Central Bank of Cyprus Imposes Significant €350,000 Fine on Payabl. Cy Ltd

by THEFUTURE.TEAM

October 8, 2025

Central Bank Enforces AML Compliance

The Central Bank of Cyprus has sanctioned Payabl. Cy Ltd, formerly known as Powercash21 Ltd, with a fine totaling €350,000. This penalty comes as a direct consequence of the company’s failure to comply with specific provisions of the 2007 legislation governing the Prevention and Suppression of Money Laundering from Illegal Activities.

The Basis for the Decision

Grounded in Article 59 of the relevant law, the decision was finalized on September 30, 2025, following a 2020 audit. The regulatory process was conducted in strict accordance with administrative law procedures, ensuring that Payabl. Cy Ltd was afforded the opportunity to submit a defense prior to the final ruling.

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Regulatory Oversight and Strategic Enforcement

In exercising its supervisory mandate, the Central Bank of Cyprus is empowered to implement administrative measures and impose penalties for lapses in compliance with applicable laws and directives. This enforcement action reinforces the bank’s strategy to promote transparency and combat money laundering within the financial sector.

Corporate Response and Future Steps

A representative of Payabl. Cy Ltd remarked that the fine pertains to an investigation conducted in 2020, linked to customer relationships from the period 2014–2018—a period during which the company had already ceased relations with those clients. The spokesperson emphasized that the current operations, leadership, and client base remain unaffected by these historical findings. Additionally, the company has significantly bolstered its AML compliance framework since then. Payabl. Cy Ltd has indicated its intention to appeal the decision before the Administrative Court, contesting the ruling as disproportionate given the historical nature of the case.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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