MONEYVAL: Cyprus has enhanced its AML/CTF Framework

15:12 - 18 June 2025

Economy

Cyprus has further reinforced its system for preventing money laundering and combating terrorist financing, according to the follow-up report published on Wednesday by MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism.

The report concluded that Cyprus has made progress to address technical compliance deficiencies related to correspondent banking under the Financial Action Task Force (FATF) standards. As a result, the rating for Recommendation 13 has been upgraded to “Largely Compliant”. Cyprus also has reported progress on the Recommendation 8 (non-profit organizations), however, as moderate deficiencies persist, the rating remains “Partially Compliant”.

Overall, out of the 40 recommendations, Cyprus is currently rated as Compliant on 16 recommendations, as Largely Compliant on 22 recommendations and as Partially Compliant on two recommendations. None of the FATF recommendations are assessed as non-compliant.

Cyprus will remain under MONEYVAL’s enhanced follow-up procedure and is expected to report back within two years on further progress made in strengthening its anti-money laundering and counter-terrorist financing (AML/CFT) system.

Access the MONEYVAL’s full report here

MONEYVAL: Cyprus has enhanced its AML/CTF Framework

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