Cyprus has launched its anti-fraud policy agenda while holding the EU Council Presidency, marking a significant step in safeguarding the financial interests of the European Union. The initiative kicked off with the first meeting of the Working Party on Combating Fraud in Brussels, where the new director-general of the European Anti-Fraud Office (OLAF), Petr Klement, was welcomed.
Anti-fraud policy: A New Chapter in Anti-Fraud Efforts
The meeting, chaired last week by the director of the Directorate of Financial Control of European Funds, showcased Cyprus’ commitment to leading discussions on crucial financial matters within the EU. This agenda aligns with the Presidency’s motto, ‘An Autonomous Union, open to the world’, and aims to enhance cooperation among Member States and EU institutions.
Shared Responsibility for Financial Protection
In a statement released by the general accounting office, the Presidency highlighted that “the protection of the European Union’s financial interests is a matter of shared responsibility.” This sentiment underscores the necessity for political will, institutional coherence, and closer collaboration among Member States and European institutions to effectively combat fraud.
Strengthening Ties with Key Institutions
Petr Klement, attending his first meeting in this capacity, stressed the importance of fostering closer ties between Member States and OLAF. He specifically mentioned the need to strengthen connections with the European Public Prosecutor’s Office (EPPO), indicating that collaborative efforts would be pivotal in addressing fraud-related challenges.
Upcoming Evaluations and Legislative Initiatives
Klement also drew attention to the forthcoming evaluation of the OLAF Regulation, which is expected by June 2026. This evaluation represents a critical opportunity to identify and resolve legal and operational barriers that hinder effective information-sharing between OLAF, the EPPO, and Europol.
A Focus on Financial Management
During the session, discussions revolved around the effective protection of the EU budget. The Presidency stated that this protection is directly linked to sound financial management, institutional credibility, and the trust of citizens in EU institutions. The emphasis on these areas is crucial as Cyprus embarks on its six-month term at the helm of the EU Council.
Proposed Legislative Framework for Future Initiatives
A significant legislative file presented during the meeting was the proposed Pericles V programme, aimed at supporting exchanges, assistance, and training to protect the euro against counterfeiting from 2028 to 2034. This initiative is designed to fortify the EU’s financial integrity and enhance its capacity to combat fraud.
Member States’ Contributions and Future Discussions
As the meeting progressed, only a limited number of Member States raised substantive comments regarding the Presidency’s first compromise text. However, the European Commission expressed its approval of Cyprus’ proactive approach to anti-fraud policy, marking a positive start for the new presidency.
Continued Technical Talks Ahead
Looking ahead, technical discussions will continue at the next meeting, which will focus on further refining the proposed initiatives and addressing any outstanding concerns among Member States. The session also included an examination of the European Court of Auditors’ Special Report 26/2025, which evaluates EU bodies involved in combating fraud.
Improving Information Exchange
Discussions highlighted the importance of enhancing information exchange and strengthening follow-up on fraud cases at the European level. The Presidency briefed Member States on recent developments related to the Single Market and Customs Programme, stressing the need for coordinated efforts across various Council working groups to protect the Union’s financial interests.
Cyprus’ Commitment to an Effective Anti-Fraud Strategy
With the successful launch of its anti-fraud agenda, Cyprus has signalled its intent to adopt a coordinated and results-oriented approach during its presidency. By placing collaboration with Member States, EU institutions, and the newly appointed OLAF leadership at the centre of its agenda, Cyprus aims to strengthen the EU’s fight against fraud and enhance the integrity of its financial systems.
