Financial Crime Probes: US Experts Meet with Key Authorities in Cyprus, Spokesperson Confirms

Financial Crime Probes: US Experts Meet with Key Authorities in Cyprus, Spokesperson Confirms

New Sanctions Targeting Individuals Aiding the Russian Defence Industry

Experts from the United States have arrived in Cyprus to assist in investigations related to alleged financial crimes. Government Spokesperson Konstantinos Letymbiotis announced that these experts are now conducting meetings with all the relevant Cypriot authorities and bodies. The team comprises six experts.

In response to a media inquiry about the arrival of these experts, Letymbiotis confirmed their presence in Cyprus and mentioned that President Nikos Christodoulides had met with them upon their arrival. He emphasized that the experts' role is multifaceted: they are here to help conduct the investigations, share best practices from their extensive experience in financial crime probes, and suggest improvements in both the investigative procedures and methodologies.

When asked about the specific US agency these experts represent, Letymbiotis stated that he could not provide further details at that moment.

Addressing another query, he noted that the experts would remain in Cyprus for a few days and are expected to return later. Additionally, other specialists will be arriving to support the ongoing efforts.

US Imposes New Sanctions Involving Cyprus-Based Entities

Meanwhile, the US Department of Treasury’s Office of Foreign Assets Control has announced new sanctions targeting individuals aiding the Russian defence industry, with connections to Cyprus-based entities.

These sanctions involve three entities registered in Cyprus.

The US Treasury reports that these Cypriot entities are linked to a Belgian businessman accused of coordinating the procurement of electronics for military uses for Russian end-users, utilizing a network of companies spanning Belgium, Cyprus, and the Netherlands.

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