Cyprus Mail
Cyprus

Links to Mossack Fonseca must be declared by April 20

All regulated entities have been called on to inform the Cyprus Securities and Exchange Commission (CySec) if they have or had any link with Mossack Fonseca, the law firm which gained global prominence after the leak of Panama papers.
Entities in Cyprus have until April 20 to look through their records and inform CySec if they maintain or maintained any relationship with the Panama firm or a third person acting or representing it.
According to a circular released earlier this week, entities should also inform the commission if they have or had any business relationship with customers introduced or managed by Mossack Fonseca or any person who appeared to be included in the Panama papers.
The move is in line with article 58(d) of the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007-2016, the circular said and any submissions should be made to [email protected]
Mossack Fonseca (Cyprus) Ltd, a representative office of the Panamanian company, was registered in Cyprus in 2003. The company asked to be deleted from the registry of companies registered in Cyprus last month.
The leak showed how a series of suspicious-looking transactions went through Panama, Russia, Switzerland, and Cyprus, with hundreds of millions in unsecured loans ending up with companies controlled by individuals in Putin’s close circle.

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