Nicosia: Cyprus will play a decisive role in negotiations on the protection of the Union’s financial interests during its Presidency of the Council of the EU, said Finance Minister Makis Keravnos at a meeting with the Deputy Director-General of the European Anti-Fraud Office (OLAF), Salla Saastamoinen, in preparation for the Cyprus Presidency of the Council of the EU.
According to Cyprus News Agency, the meeting examined key European developments in the protection of the Union’s financial interests, including the review of the European Anti-Fraud Architecture (EUAFA), discussions on the new Multiannual Financial Framework (MFF 2028-2034), and the strengthening of OLAF-EPPO cooperation.
They also discussed Cyprus’ progress in developing its first National Anti-Fraud Strategy, which is being developed by the National Coordination Body for Combating Fraud against the EU’s financial interests – AFCOS Cyprus, chaired by the Accountant General of the Republic, and which will be officially presented in June 2026, during the Cyprus Presidency.
The Finance Minister said that protecting European taxpayers’ money is a priority and must be a central focus of the new MFF, while Saastamoinen conveyed the importance that Commissioner Serafin attaches to the fight against fraud, emphasizing the crucial role of the Cyprus Presidency in promoting the relevant dossiers.
“‘I’m very glad to be visiting Cyprus, especially at such an important moment with Cyprus preparing to take over the Presidency of the Council of the EU. We discussed the major files on the protection of the EU’s financial interests, from the review of the Anti-Fraud Architecture to the negotiations on the next Multiannual Financial Framework. I count on the Cypriot presidency to advance these files. I also appreciated meeting our partners on the ground with whom we cooperate very closely in the fight against all irregularities impacting the EU budget,” she stressed in her remarks.
She also expressed her appreciation for the meeting with local partners, with whom they work very closely, as she said, in combating all irregularities affecting the EU budget.
For his part, the Minister said that “Cyprus is working systematically in close cooperation with OLAF and the European institutions to strengthen mechanisms for preventing and tackling irregularities.”
“Protecting European citizens’ resources is our top priority and a key element of the negotiations on the new Multiannual Financial Framework,” he said, adding that “we will continue to invest in training, digital tools, and artificial intelligence, while promoting solutions that enjoy the support of all Member States.”
Finally, Keravnos and Saastamoinen agreed to continue their close cooperation, promoting effective solutions to protect the European budget and enhance transparency.
In addition, the Accountant General of the Republic and President of the National Anti-Fraud Coordination Service (AFCOS), Andreas Antoniades, discussed in a separate meeting today with Salla Saastamoinen how to further strengthen cooperation between the two sides, in light of the upcoming Cyprus Presidency of the Council of the EU.
According to an Treasury statement, current European developments in the field of fraud prevention, the planned revision of the OLAF Regulation, and the progress of the new Multiannual Financial Framework (MFF 2028-2034) were discussed, while special reference was made to the work to be carried out in view of the Cyprus Presidency of the Council of the EU in 2026, during which the Commission’s proposal for the revision of the OLAF Regulation is expected to be submitted.
As stated, Antoniades presented to OLAF the important reforms being implemented through AFCOS, including the first National Anti-Fraud Strategy, which will be officially presented in June 2026 at the OLAF conference in Cyprus, while referring to the extensive use of the ARACHNE platform in all shared management programs and the Recovery and Resilience Plan, to identify risks of fraud, conflicts of interest, and possible double funding.
Finally, the Accountant General reiterated the State’s commitment to close cooperation with OLAF and the European Commission, ensuring the effective protection of European resources and strengthening the country’s credibility, the statement concludes.