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Posts from the ‘Cyprus’ Category

6th order on temporary restrictive measures

The 6th order has been announced on today and most likely officially tomorrow and it shall be valid for a period of 7 days.
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Wishes for 2013

Wishing you a happy new year and all the best for 2013.

Harris Sharpe

Moody’s downgrades Cypriot bonds

Moody’s Investors Service downgraded Tuesday (13/03/2012) Cyprus’ government bond ratings by one notch to Ba1 from Baa3, assigning a negative outlook to the ratings, citing increased risk for the government to provide financial aid to Cypriot banks due to their exposure to Greek bonds and the Greek economy. Read more

Know-Your-Customer: the protagonist in the fight against money laundering in Cyprus

Money laundering, being the conversion of criminal proceeds into assets not being able to be traced back to the underlying laundering offence, is undoubtedly a scourge against the global financial system, sapping the legal order and institutions, corrupting the society and individuals and empowering the organized crime. It is absolutely impossible to estimate how much billions of dollars are laundered all over the world every year despite the unrelenting global efforts, and this fact alone indicates the magnitude of this phenomenon.

Cyprus has come a long way in cleaning up its act and enforce strict Anti-Money Laundering Regulations, enjoying the rewards of having an efficient domestic Financial Intelligence Unit, called “Mokas”. Read more

Preparations for second licensing round in Cyprus’ EEZ

The documents concerning the second licensing round in Cyprus’ Exclusive Economic Zone will be sent next Monday to the EU, in order to be translated for their publication in the EU’s Official Journal, Minister of Commerce, Industry and Tourism Praxoula Antoniadou said. Read more