Assistant Secretary Billingslea visits Cyprus

The U.S. Department of the Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea had several meetings today with the Government of the Republic of Cyprus.  The purpose of Assistant Secretary Billingslea’s trip was to enhance cooperation between the United States and Cyprus to ensure that Cyprus has a strong and healthy financial sector.  In a series of meetings with Foreign Minister Christodoulides, Finance Minister Georgiades, Central Bank Governor Georghadji, and other officials, Assistant Secretary Billingslea discussed the positive improvements and reforms that Cyprus has made in its anti-money laundering regulations and regulatory oversight.  Discussions today also explored areas where the United States and Cyprus can continue to partner to fight threats to the international financial sector.

Positive, long-term economic development requires a strong and well-regulated banking sector.  It is vital that illicit actors know that Cyprus is not open for business.  The United States was encouraged by the commitments made by Cypriot officials today and will continue to work together to combat corruption, money laundering, and other financial threats.