TO ALL THE MEMBERS OF THE INSTITUTE
(IC_24/2018)
Subject: Cyprus National Risk Assessment of Money Laundering and Terrorist Financing Risks
Please find herewith the announcement relating to the first National Risk Assessment of Money Laundering and Terrorist Financing Risks (NRA) undertaken by the Cypriot authorities in order to identify, assess and understand the country’s money laundering and terrorist financing threats and vulnerabilities.
It should be noted that the Report should be reviewed by all Members and the results should be incorporated as a criterion in the risk assessment process of each Firm.
It is further noted that the said Report is expected to constitute one of the reference documents for the forthcoming evaluation of Moneyval in May 2019. As part of the evaluation, Moneyval may opt to visit Firms in order to assess their understanding and application of the results of the Report.
Concise National Risk Assessment