eu directive on financial fraud

Crackdown on Financial Fraud: The Metamax Pyramid Scheme Trial

The Metamax pyramid scheme trial in Cyprus is set to bring justice to investors defrauded of over €220,000. Two individuals face charges including fraud, operating a pyramid scheme, and money laundering, highlighting the need for stricter regulations against financial fraud.

eu directive on financial fraud incomplete transposition of eu law

European Commission’s Action Against Cyprus for Inadequate Anti-Money Laundering Measures

By Demis Papadopoulos

The European Commission has taken action against Cyprus for inadequate implementation of an EU antimoney laundering directive aimed at protecting the EU’s financial interests. Cyprus must respond to the reasoned opinion within two months to avoid further legal action, including potential fines or sanctions.