CYPRUS MIRROR
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€220 Million New Money Laundering Allegations in Southern Cyprus

€220 Million New Money Laundering Allegations in Southern Cyprus

A financial company in Southern Cyprus is under scrutiny for money laundering allegations involving around €220 million, as reported.

Publish Date: 28/12/23 13:35
reading time: 1 min.
€220 Million New Money Laundering Allegations in Southern Cyprus
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The Alithia newspaper stated that, according to a report published yesterday by "Euronews" and based on the French newspaper "Le Monde," approximately €220 million of illicit funds from illegal activities and suspicious investments for the Cypriot financial company "T.C.R International Limited" were laundered at the Southern Cyprus branch of the French bank "BNP Paribas."

The newspaper noted that the report mentioned some shell actions but did not provide details about these actions, adding that investigations into the matter have been initiated by French and US authorities.

The report indicated that suspicious financial transactions exceeding €220 million were identified by the said financial company between 2019 and 2021.

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