28 February 2020
Moneyval published on 12 February 2020 Cyprus’ comprehensive assessment of the effectiveness of anti-money laundering and countering the financing of terrorism (AML/CFT) system and its level of compliance with the Recommendations of the Financial Action Task Force (FATF).Read More
We advise on compliance with anti-corruption laws, which is a keystone for doing effective business in Cyprus. With increasing business opportunities within the island and the expansion of regulatory framework against corruption, anti-corruption is no longer simply a matter of corporate social responsibility but a legal obligation. Our practice advises clients on their obligations, including recommending the implementation of preventative measures, such as rigorous compliance programs, manuals, training and internal audit mechanisms.
Further, our practice advises on compliance with anti-money laundering obligations, which is nowadays one of the greatest challenges for business operating in Cyprus. We undertake or advise on risk assessment, preparation and implementation of policies, controls and procedures, customer due diligence and identifying red flags, detecting and reporting suspicious activities and record keeping.