Καλώς τα παιδιά: Ειδικοί του ΔΝΤ επεμβαίνουν για την πιθανή διακίνηση μαύρου χρήματος στην Κύπρο. Θα μπείτε στο μνημόνιο ρε;

EXPERTS from the International Monetary Fund (IMF) arrived here yesterday at the invitation of local law enforcement authorities for an update on Cyprus’ compliance with anti-money laundering standards.Speaking to reporters, Eva Papakyriacou, head of the unit for combating money laundering, MOKAS, said the IMF team was not conducting an investigation per se.She said it was MOKAS who took the initiative to invite the foreign experts here for an on-site visit, in order to provide the IMF with an update on how Cyprus’ anti-money laundering legislation complies with international standards.Usually, requests for information by the IMF are handled via email and teleconferencing, said Papakyriacou:
“However, in order that no loose ends remain, we proposed the [IMF] team to visit Cyprus and receive clarifications in a transparent manner, so that they can have a fuller picture.”
The IMF experts leave today. During their stay they will be meeting with MOKAS, as well as with finance ministry officials and the bar association.The issue of regulation was highlighted by the recent public debate in the press regarding bank confidentiality, following reports that Cyprus was providing Russian authorities with bank information ostensibly without going through the proper channels.
A section of the local media suggested that this jeopardised Cyprus’ credibility and the confidentiality on which the banking system is based.
Shortly after, MOKAS responded with a statement noting that there was “no issue of discrediting Cyprus’ financial sector since, as a lawful state, we ought to cooperate with foreign authorities in the cases where it is justified.”
There would be an issue if Cyprus did not cooperate because it “would be presented as a country that covers illegal activities,” MOKAS had said.
Russian authorities had requested Cyprus’ assistance in investigating the alleged embezzlement of millions by former officials of the Bank of Moscow, and its transfer to the bank accounts of companies registered on the island.
Details of the accounts were obtained after the authorities secured a court order.
Russia’s request was handled by the book, going through the justice ministry and the attorney-general who then submitted an application at the Nicosia district court.
MOKAS comes under the attorney-general’s office.Cyprus has laws which protect the right to privacy, but allow that privacy to be breached in the event of legitimate suspicion of wrongdoing. Under the Assessment and Collection of Taxes Law information may be disclosed to an overseas authority only if a series of strict requirements are met.
Last December the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) issued a report on measures to combat money laundering and terrorist financing in Cyprus, following an on-site visit the previous year (June 2010).MONEYVAL found that Cyprus had taken addi