Protecting the EU's Financial Interests

Between 400 and 600 million Euro of the EU budget are lost every year as a result of suspected fraud. This does not include the financial damage resulting from irregularities that amount to 1.2 billion Euro. It can be assumed that the overall financial damage caused by fraud is even higher. The increasing frequency and magnitude of transnational fraud clearly goes to the detriment of the EU's financial interests, which need to be better safeguarded and protected against fraud.

The European Commission's legislative proposal for a "Directive on the Protection of the European Union's Financial Interests (PIF Directive)" represents one of the major projects of the European Commission in 2013. Article 86 of the Treaty on the Functioning of the European Union is of vital importance in this matter because it foresees the establishment of a European Public Prosecutor's Office (EPPO). The EPPO promises to improve cross-border prosecution, thus combating crimes affecting the financial interests of the EU much more effectively.

Panelists from different institutions – the Council of the European Union, the European Commission, the European Parliament, and from the OECD – will be discussing the concept, and implementation of the EPPO, while also addressing key questions of the potential new institution.