Financial Crime World

Financial Institution Security in Slovakia

Introduction

The Ministry of Finance of the Slovak Republic has established the Financial Directorate of the Slovak Republic (FD SR) to ensure financial institution security in Slovakia. The FD SR is a state-budget funded organization connected to the state budget through the budget chapter of the Ministry of Finance.

Responsibilities and Tasks

  • Managing and controlling tax authorities, customs offices, and the Financial Administration Criminal Office
  • Developing a concept for the development of the Financial Administration
  • Ensuring uniform application of special regulations and international treaties in the field of taxes, fees, and customs
  • Creating, developing, and operating financial administration information systems
  • Maintaining central registers of economic operators and tax entities
  • Assigning EORI numbers to economic operators
  • Providing information on tax and fee matters
  • Carrying out activities related to intellectual property rights

Security and Intervention

  • Ensuring the security of the state and preventing threats to health, property, or life
  • Performing acts that otherwise fall within the competence of tax authorities, customs offices, and the Financial Administration Criminal Office in cases where immediate intervention is necessary

Governance Structure

  • The statutory body of the FD SR is the President of the Financial Administration, who is appointed and dismissed by the Minister of Finance of the Slovak Republic
  • The President manages the Financial Administration and is accountable for its activities to the Minister

Additional Tasks

  • Drawing up analyses of state budget revenue execution
  • Detecting and documenting criminal activities
  • Carrying out inspection activities
  • Organizing examinations in accordance with special regulations
  • Collecting, documenting, preserving, and processing objects of tangible and intangible historical heritage related to customs and taxation

Conclusion

The Financial Directorate of the Slovak Republic plays a critical role in ensuring financial institution security in Slovakia by performing its various tasks and responsibilities. Its efforts help maintain a secure and stable financial environment for both domestic and international stakeholders.