The EU on Monday (13 May) said many Cypriot banks do not know who their customers really are, but wired Nicosia €2 billion anyway.
Commenting on a recent study on money laundering in the Mediterranean island, eurozone finance ministers said in a joint communique that it must do better on "customer due diligence by banks" and must fix "the functioning of [its] company registry."
Dutch finance chief Jeroen Dijsselbloem, who chairs the ministers' meetings, added: "This report shows t...
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Already a member? Login hereAndrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.
Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.