CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. UK Government Praises Cyprus' Anti-Money Laundering Systems

UK Government Praises Cyprus' Anti-Money Laundering Systems

Lisa Ugur, Tax-news.com, London

07 December 2000


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.

.

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »