By Nick Kochan Cyprus was once a congenial bolthole for Russians who sought security for their business, with minimal controls or taxes. The coastal resort of Limassol was dubbed ‘Little Russia’ and
By Nick Kochan Thomson Reuters Regulatory Intelligence Analysis Cyprus’s financial services compliance and enforcement organisations have been undergoing root-and-branch reforms, but the island’s regulation remains overshadowed by a legacy of largely Russian financial
“Vote of confidence” says CySEC Cyprus has improved its measures for tackling money laundering and combating financing of terrorism, according to the latest Moneyval report, with the Securities and Exchange Commission saying
By Nick Kochan Western law enforcement agencies are closing the loopholes in sanctions policies in a bid to ratchet up the pressure on anyone seeking to circumvent sanctions on Russia. A period
Massive abuse of system led to thousands of passports being issued illegally Demetra Kalogerou was the longest serving Chair at the Cyprus Securities and Exchange Commission with a reputation for building
Businesses based in Cyprus will be obliged to declare their true owners, as Cyprus takes steps to shed its spotty reputation as a money-laundering haven, to protect its fragile economy and to
The head of the anti-money laundering unit, MOKAS, told the ongoing probe into the ‘golden passports’ saga, that files regarding cases of applicants were leaked by the Interior Ministry to service providers,
Amid the turmoil over corrupt procedures for granting Cyprus passports to foreign investors, the European Commission is now accusing the Republic of not complying with anti-money laundering directives. Cyprus has failed to
By Sandra Nebritova Last week, the Swedish Financial Regulator issued yet another fine to SEB Bank – worth 1 billion Swedish Krona (€95.2 mln), one of the biggest fines in the regulator’s
