TO ALL THE MEMBERS OF THE INSTITUTE
(GC 23/2020)
The Institute of Certified Public Accountants of Cyprus wishes with this circular to notify its Members of the two papers issued by the FATF and Moneyval accessible by the links below:
- Virtual Assets Ref Flag Indicators of Money Laundering and Terrorist Financing,
- Money Laundering and Terrorist Financing Trends in Moneyval Jurisdictions during the COVID-19 crisis
The first guidance papers aims to assist professionals in identifying and reporting potential Money Laundering and Terrorist Financing activity involving Virtual Assets.
The second guidance paper, offers assistance to practitioners by providing insight on the threats and vulnerabilities in relation to the COVID-19 related crimes as well as best practices identified, with a view to assist the application of a more targeted and effective response to the emerging risks.