articles | 04 February 2015

CySEC’s new tool to avert money laundering

Technocrats of Cyprus’ Troika of international lenders and head of the Cyprus Securities and Exchange Commission Demetra Kalogirou recently discussed the supervision of companies providing administrative services.

Also under review came the application of a new supervision tool called ‘risk base’ to avert money laundering.

Talking to the press after the meeting, Kalogirou said the application of the new tool has begun, along with the collection of data from companies providing administrative services.

Kalogirou added that, so far, the Commission has carried out data analysis for 99 companies and the process will conclude by the month’s end.

Source: InCyprus

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