Cyprus' progress in strengthening measures to tackle money laundering and terrorist financing

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English

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Cyprus has improved its measures for tackling money laundering and combating financing of terrorism. This follow-up report found Cyprus to have improved its compliance with the FATF Recommendations 15 (New technologies). It also noted progress towards improving its level of compliance with Recommendation 8 (non-profit organisations).

As a result of this progress:

Recommendation 15 has been upgraded from Partially Compliant to Largely Compliant.
Recommendation 8 remains Partly Compliant

Overall, Cyprus has made progress in addressing most of the technical compliance shortcomings identified in its 2019 Mutual Evaluation Report. Out of the 40 Recommendations, Cyprus currently has:

• 16 Recommendations rated Compliant
• 21 Recommendations rated Largely Compliant Recommendations rated Partially Compliant

MONEYVAL- Follow-up-Report Cyprus 2023

Filename: Cyprus_MONEYVAL_5thRound_3rdEnhFUR.pdf
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Download the follow-up report

Earlier Reports

1 Dec 2022

Cyprus' progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report sets out the progress that Cyprus has made in improving its level of compliance with the FATF standards, since their 2019 mutual evaluation.
13 Feb 2020

Cyprus's measures to combat money laundering and terrorist financing This report provides a summary of the AML/CFT measures in place in Cyprus as at the date of the on-site visit (13-24 May 2019). It analyses the level of effectiveness of the Cyprus's AML/CFT system and the level of compliance with the FATF 40 Recommendations, and provides recommendations on how the system could be strengthened.
27 Sep 2011

Mutual Evaluation Report of Cyprus Cyprus is a member of MONEYVAL, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Cyprus was conducted by MONEYVAL.

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The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

FATF Recommendations

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The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Mutual Evaluations Consolidated assessment ratings