In the northern region, a crackdown on counterfeit currency has led to arrests and seizures of fake dollars, highlighting the risks and law enforcement’s vigilance against illegal activities. Recent cases involving individuals attempting to introduce counterfeit money into circulation, particularly in casinos, emphasize the detrimental impact on the economy and the importance of maintaining trust in the financial system.
A team of experts from the FBI and FinCEN has been sent to Cyprus to assist with investigations into 29 cases of potential sanction violations, aiming to uncover financial crimes and ensure accountability for those aiding Russian oligarchs in evading sanctions. This collaboration highlights a concerted effort to maintain financial integrity and uphold international law, as the US and EU closely monitor Cyprus’s actions in the aftermath of sanctions.
US agencies, including the FBI and FinCEN, are intensifying financial crime investigations in Cyprus, targeting money laundering, corruption, sanction evasion, and the safeguarding of Russian wealth. The investigation focuses on financial structures used by Russian oligarchs, and law firms, accounting firms, and the banking sector are under scrutiny.
