FBI and Cyprus Police Strengthen Cooperation to Combat Financial Crimes: US Embassy Announces Collaboration
The United States Embassy in Cyprus and the Republic of Cyprus (ROC) justice system announced a partnership on Tuesday, October 5, 2021, to enhance the Cypriot capabilities to identify and prosecute financial crimes.
Collaboration Announcement
In a statement, the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI), with the support of the US Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) and the Embassy Nicosia, announced the establishment of direct cooperation with ROC law enforcement entities.
- Collaborative efforts to bolster Cypriot capabilities for financial crimes identification and prosecution
- DOJ and FBI sharing expertise and resources with Cypriot counterparts
- US investment in Cypriot capacity through expert prosecutorial assistance
MOU Signing
The FBI and the Cyprus police will sign a memorandum of understanding (MOU) in the coming days to formalize the collaboration. This collaboration will:
- Facilitate cooperation between the attorney general’s office and the finance intelligence unit (Mokas)
- Promote closer communication and information sharing
US Investment in Capacity Building
The DOJ plans to share its expertise with Cypriot counterparts in the proactive detection, investigation, and prosecution of financial crimes with links to Cyprus. The collaboration includes:
- Expert prosecutorial assistance
- Significant US investment
Close Cooperation between US and Cypriot Authorities
US Ambassador to Cyprus Julie Fisher expressed excitement about the close cooperation between the American and Cypriot justice systems. She stated, “Both sides look forward to the progress this collaboration will yield.”
Recent Sanctions on a Cypriot Company
On Monday, October 4, 2021, a Cyprus-based company, Tokentrust Holdings, was added to the Office of Foreign Assets Control (OFAC) list of designated entities for its ties to Russia’s financial sector.
- Cypriot registered Company on the OFAC list
- US appreciates cooperation with Cypriot authorities
- Tokentrust Holdings has been a Moscow-based fintech company since its founding on June 11, 2020
Journalist’s Coverage
This article was written by Nikolaos Prakas, a journalist with the Cyprus Mail since 2015. His areas of focus include politics, crime, and social issues.