Cyprus law firms found to be involved with suspicious activities regarding the infamous Panama Papers

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The Chairman of the House of ethics committee stated out of 70 Law firms acting as intermediaries which were named in the panama papers scandal, four have been referred to the disciplinary council after failing to comply with the Cyprus Bar association’s instructions.

The head of the anti-money laundering unit Mokas have also secured a legal ruling to freeze bank accounts belonging to a foreign national with funds totaling €16 million. The individual in question appeared in a number of companies relating to the documents; however no suspicious transactions have been found thus far.