General Circular 13/2019 (GC_13/2019): Directive for the Prevention and Suppression of Money...

7/6/2019

TO ALL MEMBERS OF THE INSTITUTE

 

(GC_13/2019)

 

Date: 24 May 2019 – Updated 7 June 2019

 

Subject: Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing

 

The Institute of Certified Public Accountants of Cyprus, in its capacity as a competent authority pursuant to the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, as amended up and until 2018, (articles 59(1)(d) and 59(4)) (‘the Law’), wishes with this circular to present its Members with the updated Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing (‘the Directive’).

 

The Directive, follows General Circular GC_8/2018 issued on the 18th of May 2018 highlighting the main amended provisions of the Law that came into immediate effect with its enactment on 3rd of April 2018.

 

Amendments to the Law No. 81(I)/2019 enacted on the 31st of May 2019 have been incorporated in the Directive and an updated version is being circulated.

 

The changes to the Directive have an immediate effect and have to be adhered to by all Members and Licensed firms.

 

ICPAC may update the Directive from time to time.


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