Anti-Money Laundering
10
Aug
The Central Bank of Cyprus is tightening its stance against money laundering by asking the credit institutions that it regulates to avoid doing business with “shell and letterbox companies.” On June 14th, 2018, the Central Bank of Cyprus issued a circular to its supervised banks, advising them against continuing existing accounts or opening new accounts […]
16
May
The European Council has issued the following press release: On May 14 2018, the Council adopted a directive strengthening EU rules to prevent money laundering and terrorist financing. The directive sets out to close down criminal finance without hindering the normal functioning of payment systems. Amending directive 2015/849, it is part of an action plan launched after a spate […]