45 results found

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has reached to the conclusion that Cyprus is complying...

The Central Bank of Cyprus has announced that it intends to carry out a comprehensive national risk assessment of measures to combat money laundering and terrorist financing.

The US Department of Treasury Assistant Secretary for Terrorist Financing, Marshall Billingslea, visited Cyprus 18 & 19 April "to ensure that Cyprus has a strong and healthy financial sector"

CySEC has issued Circular C.339 (available in English here), addressed to CySEC regulated entities, which adopts the new Terrorist Financing Risk Assessment Guidance (Guidance)

As it was announced recently, Cyprus will join officially the Schengen Information System on 25 July 2023.

In 2021, the European Commission proposed the creation of the Anti-Money Laundering Authority (AMLA) as part of its new AML Package.

AMLA will wield both direct and indirect supervisory powers over high-risk obliged entities within the financial sector.

On 2 May 2025, the Central Bank of Cyprus published a revised directive on the prevention of money laundering and terrorist financing, set to take effect on 2 June 2025.

The Cyprus Securities and Exchange Commission (CySEC) introduced a Policy Statement CP-02-2020 which is a transformative regulatory framework aimed at modernizing customer onboarding in the financial services factor.

This article is based on the AML Regulation Factsheet by Accountancy Europe, which outlines the latest changes introduced by the European Union's Anti-Money Laundering (AML) reform.

The European Union has recently adopted a new amended Europol Regulation. Europol is the law enforcement agency of the European Union.

It should be noted that, CyTBOR platform is available to trustees as of 17th of May 2022 and all respective parties as of 17th of June 2022.

The Institute for Economics and Peace has published the Global Terrorism Index (GTI), which outlines the main trends in global terrorism.

In October 2024, Cyprus enacted Law 116(I)/2024 on the Prevention of the Dissemination of Terrorist Content Online to align its legal framework with EU Regulation 2021...

Cyprus has elevated its ultimate beneficial owner (UBO) reporting status by implementing all of the mechanisms for the creation, operation and maintenance of a UBO register.

The Cyprus Bar Association has issued its first Guidelines on Business-Wide Risk Assessment (BWRA), establishing a comprehensive framework for supervised entities to identify and mitigate money laundering, terrorist financing and sanctions risks. These guidelines provide practical direction for compliance with the new EU Anti-Money Laundering Regulation ahead of its July 2027 implementation deadline, outlining methodologies for risk assessment, control evaluation and ongoing monitoring requirements.

Notification & passporting: Funds must submit core documents—such as the prospectus, KIID, and reports—to host NCAs before marketing; some jurisdictions allow marketing once an acknowledgment is received

Enhanced and additional measures have been established and applied by the Central Bank of Cyprus through amendment of its directive on Prevention of Money Laundering and Terrorist Financing issued on 7 April 2016