Featured Cyprus

JPMorgan Hacker Will Plead Guilty Over Role in Vast Cyber-Attack

A Russian hacker at the center of an alleged scheme to steal financial data on more than 80 million JP Morgan Chase & Co. clients will plead guilty later this month, according to a U.S. court filing. Andrei Tyurin, who was extradited last year from the Republic of Georgia, is… Read More

Iran oil tanker pursued by US turns off tracker near Syria

AP — An Iranian oil tanker blacklisted and pursued by the U.S. turned off its tracking beacon off the coast of Syria, leading to renewed speculation Tuesday that its oil will end up there, despite earlier assurances it wouldn’t. The disappearance of the Adrian Darya 1, formerly known as the… Read More

US official: Cyprus on right track in money laundering fight

AP — A U.S. congresswoman says Cyprus is making headway in dispelling the notion that the east Mediterranean island nation’s banks have acted as a laundry service for Russian oligarchs. Rep. Maxine Waters, who chairs the House Financial Services Committee, says that US-Cyprus cooperation in tackling money laundering “is beginning… Read More
16th August 2019
As president of Cyprus, Nicos Anastasiades has worked to strengthen his country’s relationship with Russia while dealing with international criticism of its lax financial and money laundering controls. But several years before his 2013 election, a law firm he established and co-owned, and in which he was a partner at… Read More
29th July 2019
Digital currency exchange BTC-e and one of its owners, a Russian whose extradition the U.S. is seeking from Greece to face criminal charges, now face a civil lawsuit in California. The U.S. is attempting to recover penalties of $100 million from the company and Alexander Vinnik for alleged violations of… Read More
22nd April 2019
Ukraine’s top prosecutor has formally summoned several allies of the nation’s outgoing President Petro Poroshenko over allegations of embezzlement and money laundering, the Kyiv Post reported Monday. The five suspects include Valeria Gontareva, the former head of the National Bank of Ukraine, and Kostyantyn Stesenko, an executive with the investment bank… Read More
22nd April 2019
AP — A senior U.S. Treasury Department official says Cyprus has done “outstanding” work to curtail money laundering. Treasury Department Assistant Secretary Marshall Billingslea says Cyprus has made “enormous progress and improvements” in its legal framework as well as in law enforcement. Billingslea said after talks with Cyprus Finance Minister… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
14th February 2019
AP — Cyprus has strengthened the eligibility rules for a lucrative “golden passport” program that grants the document to wealthy foreign investors, ruling out applicants who already were turned down by another European Union country with a similar policy, a government official said Wednesday. The EU… Read More
7th February 2019
Estonia’s push to become a digital society has left it vulnerable to dirty money and sanction breaches, the country’s top banking regulator has warned. The Baltic state took centre stage in one of the largest-ever money laundering scandals last year – the Estonian branch of Danske Bank helped funnel money… Read More
27th April 2018
PrivatBank in Ukraine has filed a lawsuit against PricewaterhouseCoopers (PwC) in Cyprus and Ukraine, seeking $3 billion in compensation for damages it says it suffered as a result of the auditor’s ‘extensive breaches of duties,’ including failure to identify fraud. The legal action pertains to PwC’s auditing of PrivatBank’s… Read More
21st March 2018
A Russian whistleblower linked to the murdered Maltese anti-corruption blogger Daphne Caruana Galizia has handed herself in to Greek police. Former bank employee Maria Efimova left Malta for Greece last August and is now at an Athens police station. Caruana Galizia named her as a source when she alleged that… Read More
27th December 2017
Special Counsel Robert Mueller’s investigation into links between US President Donald Trump’s campaign and Russian influence has led the FBI to probe a closed Cypriot bank used by wealthy Russians and accused by the US of money laundering. That was the claim made by the British newspaper The Guardian which… Read More