Cassoulides announces image offensive on laundering claims

CYPRUS will take the offensive to defend its reputation against claims it is used for money laundering, Foreign Minister Yiannakis Cassoulides said yesterday.

He told the House Finance Committee the government was preparing a national report it would use to brief foreign governments, and particularly the European Union on the issue.

This report would in part rely on findings by foreign experts outlining Cyprus’ measures against money laundering – including tough regulations by the Central Bank.

Cassoulides, who was replying to questions during the committee’s examination of his ministry’s budget for 1998, said EU experts and other officials were being invited to Cyprus to see what was being done for themselves.

Cypriot officials from the customs, the Attorney-general’s office and other government departments will participate in international gatherings on the issue, particularly in meetings organised by the European Union.

“Cyprus is being slandered that it is a place where dirty money is being laundered. I can reveal that this claim came close to being included in the European Union’s Agenda 2000 and was only avoided because of our concerted action,” he told the committee.

Foreign experts will be invited to Cyprus to see the system in force. Cypriot experts will play an active role in meetings abroad.

“At such specialised meetings we will not be represented just by our diplomatic representative in the specific country who is necessarily an observer, but will send our experts who will take an active part,” he said.