April 5 2019
Casinos and the offshore banking sector in the breakaway Turkish Cypriot state in the north of the island remain areas of concern for money laundering activity, a US State Department report said.
According to the State Department’s Bureau of International Narcotics and Law Enforcement Affairs, anti-money laundering (AML) measures were not sufficiently enforced to effectively prevent the practice.
“The casino sector and the offshore banking sector remain of concern for money laundering abuse,” the report said.