#anti money laundering

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 ...

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 ...

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 ...