{"id":9475,"date":"2024-04-24T17:01:27","date_gmt":"2024-04-24T14:01:27","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=9475"},"modified":"2024-04-24T17:01:27","modified_gmt":"2024-04-24T14:01:27","slug":"european-commission-rebukes-cyprus-over-money-laundering","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=9475","title":{"rendered":"European Commission rebukes Cyprus over money laundering"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/european-commission-rebukes-cyprus-over-money-laundering.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The EU Commission on Wednesday sent a reasoned opinion to Cyprus for failing to correctly incorporate EU legislation that <strong>covers money laundering and financial interests. <\/strong><br \/>\nAn announcement details that Cyprus, along with Greece, failed to correctly transpose the Directive on the fight against fraud to the EU\u2019s financial interests by means of criminal law.<br \/>\nThe rules behind the law increase the level of protection of the EU budget by harmonising the definitions, sanctions and limitation periods of criminal offences affecting the union\u2019s financial interest.<br \/>\nThey also lay out the foundation for the\u00a0European Public Prosecutor\u2019s Office (EPPO).<br \/>\nNonetheless, the commission said it first sent a letter of formal notice to Cyprus in February 2022. After analysing the replies, it concluded that Cyprus \u201c<strong>failed to fully transpose some provisions <\/strong>on the definition and the liability of legal persons\u201d.<br \/>\nAdditionally, Cyprus also failed to incorporate provisions on its jurisdiction \u201cover the offence of money laundering\u201d.<br \/>\nAs such, Cyprus and Greece have received a reasoned opinion to which they now have two months to respond.<br \/>\nA reasoned opinion is a formal request to comply with EU law. It explains why the commission considers that the country is breaching EU law. It also requests that the country inform the commission of the measures taken, within a specified period, usually two months.<br \/>\nIf the country still does not comply, the commission may decide to <strong>refer the matter to the EU Court of Justice. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fact: The EU Commission sent a reasoned opinion to Cyprus for failing to correctly incorporate EU legislation covering money laundering and financial interests.<\/p>\n","protected":false},"author":3,"featured_media":9476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[1766,932,3,379,1575,5602,7729,1841,2515,988,7730,1059,250,3330,747,1823,899,6389,582,5679,2685,5319,2628,1060,3331,5280,4593,634,4448,2871,331],"class_list":["post-9475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-budget","tag-court","tag-cyprus","tag-eu","tag-eu-court-of-justice","tag-eu-law","tag-eu-legislation","tag-european-commission","tag-february","tag-fight","tag-financial-interests","tag-fraud","tag-google","tag-google-news","tag-greece","tag-increase","tag-interest","tag-interests","tag-justice","tag-law","tag-legislation","tag-letter","tag-money","tag-money-laundering","tag-news","tag-offences","tag-office","tag-opinion","tag-protection","tag-request","tag-sanctions"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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