On the 21st of June 2022 the CYSEC announced the translation o the Cyprus AML Law in English.
The prevention and suppression of money laundering and terrorist financing law 2007 – 2021 forms the backbone of combating money laundering and terrorist financing for Cyprus.
The unofficial consolidation of laws from 2007 until 2021 include the latest significant amendment which was the Cyprus Beneficial Owner Register and the provisions resulting from the Cyprus national implementation of the 5th AML Directive.
For Cypriot practitioners and Compliance officers this is a welcome addition since the majority of business and operations are run using the English language rather than the Greek. Accordingly having an unofficial translation makes operations a lot more practical.
