Featured Cyprus

NGOs: To Curb Money Laundering, Company Owners Should be Made Public

Civil society organizations urged the participants of a conference on combating money laundering to insist on the establishment of a public register that would show who owns which company in which country. Representatives from 205 countries and jurisdictions are meeting this week in Paris to discuss global action that can… Read More

Cyprus, Portugal among states rebuked by EU over delays in money-laundering reforms

The European Commission has sent legal warnings to Cyprus, Portugal, the Netherlands and five other EU states over their delays in applying new anti-money laundering rules adopted at European Union level two years ago. The 27 EU states were required to enact by January tighter rules to counter dirty-money risks… Read More

Cyprus ‘golden passports’ scheme a laundering risk: Moneyval

A European money laundering watchdog has cautioned that a secretive investment-for-passports program run by Cyprus was vulnerable to money laundering and fraught with risk. The Mediterranean island launched the scheme offering passports for an investment in 2013, with more than 3,000 people gaining citizenship through the program. A committee of… Read More
10th February 2020
An investigation has been opened targetting Belgian Prince Henri De Croÿ’s alleged tax evasion network, which he is accused of using to help funnel millions in funds into tax havens. Finance Minister Alexandre de Croo confirmed that the Special Tax Inspectorate (ISI) was building up files on taxpayers whose names… Read More
5th February 2020
European Union diplomats agreed to impose travel bans on two Turkish nationals and freeze their assets in retaliation for Ankara’s gas prospecting in disputed waters near Cyprus, two officials familiar with the matter said. The decision to target the two individuals was reached at a meeting of EU diplomats… Read More
4th February 2020
In the criminal case on laundering EUR 50 million in the to-be-liquidated ABLV Bank, a procedure has been launched also against the bank’s shareholder and former board chairman Ernests Bernis, according to Latvian public television’s morning news program De Facto. Bernis told law enforcement institutions that he knows nothing about… Read More
27th January 2020
Cypriot police are nearing the end of their probe into the allegedly fraudulent recapitalization of an insurance company that collapsed in 2018, leaving more than 200,000 drivers mainly in Bulgaria without coverage, and unpaid claims of 44.8 million euros. But an investigation by OCCRP and its Bulgarian member center, Bivol,… Read More
27th December 2019
Dyncorp International is a US military contractor which has been embroiled in controversies around the world, is controlled by a private equity firm and provides a range of military services including supplying mercenary forces. It established DynCorp Australia in 2004 and public contract data shows that its pickings from the… Read More
3rd December 2019
The European Commission has asked Malta to clarify how it intends to address Bank of Valletta’s shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called “golden passport” scheme. Malta, with a population of only 420,000, has sought to attract foreign capital with schemes… Read More
26th November 2019
Cyprus has no plans to stop selling Golden Visas to rich foreigners who invest in the country despite the government’s admission there were laws that let them acquire residency permits and European Union passports without being property vetted – leading to 26 being removed. Cypriot Interior Minister Constantinos Petrides said… Read More
22nd November 2019
Swedbank AB may have violated U.S. sanctions against Russia by facilitating the transfer of about 10 million Swedish kronor ($1 million) from gun maker Kalashnikov to a U.S. subsidiary in Florida, according to a report by Swedish state broadcaster SVT. After Russia annexed Crimea in 2014, the U.S. imposed sanctions… Read More
21st November 2019
When Lithuania’s AB Bankas Snoras imploded in 2011, its main shareholders, Vladimir Antonov and Raimondas Baranauskas, had already left for the United Kingdom, where Antonov had accomplished a long-held dream to take over the Portsmouth Football Club. On Nov. 24 of that year Antonov, a Russian, and Baranauskas, a Lithuanian,… Read More
21st November 2019
Russian oligarch Mikhail Abyzov built a complex network of offshore companies that were used to move a fortune out of Russia, according to a Swedbank internal draft report obtained by OCCRP and its Swedish partner, national public TV channel Sveriges Television (SVT). Today he’s charged with defrauding the Russian government… Read More