#anti money laundering

Italy’s finance police on Thursday said they had seized assets and companies worth more than €200 million ($232 million) in an investigation into the laundering of drug trafficking proceeds linked to ...

A 45-year-old police officer was among three people arrested on Thursday as part of two operations in Limassol targeting organised crime, with authorities freezing assets worth more than €420,000. Police said ...

Serious allegations of corruption and money laundering involving the north’s ‘prime minister’ Unal Ustel and his son surfaced on Tuesday, placing renewed pressure on an administration already facing multiple ...

The European Union’s new agency formed to fight dirty money said on Wednesday it was on track to be fully operational in 2028, as it set out its plan to ...

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations are critical for preventing financial crimes. However, over-compliance with these regulations – when organisations go beyond the required standards – can lead to unintended ...

The Cyprus Securities and Exchange Commission (CySEC) welcomed the findings of a Moneyval report released a day prior regarding progress made in addressing money laundering and terrorism financing. Moneyval is ...

The government is looking to create a single authority to handle sanctions and money laundering matters, it emerged on Thursday after a meeting with the president, finance minister and accountants’ ...

Police on Wednesday carried out busts against a “criminal organisation involved in the smuggling of irregular migrants to Cyprus”, with five arrests made. The move came as President Nikos Christodoulides ...

Officials have given assurances that by September Cyprus will do a test run of an ultimate beneficial owners (UBO) register for companies, and that by the end of the year ...

The European Commission has opened infringement proceedings against Cyprus for the latter’s failure to correctly transpose the 5th Anti-Money Laundering Directive. The letter of formal notice to Cyprus is ...

Establishment of the register of Ultimate Beneficial Owners for Cyprus companies and other legal entities By Eleni Louka On 20 May 2015, the European Council issued the Directive (EU) 2015/849 (the fourth AML ...

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 ...

By Michele Kambas Cyprus plans to launch a register in coming months identifying the owners of thousands of companies on the island, lifting a veil of secrecy on opaque and ...