In the context of the implementation of pan-EU requirements including crypto-asset service providers (CASPs) under the Fifth Anti-Money Laundering Directive (5AMLD), Cyprus recently updated its definition of obliged entities under the Prevention and Suppression of Money Laundering Law 2007 (AML Law) to bring CASPs into its scope. Moreover, Cyprus authorities have also decided that Cyprus […]
European Banking Authority publishes final revised Guidelines on money laundering and terrorist financing risk factors.
On 1 March, the European Banking Authority (the ‘EBA’) published its final revised Guidelines on Money Laundering (ML) and Terrorist Financing (TF) risk factors. The revisions take into account changes to the EU Anti Money Laundering and Counter Terrorism Financing legal framework. New ML and TF risks are also addressed, including the ones identified by […]
The Cyprus Securities and Exchange Commission has issued a circular (C196 dated 31 March 2017) to entities it regulates reminding them of their obligations under article 68C of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, and emphasising that ignorance of the law is no defence. Article 68C of the […]