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Cyprus Money-Laundering Crackdown Has Deficiencies, Report Shows

Cyprus’s attempts to stop money laundering, required as part of a 10 billion-euro ($12.9 billion) international rescue, have “systemic deficiencies,” according to a report by Deloitte Financial Advisory Srl.

“The data included in Deloitte’s analysis expose systemic deficiencies in the implementation of preventive measures by the audited institutions,” a summary of the report distributed to reporters in Helsinki today shows.