Register of company owners to lift veil of secrecy
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...
anti money laundering
Licences of two law firms revoked over anti-money laundering failures
The bar association has revoked the licence of two law firms who had fallen foul of money laundering regulations while five other cases relating to...
Ireland, Romania fined by EU top court over anti-money laundering rules
The European Union’s top court fined on Thursday Romania and Ireland for delays and incomplete application of the bloc’s rules against money laundering, it said...
Cyprus Casinos says ‘dedicated to best-practice anti-money laundering procedures’
Cyprus Casinos (C2) said Thursday it was dedicated to industry-leading and best practice anti-money laundering procedures across its operations and was implementing all regulations of...
Anastasiades: last-minute Russian ban in US’ Cyprus bill ‘unfortunate’
President Nicos Anastasiades on Wednesday night described as “unfortunate” an amendment to a bill out of Washington to end the decades-long US arms embargo on...
Non-resident deposits drop, as Cyprus adopts stricter AML policies (updated)
Non-resident bank deposits registered a 13 per cent drop in 2018 as a result of stricter anti-money laundering (AML) policies adopted by the banking sector,...
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...
Victory for FBME lawyers over access to documents
FBME bank lawyers are allowed access to specific documents inside the bank, an interim ruling by the administrative court ordered on Wednesday. FBME was placed...
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...
Anti money-laundering unit warns public of ‘mule’ scams
The Anti-Money Laundering Unit (MOKAS) on Wednesday issued a warning to the public over online fraud involving ‘money mules’ or ‘smurfs’ as the term is...