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Cyprus and US sign Memorandum on combating money laundering
2005-03-31 13:51:58

Nicosia, Mar 31 (CNA) -- Cyprus Unit for Combating Money Laundering (MOKAS) and the US Department of the Treasury Financial Crimes Enforcement Network (FinCEN) have signed a Memorandum of Understanding.

A MOKAS press release said the Memorandum was signed in the framework of international cooperation on issues concerning money laundering and combating financing of terrorism, to finalize the already existing close cooperation between the two units.

The US Embassy in Nicosia has welcomed the conclusion of the Memorandum of Understanding noting that it ''facilitates the exchange of information relating to money laundering and terrorism finance and formalizes the already excellent cooperation between FinCEN and MOKAS.''

A press release issued by the Embassy said ''Cyprus is an important partner in the global war on terrorism, and the United States and the Government of Cyprus enjoy close cooperation on money laundering and terrorism finance issues.''

''Money laundering and terrorist finance are global issues that affect us all and require a global response. The Embassy welcomes the Memorandum of Understanding as another step forward in our joint effort to combat money laundering and to deny terrorists access to the international financial system,'' the press release concluded.

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