EU office estimates almost $1 billion in graft last year

May 31, 2016 5:36 PM

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BRUSSELS – The European Union's anti-fraud office said that almost $1 billion of the bloc's budget was lost to graft and irregularities last year.

In its annual report, OLAF said Tuesday that it wants the 28-nation bloc to claw back 888 million euros in funds that it considers inappropriately spent EU funds. The figure was almost similar to 2014, when it stood at 901 million euros ($1.003 billion).

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