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Cyprus News Agency: News in English, 13-01-11
CONTENTS
[01] Cyprus compares favorably with Eurozone members on combating money
laundering
[01] Cyprus compares favorably with Eurozone members on combating money
laundering
Cyprus is compared favorably with other Eurozone members in relation
to the measures taken to combat money laundering, Eva Papakyriakou,
Head of the Unit for Combating Money Laundering (MOKAS) said to the
Ambassadors of the EU member states in Cyprus.
Papakyriakou participated on Thursday in a meeting between Finance
Minister Vasos Shiarly and the Ambassadors of the EU member states
in Cyprus. The Ambassadors were briefed on the measures taken and the
procedures followed by the Republic of Cyprus to combat money laundering.
Speaking to CNA, Papakyriakou said that during the meeting she presented
table showing the latest results of the evaluation reports of Eurozone
countries that concern their compliance against the 49 recommendations
of the FATF (Financial Action Task Force on Money Laundering on combating
money laundering and terrorist financing).
According to the table, Cyprus complies with the 49 recommendations of
the Financial Action Task Force, unlike some other Eurozone countries
such as Finland, Germany, Greece, Ireland, Italy and Luxembourg, which
fail to comply with all recommendations.
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