TO ALL THE MEMBERS OF THE INSTITUTE
Subject: COVID-19-related Money Laundering and Terrorist Financing Risks and Policy Responses issued by the FATF
The Institute of Certified Public Accountants of Cyprus wishes with this circular to notify its Members of the paper on the risk and policy responses related to money laundering and terrorist financing issued by the FATF relating to the COVID-19 accessible by the link below:
COVID-19-related Money Laundering and Terrorist Financing
The paper aims to support professionals in identifying challenges, good practices and policy responses to new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 outbreak. This will enable professionals to assess the new/heighted risks and design effective measures to manage these risks.
ICPAC would also like to emphasise to its Members of the constant compliance obligations and remind them of the paper issued in March through General Circular 7_2020 in relation to the COVID-19 compliance measures and red flags. For access, please follow the link.