European Commission: Greece receives two-month ultimatum on anti-fraud rules

European Commission: Greece receives two-month ultimatum on anti-fraud rules- https://www.dnews.gr

If the deficiencies are not corrected within two months, the Commission may refer Greece and Cyprus to the Court of Justice of the European Union.

The Commission has given Greece and Cyprus two months’ ultimatum to correctly transpose the Anti-Fraud Directive to the EU’s financial interests.

Today, the Commission decided to send a reasoned opinion to Greece and Cyprus on the issue, giving both countries two months to remedy the shortcomings, otherwise, the cases may be referred to the Court of Justice of the European Union.

These rules increase the level of protection of the European Union’s budget by harmonizing definitions, sanctions, and limitation periods for criminal offenses affecting EU interests. The same rules lay the foundations for the European Public Prosecutor’s Office.

European Commission: First letter of formal notice to Greece in December 2021

The European Commission sent the first letter of formal notice on this matter in December 2021 to Greece and in February 2022 to Cyprus.

After analyzing the responses of the two countries, the Commission considered that Greece “has not correctly transposed the provisions of the Directive providing a definition of ‘passive corruption’ and ‘public official’“.

In fact, the Commission found that certain provisions notified by Greece “provide for rules limiting the effectiveness and dissuasiveness of sanctions provided for criminal offenses falling within the scope of the Directive”.

At the same time, the European Commission concluded that Cyprus “has not fully transposed certain provisions on the definition and liability of legal persons, as well as on the jurisdiction of Cyprus for the offense of money laundering, as required by the Directive”.

Two months period

Greece and Cyprus now have two months to respond and correct the shortcomings highlighted by the Commission.

otherwise, the Commission may decide to refer the cases to the Court of Justice of the European Union.

Credit – European Commission: Greece receives two-month ultimatum on anti-fraud rules (dnews.gr)

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