The Council of Ministers approved Cyprus’ first National Anti-Fraud Strategy for the Protection of the Financial Interests of the European Union on May 27, together with an accompanying five-year action plan.
The strategy is part of efforts to strengthen sound financial management, transparency and the protection of European and public funds.
According to an announcement by the Treasury of the Republic and Cyprus’ Anti-Fraud Coordination Service, the strategy aims to create a single, coherent and horizontal national framework for the prevention, detection, investigation, recovery and monitoring of fraud and irregularities affecting the EU’s financial interests.
It covers both expenditure and revenue under the EU budget, as well as key areas of European funding for the Republic of Cyprus. These include cohesion policy, the Common Agricultural Policy, the Common Fisheries Policy, migration and home affairs, and the Recovery and Resilience Facility.
The strategy was prepared by Cyprus’ Anti-Fraud Coordination Service, with the support of the Treasury of the Republic, which serves as the service’s secretariat. It was also developed with the assistance of the Organisation for Economic Co-operation and Development, under an EU-funded technical support project.
Cyprus’ Anti-Fraud Coordination Service will have a central role in coordinating implementation. Its members include the Accountant General of the Republic as chair, the Attorney General of the Republic, the Chief of Police, the Tax Commissioner, the Director of the Customs Department and the Commissioner for Agricultural Payments. The Auditor General of the Republic and the Internal Audit Commissioner participate as independent observers.
The European Public Prosecutor’s Office and the European Delegated Prosecutors in Cyprus will also contribute to the implementation of the strategy, along with the Independent Authority Against Corruption, the Unit for Combating Money Laundering, the Ministry of Justice and Public Order, the Deputy Ministry of Research, Innovation and Digital Policy and other competent bodies.
The five-year action plan includes specific measures, timetables, monitoring indicators and competent implementing authorities. It focuses on risk assessment, stronger controls, training for the authorities involved, improved reporting and referral procedures, the use of digital tools and closer coordination between services.
Implementation will be monitored through Cyprus’ Anti-Fraud Coordination Service, with progress reviewed every six months and an annual report submitted to the Minister of Finance and the Council of Ministers.
The announcement said the approval of the strategy forms part of wider efforts by the Republic of Cyprus to strengthen institutional cooperation, prevention and the early detection of fraud risks. It also aims to help the state adapt to modern challenges created by new technologies and the need for effective information exchange between competent authorities.
With the adoption of its first national anti-fraud strategy, Cyprus is further strengthening its national framework for protecting the EU’s financial interests and reaffirming its commitment to legality, transparency and the effective management of European funds.
Source: CNA
