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The authors offer many insights into the regulatory, operational and institutional opportunities and challenges for OLAF, the European Commission's Anti-Fraud Office. Since OLAF was set up in 1999, significant changes in its functional environment have taken place including in EU criminal law and especially in mutual assistance and substantive criminal law; the reconstruction of Eurojust and Europol through recent Regulations and Memoranda of Cooperation; and, the entry into force of the Lisbon Treaty. The authors advance the view that OLAF's current legal framework must address these issues a.