On 28 February 2019, the Cyprus Securities and Exchange Commission (CySEC) issued the “Guidance on Identifying, Assessing and Understanding the Risk of Terrorist Financing in Financial Centres.”

The guidance was generated as a result of a workshop in Monaco that took place in April 2018 and international Terrorist Financing (TF) experts and representatives participated from a number of financial centres (FC) to consider the specific TF risks facing FCs and the information they should draw on for the purpose of identifying, assessing and understanding these risks.

All regulated entities must consider the guidance for the implementation of adequate and appropriate policies and procedures so as to manage TF risks effectively.

CySEC’s circular and guidance can be found here.