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Cyprus and the US double down on a joint effort to combat financial crimes with more training

^{Published on 2024-12-09 10:01:06 - The Hill}
 

• Cyprus and the U.S. said Monday that they're doubling down on a joint effort to crack down on illicit finance with additional training of Cypriot law enforcement authorities

The article from The Hill discusses the enhanced cooperation between Cyprus and the United States to combat financial crimes, focusing on increasing training efforts. Cyprus, aiming to shed its past reputation as a haven for illicit financial activities, has partnered with the U.S. to strengthen its anti-money laundering and counter-terrorism financing frameworks. This collaboration includes specialized training sessions for Cypriot officials, facilitated by U.S. experts, to improve detection and prevention of financial crimes. The initiative is part of a broader effort to ensure Cyprus meets international standards set by bodies like the Financial Action Task Force (FATF). The training programs cover areas such as risk assessment, compliance, and the use of advanced technology in tracking financial transactions. This partnership not only aims to clean up Cyprus's financial sector but also to foster a more transparent and secure global financial environment.

Read the Full The Hill Article at:
[ https://thehill.com/homenews/ap/ap-business/ap-cyprus-and-the-us-double-down-on-a-joint-effort-to-combat-financial-crimes-with-more-training/ ]

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