Insider Economy FinMin satisfied over US Congress Financial Services Committee chair remarks on AML

FinMin satisfied over US Congress Financial Services Committee chair remarks on AML

Finance Minister Harris Georgiades said he was particularly satisfied over the comments made by Maxine Waters, Chairwoman of the US Congress Financial Committee over the progress made by Cyprus on issues of anti money laundering (AML).

Heading a bipartisan delegation, Waters held contacts in Cyprus this week on AML issues.

In a statement issued after her contacts, Waters said she was “pleased to see that the close cooperation and coordination between the Republic of Cyprus and the United States is beginning to pay off,” adding that “while I would like to see additional progress toward detecting and stopping illicit financial activity, our discussions and meetings with our Cypriot hosts, for which we are grateful, leave us confident that Cyprus is up to the challenge.”

“Waters’ remarks acknowledge the considerable progress achieved in our country during the last years. Free from bad practises of the past, Cyprus is in a position to credibly cooperate with the international community and to face challenges in the field of combating money laundering,” Georgiades said in a written statement, adding that this acknowledgement “substantially contributes in the restoration of Cyprus’ reputation.”

Concluding, Georgiades stresses that the government’s and the Cyprus authorities’ commitment to promote further reforms in AML “remains strong.”
Read more

https://in-cyprus.com/mixed-message-for-cyprus-from-us-house-financial-services-committee/

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