CYPRUS SEEKS TO SHED REPUTATION AS SUNNY HOME FOR RUSSIAN DIRTY MONEY
April 11th, 2023
Russia’s invasion of Ukraine has given the Cypriot government an additional incentive to remedy its past reputation as a haven for Russian money of questionable provenance. As the war launched by President Vladimir Putin has as of March 27 caused 8,401 civilian casualties, according to UN figures, the internationally recognised government of Cyprus, which still controls just the southern two-thirds of its island (the north being run by the breakaway Turkish Republic of Northern Cyprus), has launched some significant AML/CFT reforms.
Central Bank of Cyprus ...
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