Deloitte To Evaluate Cyprus' Anti-Money Laundering Framework

Central bank of cyprus (Photo credit: Wikipedia)

Deloitte Financial Advisory was selected by the Central Bank of Cyprus (CBC), as the independent firm to evaluate the implementation of Cyprus' Anti Money Laundering framework, together with Moneyval of the Council of Europe.

Preliminary key findings are expected by April 20, while reports from Moneyval and the auditor will be delivered to the CBC, the Minister of Finance and the Troika by 24 April 2013. International lenders will then report to the Eurogroup on the level of implementation of preventive measures by financial institutions, based on the findings of Moneyval's and the auditor's reports.

According to a CBC announcement, on Friday, the selection was done with the agreement of the program partners (EC, ECB, IMF) and following the Eurogroup decisions taken in March 2013. (CNA)