exposure

Moneyval praises Cyprus progress on AML, crypto regulation

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Moneyval praises Cyprus progress on AML, crypto regulation

Cyprus has improved its measures for tackling money laundering and combating financing of terrorism, according to the latest Moneyval report. The Securities and Exchange Commission (CySEC) sees this as a ‘vote of confidence’ in financial regulation, especially for cryptos. The report found Cyprus to have improved its compliance with the Financial Action Task Force’s Recommendations, particularly in relation to Crypto-Asset Services Providers. Moneyval also noted progress towards improving compliance with non-profit organizations. Cyprus has made progress in addressing technical compliance shortcomings and is expected to report back to Moneyval in May 2025 on further progress. The country has achieved compliance or large compliance on 37 out of the 40 FATF Recommendations. CySEC has implemented significant measures to assess and reduce risks in the field of crypto-assets and improve compliance among providers. The publication of the report follows legislative changes to align AML/CFT laws with Moneyval and FATF standards.

Moneyval reports improvements in money laundering measures

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Moneyval reports improvements in money laundering measures

Cyprus has welcomed a Moneyval report that acknowledged improvements in tackling money laundering and terrorism financing, but also identified existing shortcomings.

Investors scour the globe for shelter as Wall Street shakes

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Investors scour the globe for shelter as Wall Street shakes

Global investors are looking at European and emerging market assets to protect themselves from turbulence in US stocks and bonds due to stubborn inflation.

Does Your State Have a Throwback or Throwout Rule?

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Does Your State Have a Throwback or Throwout Rule?

The text discusses state throwback and throwout rules, which are tax policies that can increase corporations’ tax liability and influence business decision-making. Throwback rules involve sales of tangible property being “thrown back” into the state where the sale originated, increasing the numerator of the apportionment formula and the tax liability for corporations. Meanwhile, throwout rules exclude certain sales from the denominator of the apportionment formula, also increasing tax liability. These rules can erode the competitiveness of states and incentivize businesses to relocate to avoid higher tax burdens.

Tales from the Coffeeshop: Auditor-general was on the verge of sainthood

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Tales from the Coffeeshop: Auditor-general was on the verge of sainthood

– The attorney-general filed a case at the supreme court for the auditor-general’s sacking on the grounds of inappropriate behavior.
– The auditor-general, Odysseas, is confident in his innocence and believes the truth will prevail.
– The president’s stance in the affair is compared to that of Caiaphas from religious knowledge.
– The former president is filing a libel suit seeking damages over corruption allegations.
– The plan to prevent organized crime did not have the desired results.
– An opinion poll showed the most popular Disy candidate for the European Parliament elections was Loucas Fourlas.

HB eyes insurance crown with CNP deal

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HB eyes insurance crown with CNP deal

Fact: Hellenic Bank’s takeover of CNP’s local operations in Cyprus is worth €182 million and will boost its market share to 30% in the life insurance sector and 23% in the general insurance sector.

Verbex Group Review: 5 trading tips for first-time Forex Traders [verbexg.com]

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Verbex Group Review: 5 trading tips for first-time Forex Traders [verbexg.com]

Forex trading is a large financial market with high profit potential and risks. Novice traders should learn the basics, plan their trades, use demo accounts, practice effective risk management, and be disciplined and patient to succeed in the forex market.

First Covid, now heat: online schooling returns to the Philippines

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First Covid, now heat: online schooling returns to the Philippines

Fact: Record heat in the Philippines this month has forced schools to send children home for online classes, reviving memories of Covid lockdowns and raising fears that more extreme weather in the years to come could deepen educational inequalities.

Over 5,000 work accidents, 30 deaths in three years

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Over 5,000 work accidents, 30 deaths in three years

Fact: Thirty people lost their lives on the job since 2021 and more than 4,000 were injured in the workplace in the same period.

All quiet at Saint Habakkuk Monastery

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All quiet at Saint Habakkuk Monastery

The scandal at Saint Habakkuk Monastery caused everyone involved to want a quick resolution before public exposure and possible sanctions. The monks were willing to apologize and disappear, the bishop wanted to avoid implication, and the archbishop hoped to avoid scandal before Easter. Despite real events like money found in the monastery and illegal activities, doubt now clouds the case as those involved have had time to regroup and create alternative scenarios. The public’s reaction has shifted from scandal to amusement, and a deafening silence now surrounds the situation.