New Money Laundering Probe for Cyprus

The Famagusta Gazette
December 7, 2013

http://famagusta-gazette.com/new-money-laundering-probe-for-cyprus-p21646-69.htm

MONEYVAL will also be releasing its reports on the Vatican and the Holy See, as well as the UK and Israel.

A MONEYVAL report on the effectiveness of the measures implemented by the Republic of Cyprus in its banking sector is expected to be released next week.





The report, requested by the Eurogroup, will also state whether Cyprus has conformed to MONEYVAL recommendations for the scrutinising of the banking sector, with an aim to address money laundering.





The last report on Cyprus praised the authorities for its anti-money laundering methods, said the possibility of similar incidents in the future was minimal, and restricted its recommendations to technical issues.





MONEYVAL will also be releasing its reports on the Vatican and the Holy See, as well as the UK and Israel.