Financial Crime World

US Embassy and Cyprus National Police to Collaborate on Financial Crime Detection

The US Embassy in Cyprus announced a new cooperative effort between the US Department of Justice (DOJ) and the Republic of Cyprus (ROC) to enhance the island nation’s capabilities in detecting and prosecuting financial crimes.

Collaboration between US and Cypriot Law Enforcement

Following a request from Cyprus President Nicos Christodoulides, the DOJ, FBI, and other US agencies have established direct cooperation with the Cyprus National Police (CNP) and other key law enforcement partners:

  1. The Law Office of the Republic (LOR)
  2. The Finance Intelligence Unit (MOKAS)

Memorandum of Understanding (MoU) between FBI and CNP

This collaboration will culminate in a Memorandum of Understanding (MoU) between the FBI and CNP, to be signed in the coming days. The agreement will formalize the partnership between the two justice systems.

Expert Assistance from the US

  • The DOJ has pledged to share its expertise with Cypriot counterparts.
  • In 2024, the US will provide proactive training and assistance to help identify, investigate, and prosecute cases involving financial crimes with ties to Cyprus.
  • Expert prosecutorial assistance from the United States represents a significant investment in Cypriot capacity to combat illicit financing and strengthen future prosecutions and the integrity of the Cypriot legal system and economy.

US Department of Justice Entities Involved

The US Department of Justice, through entities such as:

  1. Overseas Prosecutorial Development, Assistance and Training (OPDAT)
  2. Task Force KleptoCapture
  3. The Money Laundering and Asset Recovery Section (MLARS)

worked with the INL and Embassy Nicosia to respond to President Christodoulides’ request.

Optimism for the Collaboration

President Christodoulides welcomed the closer partnership between the American and Cypriot justice systems and expressed optimism for the progress this collaboration will yield in the fight against financial crimes. The US Embassy echoed his sentiment, stating that “both sides look forward to the progress this collaboration will yield.”