Hercules against financial fraud

Eurozone ''Hercules''
Eurozone ''Hercules''

With a Hercules, Europe seeks to crack down the financial fraud. On 23 January activated Regulation of the European Parliament and of the Council on a program to promote activities in the field of protection of the financial interests of the European Union called Hercules III. The Hercules III, which is the multiannual action program to promote activities against fraud, corruption and any other illegal activity affecting the financial interests of the Union will be valid until December 31, 2020.

Eurozone ''Hercules''

Eurozone ”Hercules”

The overall objective of the program is to protect the financial interests of the Union and the strengthening thereby the competitiveness of the European economy and ensure the protection of taxpayers money. The specific objective of the program is to prevent and combat fraud, corruption and any other illegal activity affecting the financial interests of the Union.

Eurozone ''Hercules''

Eurozone ”Hercules”

The program aims to contribute to all of the following:

a) Development of activities at the level of the Union and the Member States to combat fraud, corruption and any other illegal activity affecting the financial interests of the Union, including the fight against contraband and counterfeit cigarettes,

b) strengthening transnational cooperation and coordination at EU level between the authorities of the Member States, the Commission and the European Anti Fraud Office, and in particular the effectiveness and efficiency of cross border operations,

c) the effective prevention of fraud, corruption and any other illegal activity affecting the financial interests of the Union, providing a common specialized training to the staff of national and regional administrations and other stakeholders.

By Nicole P.

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