According to a recent report published by the US State Department’s Anti-Money Laundering (AML) unit, Cyprus continues to upgrade its established AML legal framework, while authorities convicted 26 persons for money laundering offences in 2018.

The Republic of Cyprus continues to upgrade its established anti-money laundering legal framework, according to the US State Department’s Anti-Money Laundering (AML) report released this week.

The Cyprus maritime sector is taking all necessary measures to protect crews and passengers from coronavirus outbreak that is affecting international trade with public health a primary concern, as well as the wellbeing of shipping firms, said Deputy Shipping Minister Natasa Pilides.

Cyprus has carried out 49 Covid-19 tests to date and placed five people in quarantine while 400 others have placed themselves in isolation, it was announced on Wednesday.

Financial authorities are to issue a decree to scale back on excessive bank charges, Finance Minister Constantinos Petrides and Central Bank Governor Constantinos Herodotou jointly announced jointly on Wednesday following a meeting of the House ethics committee.

The construction and tourism sectors were the driving forces behind Cyprus’ economic growth in 2019, while the banking sector continued shrinking, according to official data.

The main authority on the subject of dishonest assistance is the case of Royal Brunei Airlines v Tan [1995] 2 AC 378 according to which a person who dishonestly procures or assists in a breach of trust or fiduciary obligation is liable in equity to make good for the resulting loss.

EY announces plans to be carbon neutral by the end of 2020, by both reducing and offsetting its carbon emissions. The commitment reflects the EY focus toward becoming a more sustainable organization by improving environmental performance and driving long-term, sustainable growth.

Tourism revenue slipped an annual 1% in 2019 despite a 1% increase in the number of visitors, reflecting a 2% drop in expenditure per person, according to figures issued by Cystat on Tuesday.

Cyprus in 2019 marked its fifth consecutive year of economic expansion since the 2013 financial crisis, with the Ministry of Finance noting that the Cypriot economy lies on “a solid base” but efforts should continue to shield the economy.