New Circular from the Central Bank on “shell companies”


In the furtherance of current anti-money laundering policies, the Central Bank of Cyprus has issued an additional Circular Letter DD 02.11.2018 offering revised and more extensive definitions of ‘shell companies/entities’ as well as recommendations on the relevant customer acceptance and risk evaluation procedures for local banking institutions.


Please find enclosed a copy of the a.m. Circular Letter for your information and guidance.

CB-Circular-Letter-DD-02.11.18-1.pdf

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