Top Scam warning

This is like an urban legend, eh, or some old fairy tale.
Italian authorities and the European Anti-Fraud Office (OLAF) in Brussels, Belgium, have confirmed that they are prosecuting members of a large network accused of pocketing more than €50 million (US$72 million) in EC grants for fake research projects. Whole entire structure was full fake by criminals.
According to Naturenews commission's notoriously cumbersome procedures and rigid control mechanisms have apparently not prevented a criminal syndicate from conducting a brazen fraud that has siphoned off millions in EC grant funds.
The fraud has been conducted in a highly sophisticated manner, resembling money laundering, by means of a cross-border network of fictitious companies and subcontractors.
Several project coordinators stand accused of having claimed inflated costs, or expenses for non-existent research activities and service.

The projects were apparently organized with the sole intention to deceive the commission and its control mechanisms.
While investigations continue, Italian prosecutors and OLAF will not disclose the names of the suspects, or the research projects with which they were involved.

I'm worried that some will argue that what has happened proves that we need more rather than less control, says Herbert Reul, chair of the European Parliament's committee on industry, research and energy, which supports the simplification of the EC's funding procedures.

But `more control´ doesn´t good idea: it won´t help if the system is likewise rontten as European Union. I think that the Union´s time has gone.