Latest news, information and statistics about the black market and security in Cyprus.
There are around 12,000 shell companies that are registered in Cyprus. These companies are in paperwork only and have no physical presence in the country.
In a classified report conducted by accounting firm Deloitte in March -April 2013, the firm found that the number of suspicious financial transactions was 30 times the number that officials in Cyprus reported.
Source: Andrew Rettman, “Cyprus gets €2bn despite money laundering concerns,” EUObserver, May 14, 2013.
Police in Cyprus identified 52 people as victims of human trafficking in the country in 2010. Two of the victims were children.
In 2009, authorities identified 113 human trafficking victims.
2 people were convicted of human trafficking charges in Cyprus in 2009, down from the 11 convictions in 2008.
Source: AFP, “Experts urge Cyprus to act tougher on human trade,” Expatica, September 12, 2011.
