Olaf: more than half a billion euros of EU funds misappropriated

According to a report by the anti-fraud authority Olaf, subsidies of more than half a billion euros were misused or misappropriated in the European Union last year. The authority estimated the total at more than €527 million in its annual report on Wednesday – about €234 million more than the year before. The Brussels-based authority is tasked with uncovering fraud involving EU funds. In the process, investigators also inspect the work within the European authorities.

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