OLAF and fraud

THE European Union's anti fraud office OLAF released its annual report for 2008 today. It mentions that it recovered €430 million of EU cash while it cost €53 million to operate the service. Sounds like good work.

EURO fraud

IT'S good to see the European Union is still a cash cow for fraudsters everywhere. The EU's anti-fraud office (OLAF) celebrated it's 10th birthday yesterday. Today, however, Bulgarian prosecutors said they have launched probes into "several hundred" suspected fraud cases involving EU farm subsidies. It seems that a number of farmers exaggerated the size of their farms when Bulgaria joined the EU in 2007. The amazing shrinking farms of Bulgaria can now join Ireland's 600,000 ghost-sheep, the non-existent olive groves in Greece and the imported 'Parma' ham in Italy. The European Commission last year froze €825 million worth of aid to Bulgaria over fears of fraud and eventually cut it by €220 million
My previous experience of a Bulgarian fraud involved a street currency seller who counted out €10 worth of Lev in front of me, but then palmed off a wad folded paper in a superb demonstration of the scam. It was a cheap lesson.