The Central Bank of Cyprus said it has imposed a fine amounting to €790,000 to Bank of Cyprus, the island’s largest lender over failure to comply with the anti-money laundering law and the CBC directive.
The fine announced today concerns an audit conducted in 2018 and 2019.
“The CBC, on the basis of findings emanating from the examination conducted during 2018 and 2019, decided on 9 December 2021 to impose measures in the form of a fine on Bank of Cyprus Public Company Ltd, amounting to €790,000, for failure to comply with certain provisions of the Law and of the CBC Directive to Credit Institutions for the Prevention of Money Laundering and Terrorist Financing, December 2013 (Fourth Edition), as subsequently amended, during the period 2015 to 2019,” the CBC said.
Source: Cyprus News Agency