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Moneyval issued its fifth mutual evaluation report concerning Cyprus’ anti-money laundering outlining progress in the banking sector risk mitigation measures but stressing weaknesses and risks persist associated with Cyprus Investment Scheme as well as foreign corporations operating in Cyprus. The report states that Cyprus understands the money laundering/terrorist financing risks that it faces to a large extent, albeit understanding of terrorist financing risk is less comprehensive, noting that a number of measures have been deployed to mitigate some of the main …
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