Improvement of Cypriot Banks' Reputation Through Compliance
September 12, 2024
Cypriot banks are receiving positive feedback from the United States for distancing themselves from Russian and Belarusian assets, which have decreased to less than 1%. In a recent seminar, the U.S. ambassador praised the compliance departments for improving the reputation of the Cypriot banking system. She emphasized that banks are being more cautious regarding high-risk individuals and are more closely aligned with the Western banking environment.