The article analyses the state of implementation and the effectiveness of measures applied by competent administrative programme authorities under shared management in the EU cohesion policy for the prevention, detection, correction and prosecution of fraud. It discusses the concrete initiatives taken to increase the preparedness of the management and control systems against fraud and presents the various components needed for a consistent administrative response in reaction to fraudulent irregularities. It also discusses possible reform ideas and looks at what will change with the European Public Prosecutor’s Office.