The Financial Investigations and European Anti-Fraud Office Related Matters Unit within the IAID has the remit to conduct financial investigations in Government Departments and in any other public or private entities which are in any way beneficiaries, debtors or managers of public funds, including EU funds, for the purpose of protecting such funds against irregularities and fraud or otherwise to assess such public or private entities’ liability to contribute to such funds.

A financial investigation means the in-depth examination of all circumstances relative to irregularities and cases of suspected fraud, including the corruption of public officers, and, in that regard, the acquiring of records and, or information and the carrying out of related assessments, analysis and recommendations. Investigations relate to inquiries aimed at uncovering the hidden facts and establishing the truth. They imply a systematic track-down of information and include probing.

The IAID is the designated interlocutor of DG OLAF in Malta and is the Anti-Fraud Co-ordinating Service (AFCOS) for Malta; this implies that this IAID Unit can conduct joint investigations with OLAF, the European Ant-Fraud Office, with respect to EU funds availed of by Malta. The Unit reports irregularities to DG OLAF on a quarterly basis with respect to Pre-accession Funds, Transition Facility Funds, Structural Funds, Cohesion Fund and Agricultural Funds. The Unit also provides substantial contributions, including feedback, to various sub-units within OLAF all in charge of protecting the EU financial interests under different facets.

The IAID has also embarked upon the project of drafting a ‘National Anti Fraud and Corruption Strategy’ following a report ‘Assessment of the Anti-Fraud System in Malta’ drawn up in 2006 by SIGMA – Support for Improvement in Governance and Management – experts. The main aim of this Strategy is to set up a normative, institutional and operational framework for the effective and efficient fight against irregularities, fraud and corruption in Malta.