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Germany has worse money-laundering record than Cyprus--FATF

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Germany has worse money-laundering record than Cyprus--FATF

Postby tsukoui » Sun Jan 13, 2013 1:35 pm

Germany has a worse record on money-laundering than Cyprus, according to assessments by the Financial Action Task Force (FATF), the global body charged with tackling money-laundering.
The FATF and MoneyVal have published evaluation reports for all 17 countries in the eurozone.
A comparative table that was published on the Cyprus Ministry of Finance website this week shows that Germany is completely non-compliant in five of the FATF-recommended areas, whereas there are no areas in which Cyprus is completely non-compliant.
Cyprus is totally compliant in 12 areas, whereas Germany is totally compliant in only 5.
Cyprus also has the toughest regime in the EU for identification of beneficial ownership, with the obligation to identify ownership kicking in at 10%, instead of the obligation 25% threshold provided for in the 3rd EU anti-money-laundering directive .
On the basis of the number of areas in full compliance, Cyprus ranks 7th out of 17, whereas Germany ranks close to the bottom, at 14th, ahead of Greece, Slovakia and financial centre Luxembourg.


http://www.financialmirror.com/news-details.php?nid=28565
tsukoui
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Re: Germany has worse money-laundering record than Cyprus--F

Postby kurupetos » Sun Jan 13, 2013 1:54 pm

Who gives these records? Cyprus Ministry of Finance? :lol: :lol: :lol:
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Re: Germany has worse money-laundering record than Cyprus--F

Postby GreekIslandGirl » Sun Jan 13, 2013 10:04 pm

The UK is probably the worst but it is so crappy at checking that they all get away with it. HSBC Banking anyone?

http://www.bbc.co.uk/news/business-18880269
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Re: Germany has worse money-laundering record than Cyprus--F

Postby Cap » Sun Jan 13, 2013 11:44 pm

Wow, if Germany and UK were so bad....
Obviously the system works, regardless.

The only country in the world where Cypriots had a significant reverse immigration was South Africa.
Any person with an iota of intelligence can figure it out.
In regards with Germany and UK, Cyp's are standing in line to get the fu** outta this place and into these so called 'corrupt' countries.
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