The EU on Monday (13 May) said many Cypriot banks do not know who their customers really are, but wired Nicosia €2 billion anyway.
Commenting on a recent study on money laundering in the Mediterranean island, eurozone finance ministers said in a joint communique that it must do better on "customer due diligence by banks" and must fix "the functioning of [its] company registry."
Dutch finance chief Jeroen Dijsselbloem, who chairs the ministers' meetings, added: "This report shows t...
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