Cyprus and the US double down on a joint effort to combat financial crimes with more training
Cyprus and the U.S. say they’re doubling down on a joint effort to crack down on illicit finance with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes
NICOSIA, Cyprus — Cyprus and the U.S. said Monday that they’re doubling down on a joint effort to crack down on illicit finance with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes.
An “ambitious” plan for the next year will involve 21 weeks of training for different Cypriot law enforcement agencies on financial investigative and forensic accounting techniques, as well as the use of technology in investigations, both locally and at the International Law Enforcement Academy (ILEA) in Budapest, Hungary, according to a joint statement.
The plan adds to an initiative launched 20 months ago by the U.S. Department of Justice and the FBI to boost Cyprus’ financial crime-fighting capabilities following a pledge by Cypriot President Nikos Christodoulides to clean up the island nation’s sullied reputation as a money laundering and sanctions evasion hub.
The U.S. government has provided “expert investigative and prosecutorial assistance significantly boosting” Cyprus’ capacity to handle complicated financial crimes and to counter money laundering.
An example of the U.S. commitment to help Cypriot law enforcement is the decision to bring U.S. prosecutors to Cyprus to help authorities “more effectively prosecute criminals, especially in complex cases.
Although the statement referred to “significant progress” in combating financial crime, it did not specify whether such cases have been successfully prosecuted.
“The United States and the Republic of
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