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Pre-bailout investigation of Cypriot banks

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Published on: 26 February 2013

Published by a LexisNexis Financial Services expert

Table of contents

Original news
What are the key concerns surrounding the financial operations of Cyprus?
Are there close links between Cyprus and Russian depositors?
How will the investigations operate and what level of scrutiny is expected?
Why has Cyprus not properly implemented the EU Money Laundering Directives?
If Cyprus is found to be in breach, what will this mean?
What should lawyers do next?

Article summary

Financial Services analysis: Cypriot banks are coming under increasing pressure to disclose their financial operations ahead of the European bailout as allegations that Russian depositors are siphoning money to Cypriot banks come to light. Sarah Clarke, barrister at 3 Serjeants’ Inn, discusses the impact of these allegations on the island’s future economic stability.

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