United States and Cyprus Collaboration on Fighting Financial Crimes
The United States and Cyprus are formalizing their collaboration in fighting money laundering, sanctions evasion, and other financial crimes with an agreement offering Cypriot law enforcement authorities U.S. expertise.
Key Points
- Agreement between FBI, Cypriot police, and U.S. Department of Justice
- Focus on detecting, investigating, and prosecuting financial crimes in Cyprus
- Assistance requested by Cypriot President Nikos Christodoulides for investigating allegations
Pros
- Formalizing collaboration between the United States and Cyprus to fight financial crimes
- U.S. offering expertise to Cypriot law enforcement authorities
Cons
- Allegations that Cypriot financial service providers helped Russian oligarchs skirt international sanctions