Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) alerted regulated entities to strengthened anti-money laundering guidelines and new risk reports as data from the Financial Intelligence Unit (Mokas) showed a sharp rise in suspicious transaction reporting and growing cross-border financial activity.
Updated framework and reporting expectations
CySEC said the updated framework, issued through a formal circular, aims to enhance the effectiveness of Cyprus’ system for combating money laundering and terrorist financing, placing greater emphasis on the quality and timeliness of reporting by supervised firms.
CySEC said revised guidance issued by Mokas focuses on improving how entities submit suspicious transaction reports, suspicious activity reports and additional information files, reflecting the increasing complexity of financial crime risks.
The commission said high-quality reporting is a cornerstone of an effective compliance system and urged firms to integrate the new guidelines into their internal procedures and risk controls without delay.
Sector-tailored indicators and new strategic reports
CySEC said the guidance is tailored to different sectors and includes updated indicators to help firms better identify suspicious behaviour, recognising their central role in detecting and reporting illicit activity.
CySEC also pointed to two newly published strategic reports by Mokas covering money laundering risks in betting and gambling and emerging trends in technology-enabled fraud, including the growing use of so-called money mules.
The regulator said the reports analyse patterns in submitted reports, highlight vulnerabilities and provide practical indicators to support firms in strengthening their monitoring systems and identifying red flags.
Annual report and Mokas comments
CySEC said the findings are intended to support more effective detection of suspicious activity and improve the overall quality of reporting, while also encouraging closer cooperation between the public and private sectors.
The circular also highlighted Mokas’ annual report for 2025, which provides an overview of trends, risks and enforcement outcomes across Cyprus’ financial system.
“The report reflects the work, actions and priorities of the unit in a continuously changing and demanding international environment,” said Maria Kyrmizi Antoniou, head of the Cyprus Financial Intelligence Unit and senior counsel of the Republic.
How will your organisation incorporate the updated Mokas indicators and reporting guidance into its internal controls?
