Active Stocks
Thu Apr 18 2024 13:25:25
  1. Tata Steel share price
  2. 163.20 1.97%
  1. Power Grid Corporation Of India share price
  2. 282.15 2.84%
  1. Infosys share price
  2. 1,427.90 0.93%
  1. NTPC share price
  2. 357.95 -0.36%
  1. State Bank Of India share price
  2. 755.80 0.52%
Business News/ News / India/  Fraudsters offer 400 million 'ghost' Covid vaccines in EU: officials
BackBack

Fraudsters offer 400 million 'ghost' Covid vaccines in EU: officials

Fraudsters have offered 400 million doses of Covid-19 vaccines worth some €3 billion to European Union countries, two officials, showing how criminals seek to capitalise on a botched inoculation campaign weighing on the bloc's economic recovery

Photo: iStockPremium
Photo: iStock

BERLIN/BRUSSELS : Fraudsters have offered 400 million doses of Covid-19 vaccines worth some 3 billion euros to European Union countries, two officials, showing how criminals seek to capitalise on a botched inoculation campaign weighing on the bloc's economic recovery.

EU leaders will discuss by videoconference on Thursday how to protect their 450 million citizens from new, more contagious variants of the coronavirus, ensure stable vaccine deliveries, ramp up production and update jabs to counter new strains.

Two officials with the bloc's executive European Commission estimated that around 400 million doses of "ghost" vaccine had been offered by fraudsters at a price of up to €3 billion ($3.67 billion).

"There is a really large quantity," one said. "Nobody has any idea what is actually in these vials...The best case is it's just not working, in the worst case it's a very serious issue."

The official, who noted that most of the shots offered to EU governments by traders were purportedly the AstraZeneca vaccine, compared the situation to the start of the coronavirus pandemic in early 2020 when criminal exploited a shortage of masks and other protective equipment.

A second official, who also spoke on condition of anonymity, said the Commission was worried about "ghost" vaccines.

"It is unclear whether these are genuine vaccine doses or if we are just talking about salt water in small vials," the official told Reuters.

The EU had warned already that vaccine fraud was on the rise, with fake doses circulating on the market, but the extent of the problem has been unclear until now.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 25 Feb 2021, 05:39 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App