Brussels wants to create a European prosecutor to tackle fraud related to EU funds.
The European Commission’s proposal first needs the support of the bloc’s member states and approval from the European Parliament.
A minimum of nine EU countries that support the idea is required for the office to be created.
“Roughly 500 million euros of taxpayers money is lost this way every year, because it can not be prosecuted across borders. So that is the minimum we would like to preserve,” Viviane Reding, the EU justice commissioner, told euronews in an interview.
The UK, Ireland and Denmark will not take part.
Britain said last year it will seek to opt out of EU policing and crime legislation.
The European Commission said a new body is needed because its own anti-fraud office, OLAF, has no power of prosecution.
The EU executive also argued that a new centralised authority will save money.