PFI Convention

The PIF Convention is a multilateral treaty between the old and new member states of the European Union on the topic of fraud and came into force on 17 October 2002.

The full name of the treaty is the Convention on the protection of the European Communities' financial interests and is introduced by the Council Act of 26 July 1995 drawing up the Convention on the protection of the European Communities’ financial interests.

History

This convention replaces the old European treaties on fraud. It makes a unified definition of fraud. Signatory states have to adopt criminal sanctions for fraud. Not all EU Member states have ratified the convention.

See Also

• Fraud Act 2006