ARTICLE · 12 MARCH 2020

Moneyval Report - February 2020

A. Karitzis & Associates L.L.C

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Following the on-site visit carried out by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism to the Republic of Cyprus from the 13th of May 2019 to the 24th of May 2019 ...

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A. Karitzis & Associates L.L.C

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Following the on-site visit carried out by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism ("MONEYVAL") to the Republic of Cyprus from the 13^th of May 2019 to the 24^th of May 2019 for the purpose of assessing the effectiveness of the Republic's Anti-Money Laundering and Counter Financing of Terrorism ("AML/CFT") system as well as its level of compliance with the 2012 Recommendations of the Financial Action Task Force ("FATF"), MONEYVAL issued its Fifth Round Mutual Evaluation Report (the "Report") on the 12^th of February 2020.

MONEYVAL has issued the Report in its capacity as the permanent monitoring body of the Council of Europe which is entrusted with the task of assessing compliance with the principal international standards to counter money laundering and terrorist financing and the effectiveness of their implementation, as well as with the task of making recommendations to national authorities in

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