Reports surfacing in Cyprus over the holiday period say that a US Administration report has described Cyprus as 'a centre of money laundering and gun trafficking'.
Cyprus Government spokesman Michalis Papapetrou dismissed the allegations, saying that the island had repeatedly passed inspections of its banking regime, but said that the government would not give its official response to the report after it had contacted the US government for a full explanation.
Central Bank Governor Afxentis Afxentiou said that he had been in contact with the American Embassy in Nicosia to find out about the contents of the supposed report - but the Embassy did not have any information either.
Just last week Tax-News.com reported that Cyprus is on the verge of agreeing measures to bring its taxation regime into line with OECD norms. It is many months, or even years, since the country has been the target of official money-laundering allegations, although in the early days of post-Soviet capital flight, Cyprus was an unwilling victim of money-laundering flows - and to this day a visitor to some parts of Limassol could be forgiven for wondering if they had strayed into the back streets of Moscow by mistake.
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