Cyprus 'golden passports' scheme a laundering risk, says watchdog

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Cyprus 'golden passports' scheme a laundering...
 © KNEWS 2020
A European money laundering watchdog has cautioned that a secretive investment-for-passports programme run by Cyprus was vulnerable to money laundering and fraught with risk.

Responding to the report’s conclusions, Finance Minister Constantinos Petrides said the island is committed to following through with the report’s recommendations.

The Mediterranean island launched the scheme offering passports for an investment in 2013, with more than 3,000 people gaining citizenship through the programme.

A committee of experts from the Council of...


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This article was automatically added to our system 12-2-2020

Cyprus 'golden passports' scheme a laundering risk, says watchdog


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Article Tags: cyprus, golden, passports, scheme, laundering, watchdog,