The Cyprus government has underlined its unwavering commitment to the continuous compliance of the Republic of Cyprus with international standards and to take the necessary measures, as required, to combat money laundering and the financing of terrorism, the Presidency of the Republic said in a press release on Thursday, expressing the government's satisfaction with the Progress Report issued by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval) of the Council of Europe regarding Cyprus. The Report documents the significant progress, improvement and compliance of the Republic of Cyprus with the Moneyval's recommendations on addressing money laundering and combating the financing of terrorism. It is noted that it is particularly significant that Moneyval reports that the Republic of Cyprus has met the general expectation and has has corrected and complied with the vast majority of international standards for combating money laundering and il licit terrorist financing within 2023. "The government underlines its unwavering commitment to the continued compliance of the Republic of Cyprus with international standards and for taking the necessary measures when this is required to ensure that our country meets all international standards regarding the fight against money laundering, as well as against the financing of terrorism," the press release concluded. Moreover, the Finance Ministry welcomed, in a press release, the report and affirmed the government's commitment to continue the efforts "to minimize the risks and to tackle the phenomenon of illicit financing.' The Ministry also thanked Cyprus' Financial Intelligence Unit (MOKAS) which heads Cyprus' delegation in Moneyval, as well as the other supervisory authorities, the Police and the Ministry of the Interior for their successful efforts to combat illicit financing, as manifested in the report. Source: Cyprus News Agency