MONEYVAL: Follow Up on Cyprus – June 2025

23/06/2025
Posted by: Pambos Kyriacou

MONEYVAL, the Council of Europe’s FATF-style regional body, has published its 4th Enhanced Follow-Up Report on Cyprus’ framework to combat money laundering and terrorist financing.

The report confirms that Cyprus has further strengthened its AML/CFT system, notably in the area of correspondent banking. Based on this progress, the rating for FATF Recommendation 13 has been upgraded to “largely compliant”.

Additionally, Cyprus reported improvements regarding Recommendation 8 on non-profit organisations. However, since moderate deficiencies remain, the rating continues to be “partially compliant.”

Summary of Current Ratings (out of 40 FATF Recommendations):

Compliant: 16
Largely Compliant: 22
Partially Compliant: 2
Non-Compliant: 0

Moneyval’s Follow-Up Report here

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MONEYVAL: Follow Up on Cyprus – June 2025

MONEYVAL: Follow Up on Cyprus – June 2025

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