Financial Crime World

Title: White Collar Crime Crackdown in Slovakia: A Look into the Legal Framework and Recent Developments

The Slovak Republic, a landlocked European Union (EU) member state, has been taking proactive steps to strengthen its fight against white collar crimes, with a particular focus on corruption. In this article, we delve into the essential legal framework and recent developments in this area.

1.1. Definition of Crimes and Applicable Legislation

The Slovak Republic’s primary legislation against bribery and corruption is outlined in Act No. 300/2005 Coll. (Slovak Criminal Code), which falls under Chapter 8. This legislation addresses various forms of corruption, such as:

  • Receiving a bribe
  • Bribery
  • Indirect corruption
  • Election corruption
  • Sports corruption
  • Receiving and granting an undue advantage

1.2. International Anti-corruption Conventions

The Slovak Republic, as a party to several international anti-corruption conventions, is bound to adhere to the following:

  • Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
  • Criminal Law Convention on Corruption
  • Additional Protocol to the Criminal Law Convention on Corruption
  • Civil Law Convention on Corruption
  • United Nations Convention Against Corruption
  • Council Framework Decision 2003/568/JHA on combating corruption in the private sector

Bribery Offenses and Sanctions

1.1. Definition and Examples

Slovakia’s definition of bribery encompasses any thing or performance with no legal entitlement to receive. Bribery in the public sector or during the procurement of matters of general interest results in heavier penalties.

1.2. Sanctions

Corruption offenses in Slovakia are punishable by significant penalties, including:

  • Imprisonment
  • Property forfeiture
  • Monetary fines
  • Prohibitions on participation in public procurement

Gifts, Hospitality, and Anti-corruption Compliance

2.1. General Guidelines

Gifts and hospitality are permissible in Slovakia but are subject to transparency requirements. The Constitutional Act No. 357/2004 Coll. provides guidance on gifts and hospitality for public officials.

2.2. Anti-corruption Compliance and Whistleblower Protection

Private companies are not obliged to have anti-corruption compliance procedures in place but must appoint a contact person to receive whistleblower reports. The Slovak Whistleblowing Act protects whistleblowers from retaliation.

Anti-corruption Measures and Enforcement

In response to corruption, the Slovak Republic has implemented several measures:

  • Adoption of Government Resolution No. 426/2019 on the National Anti-Corruption Programme
  • Law enforcement agencies’ efforts to prevent and investigate corruption offenses
  • International cooperation to combat transnational corruption

In addition, the EU’s Public Procurement Directive requires anti-corruption measures when awarding public contracts and services across all EU member states, with the European Commission monitoring and enforcing compliance.

In Conclusion

The Slovak Republic’s legislative framework for combating white collar crimes, particularly corruption, has evolved to address both local and international demands. Despite challenges, the country’s dedication to improving transparency, preventing and punishing corrupt activities, and fostering a culture of integrity demonstrates its commitment to addressing this issue.

  • Bribery offenses and sanctions
  • Gifts, hospitality, and anti-corruption compliance
  • Anti-corruption measures and enforcement
  • International cooperation for combating transnational corruption
  • EU Public Procurement Directive and whistleblower protection

By focusing on these various aspects, Slovakia continues to strengthen its stance against white collar crimes and corruption, making it a more accountable and transparent member of the EU community.