Members of the House Legal Committee filed an issue for discussion, related to yesterday’s revelations by the International Consortium of Investigative Journalists (ICIJ), shedding light on Cyprus’s connection to the hiding of illicit financial assets for autocratic regimes.
Committee chair and Disy MP Nikos Tornaritis, told philenews, that “no individual stands above the law,” stressing the importance of safeguarding the reputation of Cyprus.
Tornaritis highlighted the strides made in recent years, pointing to the establishment of a robust legal framework aimed at combating corruption. Cyprus has also diligently passed all three anti-corruption bills mandated by the European Union, he noted.
The matter will be discussed by the MPs next Wednesday, November 22. Tornaritis announced that the Committee will delve into the revelations, receiving a comprehensive briefing from authorities on the gathered evidence.
The Legal Committee intends to summon key government entities, including the Ministry of Finance, the Ministry of Justice, the Attorney General, the Police, and the Unit for Combating Money Laundering (Mokas), to seek accounts of their actions in response to the issues raised in the exposé.
The revelation, named ‘Cyprus Confidential’ is an extensive investigation which unveils intricate webs connecting Cyprus to entities associated with Syria’s authoritarian rulers, who sought to evade U.S. sanctions through intermediaries on the island, and Kremlin affiliates orchestrating payments to a prominent German journalist known for producing favourable coverage of Russia’s autocratic leader.
The report also demonstrates how PWC’s Cypriot branch facilitated Russian oligarchs in evading Western sanctions, turning Cyprus into a clandestine financial hotspot.
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