russian oligarchs

Council of Ministers Revokes Citizenship from Russian Oligarchs

The Cypriot government revoked citizenship from two Russian oligarchs in the “golden passport” program due to blacklisting and security concerns, amidst calls for stricter regulations. These moves reflect growing scrutiny over citizenshipbyinvestment schemes to prevent misuse and ensure transparency in such programs.

US Agencies Intensify Financial Crime Investigations in Cyprus

By Demis Papadopoulos

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.