Transparency International (TI) is calling on the European Commission to “propose a roadmap” that will put an end to Golden Visa programs, which have high corruption and money laundering risks, according to TI.
The Council of Europe’s Group of Experts on Action against Trafficking in Human Beings published its third report on Cyprus, analyzing the jurisdiction’s policies on human trafficking.
European authorities have launched proceedings against Cyprus and Malta following the latest revelations of criminal abuse of citizenship-by-investment programs in the EU’s two southernmost jurisdictions, and opened an inquiry into Bulgaria, which offers a similar scheme.
Mexican FIU freezes hundreds of bank accounts, FinCEN details red flags of unemployment insurance fraud, and more, in the midweek roundup.
The Cyprus Securities and Exchange Commission issued a board decision reaching an agreement with IQ Option Europe Ltd, under which the company agreed to pay €450,000 to settle possible violations of the Prevention and Suppression of Money Laundering Activities Law.
The Central Bank of Cyprus issued a monetary penalty against the Limassol, Cyprus-based bank for violations of the Prevention and Suppression of Money Laundering Activities Laws of 2007 to 2016 and the Prevention of Money Laundering and Terrorist Financing Directive, December 2013.
|Compliant : 16||High : 0|
|Largely Compliant : 21||Substantial : 3|
|Partially Compliant : 3||Moderate : 8|
|Non-Compliant : 0||Low : 0|
|Rank : 88/141|
|Score : 4.81/10|
|Rank : 41/180|
|Score : 58/100|
|Rank : 27/133|
|Score : 61/100|