25/04/2017 (Agence Europe) – On Tuesday 25 April in Luxembourg, the Council of the EU endorsed the directive on the protection of the EU’s financial interests (PFI). This directive accompanies the setting up of the European Prosecutor’s Office in the shape of enhanced cooperation. The directive should help to improve cases and penalties against infringements that damage the EU’s finances and facilitate the recovery of Community funds that have been inappropriately used, explains the Council. The infringements covered include fraud cases and related crimes, such as active and passive corruption, embezzlement and money laundering. Serious cross-border VAT fraud cases will also be included in the scope of the directive’s application when the amounts involved exceed €10 million. The European institutions reached a compromise on the subject on 8 December (see EUROPE 11686). (SP)