US Experts Arrive in Cyprus to Assist Financial Crime Investigations
President Christodoulides Meets with Team
According to Government Spokesperson Konstantinos Letymbiotis, experts from the US have arrived in Cyprus to assist investigations into alleged financial crimes. The team met with President Nikos Christodoulides shortly after their arrival on the island.
Mission Objectives
The mission of the US team is to help in the investigation process by:
- Exchanging best practices based on their experience in investigating financial crimes
- Identifying areas for improvement in procedures or ways these crimes are investigated
Background
President Christodoulides called in the experts following the release of the International Consortium of Investigative Journalists’ “Cyprus Confidential” report last month, which included allegations that Cyprus-based firms helped sanctioned Russians move assets.
US Team’s Expertise
The US team’s expertise in dealing with financial crimes will aid local authorities in properly investigating claims made in the report. Their presence is expected to enhance the investigation process and help uncover any potential wrongdoing.
Next Steps
The US experts will be staying for a few days before returning later, with another team of experts joining them during their second visit.
International Campaign
President Christodoulides has also announced the launch of an international campaign to fully communicate the significant strides Cyprus has taken regarding AML/CTF regulation. This move aims to demonstrate the country’s commitment to combating financial crimes and ensuring transparency in its financial systems.
Key Points
- Experts from the US have arrived in Cyprus to assist investigations into alleged financial crimes
- The team is working with local authorities to exchange best practices and identify areas for improvement
- President Christodoulides called in the experts following the release of the “Cyprus Confidential” report
- The US team’s expertise will aid local authorities in properly investigating claims made in the report
- An international campaign has been launched to communicate Cyprus’ strides in AML/CTF regulation