February 23, 2011 / 11:35 AM / 9 years ago

EU Commission urges fresh steps on ETS security

BRUSSELS (Reuters) - The European Commission recommended actions on Wednesday to strengthen the security of the European carbon market following cyber-thefts last month.

“The Commission has identified a range of actions that member states can already take in the short term to further improve security for example by regularly reviewing security plans, by reinforcing registry account policies and identity checks, by training registry users,” EU climate commissioner Connie Hedegaard said in a statement.

The Commission also recommended to a committee of EU experts on Wednesday that they make a risk-based review of existing registry account holders, share information on any suspicious requests to open trading accounts, and step up action against VAT fraud.

“Not all (EU) member states have yet eliminated the risk of VAT fraud despite the existence of enabling legislation at EU level to do so,” the Commission added.

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