Cyprus Mail
BusinessCyprus

Central Bank fines BoC €790,000 over AML violations

Central Bank of Cyprus (CBC)

The Central Bank of Cyprus (CBC) has slapped a €790,000 fine on Bank of Cyprus for the latter’s violation of certain provisions of the law relating to money laundering.

In an announcement, the CBC said its decision related to findings made in 2018 and 2019. It said Bank of Cyprus had failed to comply with certain provisions of the ‘Prevention and suppression of money laundering activities and financing of terrorism’ law.

No further details were given.

The fine imposed can be reduced by 15 per cent if paid within a certain timeframe.

Follow the Cyprus Mail on Google News

Related Posts

Court orders new report into deaths of 35 Cypriots

Tom Cleaver

A festival all about women

Eleni Philippou

Eight arrests made over Lakatamia attempted murder

Tom Cleaver

Three cars destroyed by arson in Limassol

Tom Cleaver

Extreme balance: a contortionist’s story

Theo Panayides

Guidelines for logo size: What is the best logo size for social media and websites?

CM Guest Columnist