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901 mln euros of EU budget allocated improperly in 2014: EC

Xinhua, June 2, 2015 Adjust font size:

The European Anti-Fraud Office (OLAF) recommended the recovery of 901 million euros (994 million dollars) fundings to the European Union (EU) budget in 2014, the European Commission (EC) said in a press release Tuesday.

A result showed the office, charged by the EU with tasks of fighting fraud and corruption, found the fundings were allocated improperly and recommended the high amount of recoveries, which should be returned to fund other projects.

The OLAF received 1417 items of irregularities in 2014. "This higher inflow of information does not necessarily mean that fraud has risen in Europe, but it shows the increased confidence citizens, institutions and other partners place in OLAF's investigative capacities," said the press release.

The result showed that among all investigations opened after the assessment, 250 cases were concluded in 2014. The average duration of investigations decreased to 21 months.

The OLAF issued 397 recommendations for financial, judicial, administrative or disciplinary action to be taken by the competent authorities, a record number in five years.

"OLAF's mission is to detect, investigate and stop fraud involving EU funds," said OLAF Director-General Giovanni Kessler at a press conference, adding that "it ensures that EU taxpayers' money is used for the purpose for which it was originally intended, creating jobs and growth in Europe." Endit