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BREAKING: Cyprus in fresh setback as MONEYVAL says island still not up to FATF standards and downgraded to only ‘partially compliant’on VASPs policy

By Elizabeth Hearst for AMLi

The Council of Europe’s Anti-Money Laundering Body, MONEYVAL has indicated “shortcomings have still to be addressed” in Cyprus, despite making “some progress” in improving its compliance with FATF standards. 

Despite this progress, MONEYVAL said Cypriot authorities “took some of the measures improving the level of compliance too late” for assessment. 

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