Slovakia Tackles Financial Crime with New Strategy
Bratislava, Slovakia - The Organisation for Economic Co-operation and Development (OECD) has published a country-specific strategy to prevent financial crime in Slovakia, focusing on the European Structural and Investment Funds (ESI Funds).
Country-Specific Project
The 18-month project was conducted in collaboration with the Central Co-ordinating Body (CCB) within the Government Office of the Slovak Republic. The project involved fact-finding missions, interviews with four representative managing authorities, and workshops with project participants.
Key Areas for Improvement
According to the report, two key areas require improvement:
- Enhancing fraud and corruption risk assessments, focusing on data-driven approaches to risk management
- Adopting a systematic approach for managing fraud and corruption risks involving ESI Funds
Action Items
To address these issues, the OECD identified several key action items, including:
- Clarifying scoring criteria for fraud and corruption risks
- Conducting periodic statistical analysis of irregularities
- Organizing information-sharing forums between authorities responsible for managing ESI Funds
- Providing a template for a fraud risk management scorecard for managing authorities
Common Schemes and Preventive Actions
The guide highlights common challenges faced by EU Member States regarding fraud and corruption in ESI Funds, including:
- Applicant falsification
- Collusive bidding
- Fabricating fictitious works
It provides concrete actions to take at each stage, such as:
- Requiring staff disclosures of family member interests
- Cross-checking information using data analytics
- Establishing an audit trail
Case Studies
The report includes nine case studies of actual fraud/corruption schemes, highlighting perpetrators’ tactics and the actions taken by authorities.
Improving Risk Management
According to the OECD, key areas for improvement include:
- Strengthening existing strategies for managing fraud and corruption risks
- Improving methodologies and tools for identifying and assessing risks
- Enhancing government-wide activities promoting a culture of risk management related to ESI Funds
Launch Event
The report was officially launched in October 2019, with an event attended by Deputy Prime Minister Richard Raši and Deputy Secretary General Jeffrey Schlagenhauf. The publication was also promoted through social media and covered by Slovak media.
Seminar on Financial Crime Prevention
During Integrity Week 2019, the OECD organized a seminar with experts from Member States and EU-level institutions to gain their perspectives on different thematic areas relative to the strategy. The event aimed to raise awareness of financial crime prevention and promote cooperation among stakeholders.
Accessing the Report
The report is available for download in the OECD i-Library or can be read online.