Title: US and Cyprus Bolster Cooperation to Combat International Financial Crimes

Cyprus and the US Strengthen Ties against Money Laundering and Corruption

In a significant move, Cyprus, following its announcement to intensify collaboration with the United States on money laundering matters, has endorsed the signing of a memorandum of cooperation (MOC) between the Cyprus Police and the Federal Bureau of Investigation (FBI).

Council of Ministers Statement: A testament to our determination to bolster Cyprus’ capabilities to address financial crimes head-on.

Key Provisions of the MOC

The recently approved MOC outlines a mutual understanding for offering assistance in investigations pertaining to potential violations of:

Sanctions
Money laundering
Corruption

In strengthening ties, both Cyprus and the US aim to:

Intensify efforts in rooting out illicit financial activities
Effectively pursue prosecutions

Cooperation and Confidentiality

The signed agreement will fortify cooperation between Cyprus and the US in the realm of financial investigations:

Sharing of information
Investigative strategies
Techniques

Confidentiality of the information exchanged will be protected.

Future Collaborative Arrangements

The MOC is anticipated to pave the way for more comprehensive collaborative arrangements between the two countries:

Reducing the scale of international financial crimes
Ensuring greater financial security and transparency for all concerned.