Thursday, March 20, 2025 7:27 PM
Image aggregated from ReadWrite.
A proposed bill that looks to exempt casinos from Cyprus’ €10,000 [$10,857] cash transaction cap has been met with strong opposition, as critics warn it could be counterproductive against anti-money laundering efforts.
The timing of the proposal has also raised eyebrows, as tighter EU regulations on casino cash flow are set to take effect in 2027.
During a CyBC radio interview, Volt MP Alexandra Attalides openly opposed the bill, accusing lawmakers of enabling money laundering. In this interview, she specifically highlighted the millions of euros in unmonitored cash transactions making their way through Cyprus.
She also suggested that it wouldn’t be great for the country to get another reputational hit after previous money-laundering scandals.
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