Nicosia and Washington reaffirmed their shared commitment to enhancing Cyprus‘s capabilities in combating illicit financing and money laundering, according to a joint statement from the Republic of Cyprus and the U.S. Embassy in Nicosia.

Following a meeting between President Christodoulides and an FBI delegation in Cyprus, the statement highlighted that in March 2024, Nicosia and the United States launched a joint initiative to bolster the Republic of Cyprus’s capacity to identify, investigate, and prosecute financial crimes.

This initiative, led by the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI), with support from the State Department’s Bureau of International Narcotics and Law Enforcement Affairs (INL) and the U.S. Embassy in Nicosia, “has yielded significant progress.”

The FBI and the U.S. DOJ have shared their extensive expertise with Cypriot authorities, enhancing their capabilities to proactively detect, investigate, and prosecute cases involving financial crimes related to Cyprus, the statement noted.

“The U.S. Government has provided specialized investigative and prosecutorial assistance, significantly boosting Cyprus’s ability to handle complex financial criminal cases. This collaboration has also advanced efforts to combat money laundering and improved future prosecutions, strengthening the integrity, resilience, and effectiveness of Cyprus’s legal system and economy,” it added.

An example of this commitment to joint efforts and positive collaboration is, at Cyprus’s request, the relocation of the Regional Legal Advisor (RLA) to Cyprus. “The RLA program brings U.S. prosecutors to assist governments in more effectively prosecuting criminals, particularly in complex cases,” the statement added.

Regarding future actions, the joint announcement highlighted an ambitious training plan for 2025 to continue developing new skills and competencies for Cypriot authorities, both locally and at the International Law Enforcement Academy (ILEA) in Budapest.

Currently, the plan includes over 21 weeks of training for various Cypriot law enforcement agencies in areas such as financial investigation techniques, forensic accounting, case management, and technology solutions related to investigations. “The collaboration initiated by the FBI/DOJ task force will continue, ensuring that thorough investigative work adheres to the highest standards of justice and leads to successful prosecutions,” the statement noted.

The Republic of Cyprus and the United States share a common vision for justice and are united in their commitment to enhancing cooperation on critical law enforcement issues, the joint statement emphasized. Both countries look forward to continuing their collaboration in addressing these challenges, ensuring justice is served and financial crimes are effectively tackled, the statement concluded.