US EditionWatchdogs Say €650bn EU Fund Still Ripe for Fraud
The €650 billion fund shows major gaps in fraud detection and inconsistent national controls, risking undetected losses after programme closure, the European Court of Auditors said.
- Today the European Court of Auditors said the €650 billion Recovery and Resilience Facility remains vulnerable to fraud due to systemic weaknesses.
- Member states' arrangements show inconsistent standards as bilateral financing agreements lacked specificity, and reporting is weak with few whistleblowing reports, the European Court of Auditors said.
- ECA auditors flagged weak use of data tools like Arachne, noting some audits occurred only after initial payments, raising concerns about outdated national audit systems and safeguards.
- The auditors warned member states are not required to return recovered fraudulent funds, urging the European Commission to tighten anti-fraud requirements and audits.
- With the RRF set to wind down this year, the ECA warns that many fraud cases will only surface after the programme's formal closure, as management declarations end December 2026.
12 Articles
12 Articles
The Corona Reconstruction Fund should bring the EU economy out of the pandemic low. But the 700 billion euros flow without proper control - an open secret in Brussels. Nevertheless, the fund should serve as a model for the next EU budget.
The European Court of Auditors claims weaknesses in the fight against fraud in the Recovery and Resilience Mechanism. Portugal reported eight cases to the European Prosecutor in a European universe of 307.
Eldiario.es
Forbes EspañaIn a report on the fight against fraud, the auditors conclude that the framework established to prevent, detect and correct fraud "is not fully effective" and has shortcomings in the Member States
The post-pandemian recovery fund approved by the EU with a total of EUR 65 billion was a historic tool, but still has gaps: it remains, years after its launch, poorly protected and without guarantees of recovering the money used fraudulently. It is the main conclusion that the European Court of Auditors draws in a new report: it warns that the data on cases of alleged fraud are incomplete.Spain was one of the four Member States specifically sele…
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
