The Finance Ministry will continue to apply all procedures covering the proper controls of entry points in the Republic with the sole purpose of protecting the state and the economy, Finance Minister, Makis Keravnos, assured on Friday. He was commenting on reports about allegations for a 'black hole' at the entry points which allows money laundering activities. In a written statement Keravnos said the Ministry, taking into account very seriously comments made in good faith 'and in the framework of its effort to continuously improve the procedures and systems to control liquid funds at the Republic of Cyprus' entry points has taken actions to investigate the matter and to find ways of stepping up and improving the work of the Customs Department and to render its work more effective.' He also noted he has given directives to the Customs Department for promoting procedures for a shift system in specific entry points of the Republic as well as to intensify the frequency in personnel rotation in the said entry points. The Minister also added that efforts are taken to bolster 'the already very good collaboration and exchange of information between the Customs Department and Financial Intelligence Unit (FIU)." Source: Cyprus News Agency
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