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31. Cyprus to launch 'National Sanctions Unit'

Cyprus is set to establish a new National Sanctions Implementation Unit (NSIU) in the coming year, aiming to improve how financial sanctions are enforced in the country....

32. Church and nightclub owners under investigation for embezzlement and money laundering

A significant investigation has been launched into allegations of embezzlement and money laundering involving two high-ranking officials from the Catholic Church of Greece and five nightclub owners in the Peloponnese region. ...

33. Cypriot citizens linked to $75 million money laundering probe in the French Riviera

French authorities have seized about $75 million worth of real estate and luxury cars in the French Riviera as part of a money-laundering investigation involving two Russian businessmen who hold Cypriot citizenship, according to a published report on the OCCRP.org website. ...

34. Spike in suspicious transactions as Cyprus freezes over €25 million in illicit assets

Reports of suspicious transactions in Cyprus have risen sharply in 2023, reaching levels similar to those in 2021, as per a story by Kathimerini's Dorita Yiannakou....

35. French Court clears Cyprus in $1.4 billion FBME Bank case

France’s highest court has brought an end to the $1.4 billion legal battle over the resolution of FBME Bank, ruling that the Central Bank of Cyprus (CBC) acted prudently and did not breach any obligations under a bilateral investment treaty between Cyprus and Lebanon....

36. Cyprus’ luxury resort tied to Russia’s $230M Magnitsky scandal

Cypriot police are close to completing an investigation into allegations connecting a luxury resort to one of Russia’s biggest financial scandals, the Magnitsky case, according to police officials....

37. US urges tighter oversight of Cypriot service providers to combat financial crime

Cypriot accountants and lawyers are under pressure from U.S. authorities to align with banking standards in combating financial crime. ...

38. Killer ''Hairdresser'' escapes in bold plan, police officers suspended

Police are in a state of high alert after convicted murderer Doros Theofanous, infamously known as "The Hairdresser," escaped from custody on Thursday, September 26. ...

39. Sweden to pay migrants up to $34,000 to return home

Sweden is making significant changes to its migrant policies, marking a ''paradigm shift'' aimed at reversing decades of leniency. ...

40. IRS experts aid Cyprus in combating money laundering

In October 1931, notorious American gangster Al Capone was sentenced to 11 years in prison on five counts of tax evasion by the federal justice system, marking a pivotal moment in organized crime history in the U.S....

41. US financial experts visit Cyprus to tackle money laundering

A delegation of financial experts from the U.S. Department of the Treasury’s Internal Revenue Service Criminal Investigation (IRS-CI) will visit Cyprus from September 15 to September 19, 2024, for high-level discussions on money laundering and financial crime....

42. Greek police disrupt €26 million VAT fraud scheme

The Financial Police Directorate has dismantled a criminal organization involved in elaborate VAT fraud schemes, leading to significant financial losses for the state....

43. Cypriot bank officials to present AML progress in U.S.

Top officials from four major Cypriot banks are headed to the U.S. on Sept. 16 to present updates on their progress in anti-money laundering (AML) efforts, sanctions enforcement, and foreign account management. ...

44. Limassol man duped out of €30,000 in cryptocurrency scam

45. EU Prosecutor probes Vasilikos LNG project for fraud

The European Public Prosecutor's Office (EPPO) has launched an investigation into the Vasilikos liquefied natural gas (LNG) import terminal project in Cyprus, amid suspicions of public procurement fraud, misappropriation of EU funds, and corruption. ...

46. Retired Cypriot police officer wanted in Metamax pyramid scheme

Authorities in Cyprus are actively seeking a 63-year-old Greek Cypriot resident of Limassol in connection with the Metamax pyramid scheme fraud, according to information obtained by our website. A warrant for his arrest has been issued....

47. Domestic violence cases on the rise in Cyprus

Reports of domestic violence in Cyprus have seen a significant rise, with incidents reaching alarming numbers, Justice and Public Order Minister Marios Hartsiotis told a parliamentary committee on Monday....

48. Boeing to plead guilty and pay $243.6M fine in 737 MAX settlement

Boeing has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department probe into its involvement in two fatal crashes of the 737 MAX aircraft that resulted in the deaths of 346 people in Indonesia and Ethiopia between 2018 and 2019....

49. Delving into the mind of an arsonist

Amid a summer plagued by arson-induced wildfires, authorities in Cyprus are grappling with understanding the motives behind these destructive acts and how to prevent them. ...

50. Suspect admits to murder in Ormideia

A 45-year-old Greek Cypriot man has been detained for eight days in connection with the murder of Charalambos Konstantinidis, 52, from Paralimni...

51. Archimandrite Nektarios arrested in Avvakoum Monastery probe

Police arrested 37-year-old Archimandrite Nektarios on Tuesday in connection with a financial scandal at the Holy Monastery of Saint Avvakoum in Fterikoudi....

52. Limassol man loses €46,900 in car sales scam

A 28-year-old man reported to Limassol Police Station that he was the victim of electronic fraud after transferring €46,900 to a bank account he believed belonged to a car sales company....

53. Laura Kovesi: ''There are no 'clean' countries in the EU

The head of the EPPO (European Public Prosecutor's Office) and the first EU Prosecutor General, Laura Kövesi, spoke with ''K'' during her visit to Cyprus for an event organized by the Department of Legal Science at the University of Cyprus....

54. Man arrested in Nicosia fraud case involving €175,060

Police are investigating a significant fraud case involving the withdrawal of €175,060. A 37-year-old man has been arrested in connection with the case and is currently detained under a court order....

55. Combatting money laundering: Insights from Katerina Sikioti Charalambaki

Money laundering poses a significant threat to the EU's economy and society, with organized crime generating revenues of at least €139 billion annually, as emphasized by Katerina Sikioti Charalambaki, a professor and lawyer at the High Court of Justice....

56. Government to appoint criminal investigators to tackle cold case (UPDATE)

The Cyprus Government will make a decisive move today in the long-standing case of Thanassis Nikolaos, President Nicos Christodoulides announced at the start of the Cabinet meeting on Wednesday....

57. AI-powered deepfake identity thefts surge 3,000%

Several months ago, a worker in Hong Kong unexpectedly conducted a transaction worth $25 million for her company, following instructions given......

58. Massive international fraud ring busted, Cyprus plays crucial role

Cyprus, along with international law enforcement agencies, cracked down on a massive fraud ring with a staggering €645 million turnover....

59. Cyprus urges EU support for Lebanon amid migration challenges

The Cypriot government is pleading with the European Union (EU) for financial support for Lebanon to bolster its border management efforts, according to a report by our Brussels correspondent, George Kakouris. ...

60. Authorities stumped on declared cash

The question of the whereabouts of over 90 million euros in cash allegedly spent by travelers arriving in Cyprus through Larnaca and Paphos airports in the last 15 months remains unanswered by competent state authorities....