Insider Business Bank of Cyprus: zero tolerance on money laundering

Bank of Cyprus: zero tolerance on money laundering

Bank of Cyprus will show zero tolerance to money laundering,  chairman Joseph Ackermann and CEO John Hourican said in a circular sent to staff on Thursday. The bank’s leadership told personnel they expected strict adherence to regulations and failure to do so would have a negative impact on their performance assessment.

“We are operating in a highly connected world where the financial system is largely regulated and where banks are effectively the subsidiaries in international trade flows. We take this responsibility very seriously, and it is important to remind each member of staff of it,” they said. ‘The bank, they add, “has a zero tolerance policy on money laundering and no excuses are accepted for breaking the law or violating internal policies, or its compliance framework,” they added.

The circular noted that “as of 2014, the framework for combating financial crime and the compliance framework has been fully revised. Current policies, processes, monitoring and actions to safeguard the bank are set to the highest standards in Europe, but we depend on our employees to uphold these standards.”

Top Stories

Three new coronavirus cases detected out of 3,036 tests

The Ministry of Health has announced that 3 new cases of the SARS-CoV-II virus were detected in Cyprus over the past 24 hours out...

Ministry of Health: New email address for covid protocol questions

An email address is now set up for any questions concerning the protocols and guidelines for matters regarding the COVID-19 virus, the public may...

Christodoulides tells EU counterparts Turkey chooses to escalate tensions with Cyprus

The Minister of Foreign Affairs presented the ongoing illegal actions of Turkey in the Exclusive Economic Zone of Cyprus to EU's Foreign Affairs Council...

CSEC investigates possible match fixing for Match Day 4 of Cyprus League

The Cyprus Sports Ethics Committee (CSEC) is investigating a possible match fixing in the framework of the Match Day 4 of the Cyprus football...

US donates personal protective equipment worth €15,000 to Famagusta Hospital

US Ambassador in Cyprus Judith Garber handed over on Monday personal protective equipment valued at €15,000, including over 13,000 masks and over 600 goggles...

Taste

Chicken with okra and bulgur wheat

Heat the oil in a pan and sauté the okra until golden. Remove the okra, lay out in an oven tray and sprinkle with...

Swordfish with aubergines

To toast the sesame seeds: place sesame seeds in a small non-stick frying pan over low heat and stir until you begin to smell...

Ravioli

Just a little before serving, heat the broth and add the ravioli. (If the ravioli is frozen you don’t have to defrost). Heat them...

Seafood kebab with avocado salad

Place the mussels, shrimps and salmon in a bowl together with tarragon and lemon zest. Season and cover, keeping in the fridge for 15...