MONEYVAL will participate in an independent evaluation of the implementation of the anti-money laundering framework in Cypriot financial institutions, alongside a private international audit firm.
MONEYVAL has responded positively to the invitation of the Chairman of the Eurogroup Working Group (on behalf of the Troika institutions) to undertake an evaluation of Customer Due Diligence (CDD) measures in the Cypriot banking sector to assist the decision-making process on Cyprus's request for financial assistance from the Euro area.
This is an exceptional assessment which MONEYVAL has agreed to undertake outside its normal cycles of mutual evaluation. It will focus exclusively on the effectiveness of Customer Due Diligence measures in the banking sector alone.
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