Description

This report reviews the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations on Anti-Money Laundering and Combating the Financing of Terrorism for Cyprus. The report highlights that the Cypriot authorities have demonstrated resolve to reduce the vulnerability of financial institutions and designated non-financial businesses and professions to money laundering. The Cyprus FIU (MOKAS) and the Central Bank of Cyprus have been particularly active in this respect. Since the Second Round Evaluation, both authorities were reinforced and are now adequately staffed.

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Taxonomy

Anti-money laundering , Banks and banking , Central banks , Financial institutions and markets , International financial system

More publications in this series: IMF Staff Country Reports