On 25 April 2017, the Council adopted a directive on the protection of the financial interests of the EU (PIF Directive). This will improve the prosecution and sanctioning of crimes against EU finances, and facilitate the recovery of misused EU funds. These common rules will help to ensure a level playing field and improved investigation and prosecution across the EU.
The directive provides common definitions of a number of offences against the EU budget. Those offences include cases of fraud and other related crimes such as active and passive corruption, the misappropriation of funds, money laundering, amongst others. Serious cases of cross border VAT fraud will also be included in the scope of the directive when above a threshold of €10 million.