CYPRadar 🇨🇾💰 European Commission launches infringement procedures against Cyprus over AML, tax info exchange, and OLAF data provision
The European Commission has initiated infringement proceedings against Cyprus for failing or delaying compliance with key EU directives. The proceedings target Cyprus’s incomplete implementation of anti-money laundering (AML) rules, inadequate adoption of tax information exchange regulations, and failure to provide banking transaction data to OLAF, the EU’s anti-fraud office. Cyprus, alongside other member states, must now amend its national legislation to align with EU law.
Specifically, Cyprus has not properly transposed Directive (EU) 2018/1673 into national laws, particularly concerning money laundering offenses and penalties, limiting prosecution capabilities including self-laundering cases. Additionally, Cyprus has not fulfilled obligations under Directive (EU) 2025/872 on administrative cooperation in taxation, which involves automated exchange of tax data between member states.
Furthermore, Cypriot laws restrict OLAF’s access to banking data necessary for investigating suspected criminal offenses, undermining cooperation under recent EU regulations. The Commission has given Cyprus two months to respond and rectify these issues to avoid further legal action.
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