On 23 November 2004 the Riigikogu adopted the Act on Accession to the Convention on the Protection of the European Communities’ Financial Interests and Its Protocols, which entered into force on 16 January 2005.
The aim of the Convention is to criminalize in all Member States fraud affecting the European Communities' financial interests. The protocols are directed at acts of corruption that damage or are likely to damage the European Communities' financial interests. It provides for liability of legal persons, including confiscation. It also relates to money laundering and the cooperation between the Member States and the Commission for the purpose of protecting the European Communities' financial interests and protecting personal data related thereto.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
