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

Cyprus and the US say they are redoubling their joint efforts to tackle illicit financing with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes

Nicosia, Cyprus — Cyprus and the US said on Monday they are redoubling their joint efforts to tackle illicit financing with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes.

An “ambitious” plan for the coming year includes 21 weeks of training for various Cypriot law enforcement agencies in financial investigation and forensic accounting techniques, as well as the use of technology in investigations, both locally and at the International Law Enforcement Academy (ILEA). ) in Budapest, Hungary, according to a joint statement.

The plan complements an initiative launched 20 months ago by the US Department of Justice and the FBI to strengthen Cyprus’ anti-financial crime capabilities following a promise of Cypriot President Nikos Christodoulides to clean up the island’s tarnished reputation as a center for money laundering and sanctions evasion.

The US government has provided “expert investigative and prosecutorial assistance,” significantly increasing Cyprus’ capacity to tackle complex financial crimes and counter money laundering.

An example of the US commitment to assist Cypriot law enforcement is the decision to bring US prosecutors to Cyprus to help authorities “prosecute criminals more effectively, especially in complex cases.

While the statement noted “significant progress” in combating financial crime, it did not specify whether such cases have been successfully prosecuted.

“The United States and the Republic of Cyprus have a shared vision of justice and are united in their commitment to enhancing cooperation on critical law enforcement issues,” the statement said.