Fact: The memorandum of cooperation between Cyprus’ police and the FBI will strengthen Cyprus’ law enforcement with expertise to combat money laundering and investigate cases involving financial crime.
Fact: President Nikos Christodoulides has taken action to combat money laundering in Cyprus by establishing a unified authority to oversee professional service providers and cooperating with US and British authorities for the effective enforcement of sanctions.
Cyprus and the US embassy in Nicosia are collaborating to combat money laundering and financial fraud. The US Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are working with Cypriot authorities to identify and prosecute financial crimes. The FBI and Cyprus police will sign a memorandum of understanding to formalize their cooperation. Additionally, a Cyprus-based company, Tokentrust Holdings, faced sanctions from the US for its connections to Russia’s financial sector.