The Directive (EU) 2017/1371 establishes minimum rules for criminal offences and sanctions aimed at combating fraud affecting the Union's financial interests, encompassing all revenues, expenditure, and assets associated with the Union budget. It mandates Member States to ensure that fraudulent actions, encompassing misrepresentation and corrupt practices, are criminalised and subjected to effective penalties. Notably, it includes provisions regarding serious VAT fraud, requiring a substantial threshold of financial damage to trigger criminal liability.

Additionally, the Directive addresses the liability of legal persons for crimes committed for their benefit and reinforces the need for cooperation among Member States and Union institutions in investigation and prosecution. Member States are required to transpose the Directive into national law by July 2019, establishing necessary measures for effective enforcement, including appropriate sanctions and jurisdictional frameworks to address cross-border offences.