On 13 January, In-Cyprus reported that a follow-up report from MONEYVAL said that Cyprus has made some progress in improving its level of compliance with FATF standards on combatting money laundering and the financing of terrorism.  However, it is also said that some shortcomings have still to be addressed.  The First Enhanced Follow-up Report was published on 13 January.  Following the report, Cyprus will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Cyprus is expected to report back within 1 year’s time.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: