Brussels - Fraud Capital Of The Universe?

House of Lords report finds fraud against EU budget could be twelve times higher than estimated by EU Commission.
A report by the House of Lords’ EU Select Committee published yesterday has concluded that the EU's anti-fraud system has “a number of weaknesses”, and that the Commission’s estimate of €404m “offers only a glimpse of the levels of fraud perpetrated against the EU's budget”, with the actual figure possibly €5bn or higher. Open Europe’s Pawel Swidlicki is quoted in the Telegraph as arguing that the top-down nature and overly complex design of the EU budget makes it “particularly vulnerable to ineffective spending but also fraud and mismanagement", and that at the moment accountability over EU spending falls into a black hole between the Commission and member states. House of Lords Report: The Fight Against Fraud on the EU's Finances Telegraph Times Mail Express