Mokas has approached president’s former law firm in wake of OCCRP report
The anti-money laundering unit Mokas said Wednesday it had already asked President Nicos Anastasiades’ former law firm for information regarding a report linking the company...
aml
Moneyval officials in Cyprus for financial-sector review
A team from the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, also known as Moneyval, arrived in...
Banks need to speed up due diligence, CBC governor says
New Central Bank Governor Constantinos Herodotou, has called on Cypriot banks to invest in technology and staff training to speed up due diligence checks on...
Casinos, offshore banking keeps north on money-laundering radar
Casinos and the offshore banking sector in the breakaway Turkish Cypriot state in the north of the island remain areas of concern for money laundering...
Shell companies directive helps money laundering fight: Moody’s
The central bank’s (CBC) new directive on shell companies is credit positive for Cypriot banks, because the specific definitions of shell companies will help eliminate...
Billions lost in cash crackdown on money laundering
EVEN depositing the cash received for your wedding, a fairly simple banking task in the past, has apparently become arduous in recent days, as lenders...
Cyprus finds its economy entangled in US-Russia tug-of-war
By Stelios Orphanides While the increasingly stricter anti-money laundering (AML) practices applied in the Cypriot financial system in recent years are already disgruntling businesses, the...
CBC fines RCB Bank €800,000 citing failure to comply with AML law
The Central Bank of Cyprus said it fined RCB Bank €800,000 citing the Russian-owned lender’s failure to comply with provisions of anti-money laundering legislation. “The...
CBC fines Hellenic Bank €1.1m after spotting AML shortcomings
The Central Bank of Cyprus said it had fined Hellenic Bank, Cyprus’s third largest lender in excess of €1.1m for failing to comply with provisions...