Over the past two years, about 10 million euros have been confiscated in Cyprus as part of the fight against money laundering

The Anti-Money Laundering Unit (Mokas) in Cyprus has confiscated approximately 10 million euros over the past two years. Additionally, nine luxury cars, four real estate properties, and cryptocurrency assets have been seized.

These figures were published by the Legal Service of Parliament ahead of a meeting of the House of Representatives Ethics Committee, which focused on measures taken by government agencies to combat money laundering.

According to the provided data, Mokas requested and obtained freezing orders on assets in Cypriot courts in cases investigated by the police, as well as by foreign countries. These assets include cash amounts totaling 5,290,938 euros, 4,753,972 US dollars, and 15,413 British pounds, as well as nine vehicles, one real estate property, and 90,000 euros in cryptocurrency.

Local media reports indicate that arrest warrants have also been issued in Cyprus in cases where Mokas has assisted foreign prosecution authorities. These orders involve cash amounts totaling 1,883,090 euros and 180,657 US dollars, as well as one real estate property and the sale of two houses to settle confiscation orders.

According to current legislation, banks, investment firms, money transfer companies, casinos, as well as audit and legal firms are required to monitor, apply preventive measures, and report suspicious transactions to Mokas.

In cases where suspicious transactions are reported and subsequent financial analysis reveals evidence of criminal activity, the information is passed on to the police for criminal investigation.

From 2022 to February 2024, the Anti-Money Laundering Unit forwarded a total of 54 cases to the police to determine if criminal offenses occurred after analyzing suspicious transactions. These cases are related to potential violations of EU sanctions, potential money laundering, fraud, illegal drug trafficking, human trafficking, and terrorism.