Money laundering

Within a short period after Nicosia's announcement of closer cooperation with the US on money laundering issues, the Cypriot Council of Ministers approved the signing of a memorandum of cooperation between the Cyprus Police and the FBI. 

The memorandum pertains to providing assistance in investigating cases of possible sanctions violations, money laundering, and corruption.

Following investigations by the Financial Crimes Investigation Board (MASAK), 92 billion Turkish Liras ($2.84 billion) in assets have been seized from social media influencers who were detained over allegations of money laundering and tax evasion, Interior Minister Ali Yerlikaya has said.

The United States and Cyprus said Tuesday they're formalizing their collaboration in fighting money laundering, sanctions evasion and other financial crimes with an agreement offering Cypriot law enforcement authorities US expertise.

BELGRADE - Serbian Finance Minister Sinisa Mali said on Monday a conclusion by the Council of Europe money laundering watchdog MONEYVAL that Serbia had made progress on development of an anti-money laundering and terror financing system confirmed the country was on the right track.

The conclusion is included in the latest MONEYVAL report, published earlier in the day.

Cyprus' Customs Department, along with the island's Unit for Combating Money Laundering (MOKAS) and the police, addressed the issue of money laundering controls in the Republic of Cyprus during a session held on Wednesday by the Parliamentary Institutions Committee.

Türkiye has successfully completed technical studies to be removed from the Financial Action Task Force's (FATF) gray list, Treasury and Finance Minister Mehmet Şimşek has said.

The process will be finalized with an on-site assessment to be conducted in June, the minister wrote on X, formerly Twitter.

The Finance Ministry and tax authorities are preparing to create a framework for the taxation of cryptocurrencies, with the establishment of the relevant committee being the first step. The difficulties mainly concern monitoring trade, as those who sell cryptocurrencies are unknown. At the moment the focus, until rules are put in place, is on the fight against money laundering.

Athens' prosecutors office has ordered an investigation into the founder of one of the country's best-known soup kitchens on charges that he embezzled and misused at least 600,000 euros in donations.

The Higher Education Council (YÖK) has collaborated with the Financial Crimes Investigation Board (MASAK) to inform students about the dangers they may face if their bank accounts are used for illegal purposes.

A Cypriot brokerage firm caught up in an investigation by French prosecutors probing financial transfers possibly tied to Yevgeny Prigozhin on Wednesday denied it had ever had direct relations with the late Wagner mercenary chief.