Energy Ministry welcomes amendment of the Anti-Money Laundering law
- DATE: Feb 22, 2021
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- CATEGORY: FINANCE
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- AUTHOR: OPulse Admin
Cyprus Ministry of Energy, Trade and Industry, in an announcement, welcomes the amendment of the law on Prevention and Suspension of Money Laundering from Illegal Activities.
On Thursday the Cyprus Parliament unanimously amended the Law on Preventing and Suspension Money Laundering, with the aim of harmonising national legislation with three EU directives and acts.
The Ministry points out that the new legislation harmonises and strengthens the existing framework for preventing and combating money laundering and terrorist financing.
It also notes that one of the main provisions of the Law has to do with the maintenance and operation of a Register of true beneficiary companies and other legal entities by the Registrar of Companies
Source: STOCKWATCH
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