CyprusThe Central Bank of Cyprus published its annual report for 2021, highlighting the work with other Cypriot competent authorities to harmonize the country’s anti-money laundering and counterterrorist financing framework in line with international standards.
The Cyprus Securities and Exchange Commission announced that the online platform for the Cyprus Beneficial Ownership Register of Express Trusts and Similar Legal Arrangements will become operational on May 17, 2022.
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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.
| Technical | Effectiveness |
|---|---|
| Compliant : 16 | High : 0 |
| Largely Compliant : 20 | Substantial : 3 |
| Partially Compliant : 4 | Moderate : 8 |
| Non-Compliant : 0 | Low : 0 |
Cyprus' technical compliance was re-rated in a Jan. 13, 2022 follow-up report.
| Rank : 44/110 |
| Score : 4.95/10 |
| Rank : 42/179 |
| Score : 57/100 |
| Rank : 27/133 |
| Score : 61/100 |