According to a report in Cypriot news service Phileleftheros, Cyprus has been praised by British government officials for its good record in the fight against money laundering. Michael Carney, a member of the finance and taxation team of the Foreign Office’s Economic Policy Department, is reported to have said that Cyprus’s record with respect to money laundering activities has been scrutinised and the island has emerged "clean".
According to Mr Carney, the British team has based its findings on two reports, the first of which was undertaken by the Council of Europe in 1998 and the second by the Financial Action Task Force (FATF), which in June 2000 identified 15 countries deemed to facilitate the passage of "dirty" money. Cyprus did not make the FATF list and now Mr Carney has come out in open praise of the local authorities in Cyprus for their good work in the fight against this type of economic crime.
However, Mr Carney did say that it was normal for commercial centres to attract both clean and dubious money, and stressed it was important for Cyprus to remain on alert. He warned Cypriot officials against resting on their laurels and prompted them to continue their hard work.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment