Italian finance police uncover 1.5 bn euros of waste

Conducts 12,500 operations to look after public funds in 7 mos

Italian finance police uncover 1.5 bn euros of waste

Rome, August 23 - Italian finance police have uncovered 1.5 billion euros worth of wasted public spending and revenue losses in 12,500 operations over the first seven months of the year, the Guardia di Finanza (GdF) police announced on Friday. The finance police also discovered one billion euros worth of fraud and more than 3000 people sapping social security benefits with fake handicaps or pretended poverty. All in all 8000 people were accused of either fraud or irresponsible behavior toward public coffers, with 51 placed under arrest. The finance police seized 200 million euros worth of assets from those accused of fraud - a 40% increase over the same period last year - and froze 450 million euros of unpaid public contributions.

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