In June 2018 the Central Bank of Cyprus (CBC) sent a circular to Cyprus' banks to improve due diligence on so-called shell companies, as part of Cyprus' campaign to improve its image for countering money laundering and combatting the financing of terrorism (otherwise known as AML/CFT).
Cyprus had undertaken to the EU, as a condition of its financial bailout in 2013, to eliminate its status as a haven for money laundering and tax avoidance.
Little was done at a practical level eit...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.