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

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.

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Year of publication:	2007-02-21
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Combating the financing of terrorism \| Financial institutions \| Reports on the Observance of Standards and Codes \| money laundering \| terrorist financing \| terrorism \| financing of terrorism \| terrorist \| due diligence \| law enforcement \| supervisory authorities \| competent authorities \| criminal liability \| predicate offences \| beneficial ownership \| money laundering activities \| terrorism offence \| business relationships \| suspicious transaction \| precious metals \| administrative sanctions \| legal assistance \| shell banks \| insurance intermediaries \| supervisory authority \| foreign branches \| control information \| terrorist financing techniques \| laundering activities \| audit function \| precious stones \| dual criminality \| value transfer \| international co ? operation \| terrorist assets \| independent source documents \| unusual transactions \| information exchange \| risk customers \| legal arrangements \| financial intelligence unit \| money laundering offence \| transaction reports \| foreign counterparts \| transaction records \| internal controls \| transaction reporting \| suspicious transaction reports \| trust service providers \| lawful purpose \| money laundering cases \| risk management procedures \| beneficial owners \| supervisory bodies \| risk management \| suspicious transaction reporting \| combating money \| money laundering measures \| anti ? money laundering \| money laundering investigations \| domestic legislation \| criminal offence \| record keeping requirements \| wire transfer \| narcotic drugs \| financial transactions \| predicate offence \| financial crime \| combating money laundering \| supervisory regime \| criminal investigation \| exchange information \| law enforcement information \| dissuasive sanctions \| banking supervisors \| financial investigation \| enforcement authorities \| criminal matters \| confiscated assets \| compliance officer \| reporting requirements \| suspicious transactions \| drug trafficking \| laundered property \| money remittance \| collective investment schemes \| transferable securities \| financial secrecy \| anti ? money laundering measures \| customer identification \| legal assistance requests \| assessment methodology \| secrecy laws \| drug money \| criminal sanctions \| law enforcement authorities \| international standards \| countering money laundering \| financial investigators \| face ? to ? face business \| banking supervision \| negotiable instruments \| technical resources \| criminal proceeds \| payable ? through accounts \| united nations security \| investigative powers \| financial activity \| confiscation proceedings \| due diligence procedures \| non ? financial businesses \| foreign authorities \| secrecy law \| due diligence standards \| risk accounts \| customer identification requirements \| control structure

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 07/77 2 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011243986