Apostolis Tomaras
Within a short period after Nicosia's announcement of closer cooperation with the US on money laundering issues, the Council of Ministers approved the signing of a memorandum of cooperation between the Cyprus Police and the FBI. The memorandum pertains to providing assistance in investigating cases of possible sanctions violations, money laundering, and corruption.
The Council of Ministers' decision establishes closer cooperation between the two countries in an effort to combat money laundering and effectively investigate cases involving financial offenses, thereby facilitating the prosecution of those involved.
According to the announcement, the conclusion of the memorandum "reflects the government's efforts, particularly the determination of the President of the Republic himself, to further strengthen the capacity of the country's law enforcement authorities to address illegal financial activities and to detect and prosecute financial crimes."
The memorandum will enhance cooperation between Cyprus and US law enforcement authorities, focusing on the exchange of information and knowledge concerning investigative methodology, tactics, and techniques related to financial investigations, while upholding the fundamental principle of confidentiality of such information.
The signing of the memorandum represents both an important development in strengthening bilateral relations between Cyprus and the United States of America and a means of bolstering Cypriot law enforcement authorities with the necessary expertise and know-how to proactively identify, investigate, and prosecute cases involving financial crimes in Cyprus.
[This article was translated from its Greek original and edited for clarity]
