New law against EU funding fraud :: Dienas Bizness

On January 21, the Saeima adopted in the third reading a new law “Law on Support to the European Anti-Fraud Office”.

It is designed to provide effective support to the European Anti-Fraud Office (OLAF) in its administrative investigations aimed at protecting the European Union’s (EU) financial interests against fraud, corruption and other illegal activities.

“The protection of the EU’s financial interests and the fight against fraud and corruption are essentially the protection of any European citizen and his money. It is also the protection of Latvia’s economy and democratic system. It is important to strengthen the fight against organized crime, which frauds taxpayers money, “says Minister of Finance Jānis Reirs.

OLAF’s mission is to detect, investigate and prevent fraud involving EU funds. The new law also defines the rights of the Ministry of Finance, which, as the competent authority, provides support to OLAF investigations

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