30
January
2018

PUBLIC CONSULTATION – ON THE PREVENTION OF THE USE OF THE FINANCIAL SYSTEM FOR THE PURPOSES OF MONEY LAUNDERING OR TERRORIST FINANCING IN ACCORDANCE WITH THE DIRECTIVE (EU) 2015/849 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 20 MAY 2015

The National Betting Authority (hereinafter referred to as the “Authority”),

  • in exercise of the powers conferred by article 11(c) of the Betting Law of 2012, Ν.106(Ι)/2012 (hereinafter the “Law”), as amended or replaced from time to time, has the power to draft and issue Directives, to apply preventative measures to combat money laundering, in accordance with the provisions of the Prevention and Suppression of Money Laundering and Terrorist Financing Law, and
  • in implementing the Directive (EU) 2015/849 of the European parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, into our national legislation,

announces a public consultation for the submission of comments / opinions / suggestions on the above-mentioned subject, which can be found here.

The purpose of this public consultation is twofold: to ensure that all stakeholders receive adequate information regarding the practices that the Authority intends to apply to prevent the use of the financial system for money laundering or terrorist financing, and to provide the opportunity to stakeholders to submit their comments and suggestions.

On this basis, all stakeholders are invited to complete the response template provided with all possible comments or feedback they may have and submit it to the email address directives@nba.gov.cy until the 16th of February 2018.