Nicosia: The competent Cypriot and Greek authorities, the Unit for Combating Money Laundering and Financial Intelligence Unit of Cyprus (MOKAS) and Greece’s Financial Intelligence Unit (FIU), have signed a Memorandum of Understanding (MoU) to enhance cooperation in the fight against money laundering and terrorism financing. The agreement was formalized on Tuesday by Maria Kyrmizi-Antoniou, head of MOKAS, and Haralambos Vourliotis, President of FIU, as announced by the Law Office of the Republic of Cyprus.
According to Cyprus News Agency, the MoU marks the beginning of new collaborative opportunities between the two units. It includes joint strategic analyses of money laundering risks faced by both countries, exchange of best practices and expertise, and organized joint training sessions. The primary objective of the MoU is to intensify criminal proceedings related to money laundering and connected crimes, while also enhancing efforts to freeze or forfeit illegal income.
The press release emphasized the critical importance of cross-border cooperation, given that money laundering often involves cross-border elements. The MoU demonstrates the effective collaboration that MOKAS and FIU have developed in exchanging information, data, and financial analysis. This was highlighted by Attorney General George Savvides during a meeting with the FIU delegation, which is currently visiting Cyprus. The delegation is led by Vourliotis, Efstathios Tsirmbas, and Nicolaos Balaskas, who is responsible for international cooperation at FIU.