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On 30 January 2024, the ECJ ruled that in cases of VAT fraud, the employee using her employer’s details to issue fake invoices is liable for the amount of the taxes entered on them, provided that the employer, who is a taxable person for VAT purposes, has exercised the due diligence reasonably required to monitor the conduct of its employee.

In February 2024, the European Court of Auditors (ECA) published two reports that examine the Commission's steps designed to ensure that EU money is properly spent to Member States if they comply with the EU's rule of law values.ECA report on Conditionality RegulationSpecial …

On 21 February 2024, the European Commission presented the mid-term evaluation of the Recovery and Resilience Facility (RRF), the centrepiece of the NextGenerationEU coronavirus recovery plan. At the beginning of April, the European Court of Auditors pointed to several challenges of this special fund painting …

In April 2024, the Council and the European Parliament reached agreement on a €6 billion Reform and Growth Facility for the Western Balkans. The facility is the financial pillar of a general Reform and Growth Plan for six Western Balkan countries proposed by the …

In February 2024, the European Parliament and the Council gave green light to three legislative acts that reinforce the EU long-term budget and provide additional funding in order to react to new challenges, such as Russia’s war against Ukraine. The acts include a regulation amending …

On 18 January 2024, the EP adopted a resolution assessing the 2022 PIF Annual Report. The resolution provided remarks on the protection of the EU's financial interests for revenue and expenditure, challanges in relation to NGEU/RRF spending, the digitalisation, the anti-fraud architecture and the external dimension of protecting the EU budget.

On 19 June 2024, several pieces of legislation with new rules fighting money laundering (ML) and the financing of terrorism (FT) were published in the EU's Official Journal. This news item provides an overview of the legal acts and the main novelties of the general overhaul of the EU's rules on AML/CFT, including the new central Anti-Money-Laundering Authority. Details of the acts are explained in separate news items (→ related links).

On 19 June 2024, Regulation (EU) 2024/1620 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) was published in the EU’s Official Journal. AMLA main tasks will be to ensure the quality and effectiveness of the EU rules to counter money laundering and terrorist financing. The seat of the new authority will be Frankfurt a.M., Germany.

Obligations for private entities to prevent the use of the financial system from money laundering and terrorist financing are now prescribed in a directly applicable Regulation. Regulation (EU) 2024/1624 was published in the Official Journal of the EU of 19 June 2024. It replaces the system to date that has regulated said obligations in Directives.

On 19 June 2024, the sixth Anti-Money Laundering Directive was published in the Official Journal of the EU. It mainly deals with organisational and institutional issues of the preventive framework that are addressed respectively to the Member States, their supervisory authorities, and Financial Intelligence Units.