This article is intended to help corporate service providers understand and identity how money launderers typically operate in order to successfully target and stop those who are facilitating crimes being turned into profit.

AGENDA: What is the purpose of compliance?, The different types & reasons behind briberies, International legislation on anti-bribery compliance, The impact of UKBA & the FCPA, ISO 37001 and its main objectives, How to build anti-bribery compliance, Governing body’s duties in anti-bribery compliance, Top management’s duties in anti-bribery compliance, Anti-bribery compliance functions, Suspicious reporting, who & in what circumstances, Tipping off procedure.

AGENDA: Purpose and definition of a Double Tax Treaty ('DTT'), Types of DTTs dealing with tax matters, History of DTTs, DTTs and domestic law, Format and structure of a DTTs, Tax covered and not covered by DTTs, Interpretation of DTTs.

Recently, the Cyprus Central Bank issued guidance to banks & credit institutions, advising them of the new mandatory refusal to take on new clients or to continue servicing existing accounts with so-called shell or letter-box companies.