The PFI Convention was a multilateral treaty between the old and new
member states of the
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...
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. It was introduced by the ''Council Act of 26 July 1995 drawing up the Convention on the protection of the European Communities' financial interests''.
This convention harmonised the legal definition and criminal liability of fraud and replaced the old European treaties on fraud. It created a unified definition of
fraud, and signatory states were to ensure that criminal sanctions were in effect for it. All EU Member states have ratified the convention, and it is available for accession by any future incoming EU member state.
The convention was replaced by the PFI Directive in all member states except
Denmark
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and the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...
, which have (or had)
opt-out The term opt-out refers to several methods by which individuals can avoid receiving unsolicited product or service information. This option is usually associated with direct marketing campaigns such as e-mail marketing or direct mail. A list of thos ...
s, with effect from 6 July 2019.
See also
*
Fraud Act 2006
The Fraud Act 2006 (c 35) is an Act of the Parliament of the United Kingdom which affects England and Wales and Northern Ireland. It was given royal assent on 8 November 2006, and came into effect on 15 January 2007.
Purpose
The Act gives a sta ...
References
{{EU treaties and declarations
European Union law
Treaties of the European Union
Law enforcement in Europe