This update was first published in the January 2012 International edition of Accounting and Business magazine.
The European Commission is planning to propose two new anti-fraud programmes spanning 2014 to 2020.
The larger of the programmes – Hercule III – will invest €110m in joint customs operations, training, and supplying IT tools to customs teams, to reduce the fraudulent evasion of duties.
The other planned programme, Pericles 2020, is designed to tackle the counterfeiting of euro banknotes and coins.
Keith Nuthall, journalist