Cabinet approves signing of Cooperation Memorandum between Cyprus Police-FBI

The Cabinet has approved the signing of a Memorandum of Cooperation between the Cyprus Police and the Federal Bureau of Investigation of the USA (FBI), the Justice Ministry, announced, describing it as an “important development” in further strengthening the Cypriot prosecution authorities with the necessary expertise to combat money laundering.

The Ministry said in an announcement, that the Council of Ministers on 3 April approved the signing of a Memorandum of Cooperation between the Cyprus Police and the FBI, for assistance in the investigation of possible sanctions violations, money laundering and corruption. With this approval, according to the Ministry, a closer cooperation between the two countries is established as regards the effort to combat money laundering and the effective investigation of cases involving financial crimes and, by extension, the prosecution of those involved.

The signing of the Memorandum, it adds, “reflects the efforts of the Government and above all, the will and determination of the President of the Republic himself”, for further strengthening the capabilities of the country's prosecuting authorities to deal with illegal financial activities and to identify and prosecute economic crime.

It notes that the purpose of the Memorandum of Cooperation is to strengthen the cooperation of the prosecuting authorities of the two countries in the areas of information and knowledge exchange regarding research methodology, tactics and techniques related to financial investigations, while ensuring the basic principle of confidentiality of this information.

The signing of the Memorandum, the Ministry said, was, on the one hand, “an important development” as regards further strengthening bilateral relations between Cyprus and the United States of America and, on the other hand, as regards further strengthening the Cypriot prosecuting authorities with the necessary expertise and technical know-how, so that they are proactively able to identify, investigate and prosecute cases involving financial crimes related to Cyprus.

(Source: CNA)