Corruption in Cyprus

Extent

The government of Cyprus has in theory made some progress in fighting against corruption, and one of them is the amendment to its Criminal Code in 2012 which provides the Criminal Law Convention on Corruption. The strong and independent judicial system is able to ensure the protection of property rights; therefore, foreign investors do not consider corruption a pressing issue for doing business in Cyprus. However, a whistleblower protection law is needed in the country in order to ensure an effective anti-corruption measure. It is also important to note that money-laundering remains a serious problem in the country. In addition, corruption scandals involving politicians from major political parties are not uncommon and when these get uncovered, little to no effort in taken to pursue them. The usual “defense” employed by accused politicians, involves official statements indicating that “they know too much” and if their case is pursed, they will uncover dirt involving other political party members.