Cyprus: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

February 21, 2007

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Cyprus: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2007) accessed November 21, 2024

Summary

This report reviews the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations on Anti-Money Laundering and Combating the Financing of Terrorism for Cyprus. The report highlights that the Cypriot authorities have demonstrated resolve to reduce the vulnerability of financial institutions and designated non-financial businesses and professions to money laundering. The Cyprus FIU (MOKAS) and the Central Bank of Cyprus have been particularly active in this respect. Since the Second Round Evaluation, both authorities were reinforced and are now adequately staffed.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Beneficial owner, CR, Cyprus authorities, Due diligence, Europe, Firm belief, Firm commitment, Guidance note, Investment enterprise, ISCR, Legal support in revenue administration, Money laundering, Terrorism financing, UCITS management firm

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/077
Stock No:

1CYPEA2007003
ISBN:

9781451809916
ISSN:

1934-7685

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