US and Cyprus reaffirm commitment to counter illicit finance

The United States of America and the Republic of Cyprus have reaffirmed their shared commitment to enhancing Cypriot capabilities to counter illicit finance, noting that the collaborative effort between the two countries has yielding significant progress and will continue in 2025.

A common press release issued by the Republic of Cyprus and US Embassy in Nicosia, noted that the "United States and the Republic of Cyprus reaffirm this collaboration remains an ongoing effort. The United States remains committed to ongoing coordination with Cypriot law enforcement to strengthen capabilities in countering illicit finance".

Noting that in March 2024, the United States and the Republic of Cyprus embarked on a collaborative effort to strengthen the Republic of Cyprus's ability to detect, investigate, and prosecute financial crimes, it said that this initiative, spearheaded by the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI), with support from the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) and Embassy Nicosia, has yielded significant progress.

Furthermore, it noted that the FBI and the DOJ have shared their extensive experience with their Cypriot counterparts, "resulting in enhanced capabilities to proactively detect, investigate, and prosecute cases involving financial crimes with a nexus to Cyprus.  The US government provided expert investigative and prosecutorial assistance, significantly boosting Cypriot capacity to handle complex financial criminal cases.  This partnership has also furthered efforts to counter money laundering and strengthen future prosecutions, improving the strength, integrity, and resilience of the Cypriot legal system and economy".

"The United States and the Republic of Cyprus reaffirm this collaboration remains an ongoing effort", the joint press release said, adding that "the United States remains committed to ongoing coordination with Cypriot law enforcement to strengthen capabilities in countering illicit finance. One example of this commitment to the joint effort and the positive collaboration between the United States and the Republic of Cyprus is the decision, upon the request of the Republic of Cyprus, to relocate the Regional Legal Advisor (RLA) to Cyprus.  The RLA program brings U.S. prosecutors to help governments more effectively prosecute criminals, especially in complex cases".

For 2025, it said "there is an ambitious 2025 training plan to continue developing new skills and capacity in Cypriot counterparts, both locally and at the International Law Enforcement Academy (ILEA) in Budapest.  At present, the plan contains over 21 weeks of training to different Cypriot law enforcement agencies in areas such as financial investigative and forensic accounting techniques, case management, and technological solutions relevant to investigations.  The partnership initiated by the FBI/DOJ Working Group will continue, ensuring thorough investigative work upholds the highest standards of justice and leads to successful prosecutions".

Concluding, the press release said that "the United States and the Republic of Cyprus have a shared vision for justice and are united in their dedication to enhancing collaboration on critical law enforcement topics" while "both nations look forward to continued partnership across these challenges, ensuring that justice is served and financial crimes are effectively countered".