The Daily Mail reports: “The European Union is being
defrauded of more than £4billion a year – 12 times official estimates”.
article mentions a report published by Lords' Justice, Institutions and
Consumer Protection EU Sub-Committee, “The Fight Against Fraud On The EU's
Finances”, which points out the European Commission claims that “£348 million – or 404 million euros – was missing from
its budget” but “the real size of EU budget losses annually is likely to be
around £4.3 billion – five billion euros – 'or even more'”.