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In Cypriot AML Audits, Some See Model for Future Bailout Agreements
By Brian Monroe
printFollowing the decision to hinge a financial aid package for Cyprus on the findings of two audits, other jurisdictions seeking bailouts will likely have to prove their anti-money laundering bona fides. In April, Cypriot lawmakers approved the terms of a $10 billion EU bailout that will force the island-nation to close one of its banks and tax certain uninsured accountholders. It has already received one billion euros with an additional two billion euros to be given by the end of this month, according to the European Commission. Concerned that some of the money could benefit Russian mafia, the so-called "troika"...
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