Claims that money laundering is unfolding without oversight at one of Cyprus’ points of entry are being investigated, Finance Minister Makis Keravnos said on Friday.

His statement follows reports that Akel MP Christos Christofides had written to Auditor-General Odysseas Michaelides, citing a “credible source” alleging a “black hole” at entry points for private flights.

According to Christofides, the lack of a permanent customs officer at the location creates an opportunity for money laundering.

Keravnos assured that the finance ministry is treating the report with utmost seriousness and has taken immediate steps to investigate the matter.

He added that efforts are underway to improve the customs department’s operations for more effective oversight.

The minister said he has issued instructions to ensure proper shift coverage at entry and exit points. There also efforts to strengthen the cooperation and communication between the anti-money laundering unit (Mokas) and the customs department.

“In the context of the implementation of the relevant legislation of the European Union, the finance ministry will continue to apply, with the appropriate seriousness and rigour, all those procedures for the proper control of the entry and exit points from the Republic of Cyprus with the sole aim of protecting the state and the economy,” Keravnos said.

Earlier this year, MPs raised concerns over whether Cyprus is actually carrying out its duties on money laundering compliance after it emerged the police, Mokas and customs department have a glaring gap in their coordination and communication.

They called for resignations after revealing that over €160 million in cash had entered Cyprus over the past four years, criticising the authorities for their apparent lack of action on tax evasion and money laundering investigations.