On Wednesday 5 July, the European Parliament approved the draft directive on sanctions under criminal law against fraud harming the financial interests of the EU. This is the result of a recent compromise between the EU institutions.
The text provides for common definitions of a number of offences related to fraud: active and passive corruption, diversion of funds, VAT fraud (when at least two member states are involved and the damages are €10 million or above).
The agreement also lays...