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TRNC a money laundering hub

29 August 2015

Tax expert Goksel Saydam, has said that the TRNC remains ill-equipped to combat money laundering.

Saydam, who was commissioned to train the police to deal with money laundering said that the TRNC police’s financial crime investigation unit, which was established in 2011 in order to fight financial crime, faces many difficulties because of gaps in the law.

He said that because the TRNC is not internationally recognised, it has become a hub for money laundering. He also said that dirty money, which is being laundered through shell companies, finances terrorists. Meanwhile, the police can only look on while its hands remain tied because of loopholes in the law.

Star Kibris

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