by Harris Sharpe | Sep 26, 2019 | Cyprus AML
On the 24th of September 2019 the U.S Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated four companies in accordance with Executive Order 13850 of November 1, 2018. The four companies operate in the oil sector of the... 
by Harris Sharpe | Sep 24, 2019 | Cyprus AML
EC Action Plan on AML On December 4, 2018, the Council of the European Union affirmed the EC Action Plan on AML. The non-legislative short-term measures concern, inter allies, the following: the identification of the circumstances that contributed to the current money... 
by Harris Sharpe | Sep 23, 2019 | Cyprus AML
EU AML Infrastructure to fight and prevent ML/TF In the diagram below we can see the EU AML infrastructure. Although the European Banking Authority is responsible to set guidelines, the European Commission is the one setting the policies. A recent example is the new... 
by Harris Sharpe | Sep 11, 2019 | Cyprus AML
This publication is made subject to the disclaimer The Cyprus Securities and Exchange Commission recently issued Circulars C-337 reminding regulated entities of the existence of the Specially Designated Nationals List (“SDN List”) of the Office of Foreign... 
by Harris Sharpe | Sep 10, 2019 | Cyprus AML
In an attempt to enhance the credibility and reliability of the Cyprus Investment Programme, the Cabinet of Ministers issued a prohibited persons list to which the Cyprus Investment Programme will be restricted. This article analyses the cabinet of ministers decision... 
by Harris Sharpe | Sep 4, 2019 | Cyprus AML
The Council of the European Union on the 27th of June 2019, adopted Council Decision (CFSP) 2019/1108 , extending the Russian sanctions regime until 31 January 2020. The Russian sanctions, are in place since 31 July 2014 and have repeatedly been extended targeting...