EU sets up a unit of investigators to tackle an expected surge in financial crime in the economic downturn triggered by Covid-19
In this April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany.
"The fallout from the Covid-19 pandemic has weakened our economy and created new vulnerabilities from which crime can emerge," Europol head Catherine De Bolle said, adding the centre would focus on countering money laundering, fraud and corruption, which usually increase in times of economic crisis. It also warned that subsidies offered during the pandemic "will be targeted by criminals seeking to defraud public funding." Frauds involving medical equipment are also on the rise.
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