Pavlos Neophytos
Director General of the Ministry of Finance, George Panteli, revealed to Parliament's Institutions Committee that between 2021 and March 2024, 1077 cash declarations, totaling 119 million euros, entered Cyprus via Larnaca and Paphos airports.
Panteli emphasized that within the last 15 months, 105 million euros spread across 825 declarations entered the country. Of these, 101 million euros from 436 declarations were forwarded to the police for investigation.
Committee Chair Dimitris Demetriou commented on the situation, noting a sense of reassurance amidst concerns over potential money laundering raised during prior committee sessions. However, Demetriou highlighted the ambiguity surrounding the destination of 92% of the funds.
Following Deputy Police Chief Demetriou's report of investigating 4 cases involving 10 million euros, Chairman Demetriou stated uncertainty about the funds' whereabouts. In response, the Ministry of Finance's Director General clarified that 96% of the money is under police scrutiny, refuting Demetriou's claim.
[This article was translated and edited for brevity and clarity]
