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Republic of Cyprus
Frequently Asked Questions

1. When was MOKAS established?
2. Is it part of any other service?
3. What are its main objectives?
4. What are its main functions?
5. What is its composition?
6. Which are the domestic bodies and organizations with which it cooperates?
7. Which international organizations does it cooperate with?
8. What International Conventions are compliant with the Prevention and Suppression of Money Laundering Activities Law 2007?
9. Which international organizations does MOKAS participate in?



1. When was MOKAS established?

The Unit for Combating Money Laundering (MOKAS) was established according to section 54 of the Prevention and Suppression of Money Laundering Activities Law 2007 (former Law No.61(I)/96), in December 1996 and became operational in January 1997.
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2. Is it part of any other service?

It functions under the Attorney General of the Republic and it is composed of representatives of the Attorney General, the Chief of Police, and the Director of the Department of Customs and Excise. The members of the Unit are appointed by detachment and the Unit is headed by the representative of the Attorney General. In relation to the composition of the Unit, the Law was amended in 2003 in order to include other professionals. As a result, the Unit recruited accountants and financial analysts.
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3. What are its main objectives?

The FIU is the national center for receiving, requesting, analyzing and disseminating disclosures of suspicious transaction reports and other relevant information concerning suspected money laundering and terrorist financing.
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4. What are its main functions?

Its main functions are to gather, classify, evaluate and analyse information relevant to money laundering and the financing of terrorism offences, which is submitted by reporting entities in accordance with the legislation and regulations, together with information from international and domestic partners. The Unit, inter alia, has the following powers: it co-operates and exchanges information with other FIUs, the Police and other professionals. It issues administrative orders for the postponement of transactions and protects the privacy of the information it possess. Members of the Unit can also apply and obtain court orders, ie, disclosure orders, freezing orders, confiscation orders.
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5. What is its composition?

It is composed of representatives of the Attorney General, the Chief of Police and the Director of the Department of Customs and Excise. The Unit is headed by the representative of the Attorney General. In relation to the composition of the Unit, the Law was amended in 2003 in order to include other professionals. As a result, the Unit also recruited accountants and financial analysts.
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6. Which are the domestic bodies and organizations with which it cooperates?

It cooperates with reporting entities such as financial institutions and professionals, the Customs and Excise Department and all the Supervisory Authorities, which are: the Central Bank of Cyprus, the Superintendent of Co-operative Banks, the Securities and Exchange Commission, the Superintendent of Insurance, the Institute of Certified Public Accountants of Cyprus, the Council of the Cyprus Bar Association, the Registrar of Companies, the Cyprus Police, the Ministry of Justice and Public Order and the Ministry of Finance.
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7. Which international organizations does it cooperate with?

It cooperates with the Financial Intelligence Units of other countries, competent Law Enforcement, Judicial and other Authorities worldwide, Interpol, Europol, the European Commission (Committee on the Prevention of Money Laundering and Terrorist Financing), the Council of Europe (Moneyval Committee) and the Egmont Group.
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8. What International Conventions are compliant with the Prevention and Suppression of Money Laundering Activities Law 2007?

The Prevention and Suppression of Money Laundering Activities Law 2007 of Cyprus is in line with the following international conventions: the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (Vienna Convention) – 1988, the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime – 1990, the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism – 2005, the European Union Council 3 Directives of 1991, 2001,2005, the EU Council Framework Decisions and the 40+9 Recommendations of the FATF on ML&FT.
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9. Which international organizations does MOKAS participate in?

It participates in the following organizations: the Moneyval Committee of the Council of Europe, the EU Committee on the Prevention of Money Laundering and Terrorist Financing, the Camden Assets Recovery Inter-Agency Network (CARIN), the FIU Net Task Force, the Asset Recovery Offices Forum and the FIU Platform.
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Law Office of the Republic of Cyprus
Unit for Combating Money Laundering (MOKAS)