Leaked report damns Cyprus on money laundering

A confidential paper - published in May 2013 and drawn up in April 2013 by Moneyval, a unit of the Strasbourg-based Council of Europe, and by US accountancy firm Deloitte on the request of eurozone finance ministers, shows that almost 60 percent of one Cypriot bank's clients are "high risk" in terms of money laundering and almost a third of all bank depositors' records contain errors.

The full version, containing banks and customers' names, is still under lock and key, but the leaked four-page resume paints a damning picture of what goes on in the mini financial centre which just got €2 billion of EU taxpayers' money.

ESO: Background Information: EU finance ministers talk banks, loan tranches and Slovenia http://www.europeansources.info/record/eu-finance-ministers-talk-banks-loan-tranches-and-slovenia/

Cyprus – Effective implementation of customer due diligence measures level of implementation of preventive measures by financial institutions summary report of main findings by Moneyval and the indipendent auditor http://euobserver.com/media/src/259b30bcbb4363941b0c875270da7350.pdf

EUObserver, 24.05.13: Cyprus bank accuses troika of misleading EU ministers http://euobserver.com/institutional/120239

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