution, the report mentioned.

Almost all 448 entities barred by the EU in 2020 have been excluded due to chapter, which might have prevented them from getting EU cash anyway, auditors mentioned. Solely two have been blacklisted for corruption or fraud.

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EU member states, who in observe hand out a lot of the bloc’s funding, are at present not obliged to arrange blacklisting techniques in any respect, the EU auditors added of their report.

“Blacklisting will not be used successfully to stop EU funds from being paid out to people, companies or public organisations concerned in unlawful acts corresponding to fraud and corruption,” they mentioned.

The report focuses on funds disbursed in 2020, when the EU paid out round 150 billion euros ($160 billion) of its finances to farmers, researchers, firms and different beneficiaries, according to earlier years.

Not one of the 4 international locations assessed for the report – Estonia, Italy, Poland, Portugal – had a blacklisting system in place, the report mentioned.

The Fee often can’t entry nationwide information on fraudsters simply, and sometimes depends on the phrase of candidates to supply grants, the report added.

In 2020, the EU anti-fraud workplace OLAF really helpful the restoration of about 300 million euros of EU funds that have been misspent.

($1 = 0.9371 euros)

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Reporting by Francesco Guarascio; Enhancing by Andrew Heavens

Our Requirements: The Thomson Reuters Belief Rules.

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