Title: FBI and Cyprus Sign Agreement to Boost Cooperation Against Financial Crimes

Collaboration to Combat Money Laundering, Sanctions Evasion, and Other Financial Crimes

On Tuesday, the United States and the Republic of Cyprus announced their plan to formalize their partnership in the fight against financial crimes. This includes money laundering, sanctions evasion, and other illicit activities.

Joint Statement: FBI and Cypriot Police to Cooperate on Cases

According to a joint statement from the two governments, an agreement will be signed in the coming days between the FBI and the Cypriot police. This partnership will enable the U.S. Department of Justice to offer assistance to Cypriot law enforcement authorities in the detection, investigation, and prosecution of financial crimes within Cyprus.

Invitation for Collaboration Following Allegations of Sanctions Evasion

Cypriot President Nikos Christodoulides extended an invitation last year to FBI and Department of Justice officials to collaborate on probing allegations that certain financial service providers in Cyprus had aided Russian oligarchs in circumventing international sanctions.

Strict Action against Believed Offenders

The United States has taken action against several Cypriot-based companies, lawyers, and accountants, who are believed to have contributed to the evasion of the international sanctions. This new pact aims to strengthen the Cypriot financial regulatory framework to prevent and punish such offenders more effectively.

Extensive Discussions Lead to Agreement

This agreement represents the culmination of extensive discussions between the two countries. Both sides have expressed their commitment to intensifying their efforts to counter financial crimes and uphold the integrity of the international financial system.

• Money laundering
• Sanctions evasion
• Proactive detection and investigation of financial crimes
• International cooperation
• Upholding the integrity of the international financial system