MONEY LAUNDERING ACTIVITIES IN SOUTH
CYPRUS
According to the Greek Cypriot daily ‘Fileleftheros’,
in the 2002 report published by the US State Department on world drug
control, it was stated that money was being laundered in South Cyprus, and
as a result of this South Cyprus is facing many problems on this issue.
Pointing out that as a result of modern
electronic services, South Cyprus is still faced with a money laundering
problem, the US State Department report stated that the main source of this
problem was drugs smuggling.
The report also mentioned that ex-Yugoslav
leader, Slobodan Milosevic, to launder money, used South Cyprus.
Meanwhile, another Greek Cypriot daily ‘Simerini’,
reported that in another report it was stated that there has been an
increase in drug use in South Cyprus.
