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Cyprus-Based Firms Propel Surge In Cross-Border Suspicious Activity, Reports CySEC

by THEFUTURE.TEAM

May 22, 2026

Heightened Regulatory Measures In Response To Rising Risks

The Cyprus Securities and Exchange Commission (CySEC) has introduced a robust revision of anti-money laundering guidelines, addressing a significant uptick in suspicious transactions and activity reporting identified by the Financial Intelligence Unit, Mokas. Authorities are now enforcing enhanced standards to fortify Cyprus’ defenses against money laundering and terrorist financing in an increasingly complex financial landscape.

Enhanced Reporting And Compliance Framework

In a recent circular, CySEC instructed regulated firms to improve the quality and timeliness of suspicious transaction reports, suspicious activity reports and supporting documentation. Updated requirements also require firms to immediately integrate the new standards into internal compliance procedures and risk management systems. Authorities said the measures are intended to improve oversight capabilities while reinforcing the integrity of Cyprus’ financial sector.

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Insights And Strategic Reports From Mokas

Mokas recently published two strategic reports examining emerging risks tied to betting platforms, gambling activity and technology-enabled financial fraud. Particular attention was given to the growing use of money mules and increasingly complex digital payment structures. The reports analyse reporting patterns and identify operational vulnerabilities while providing indicators aimed at strengthening internal monitoring systems.

Cross-Border Activities And Industry-Specific Trends

The surge in suspicious reports was largely driven by fintech firms operating under EU passporting rules from Cyprus, with most reports relating to activities beyond national borders. Submissions from crypto asset service providers exceeded 20,000 entries, reflecting the growing role of digital finance and its associated risks. Traditional financial institutions and professional service providers also continued contributing to reporting volumes, while issues involving deficient documentation and concealed beneficial ownership remained ongoing concerns.

Advancing Enforcement And Technological Innovations

Mokas’ 2025 annual report showed a sharp increase in enforcement activity. Domestic asset freezing orders exceeded €10 million during the year, while combined domestic and international freezing orders surpassed €27 million. Authorities also expanded the use of automation and risk-based analytical systems to improve prioritisation of high-risk cases. Ongoing upgrades include technologies designed to automate report analysis and improve tracking of cryptocurrency-related transactions.

Looking Ahead: A Strategic Roadmap For 2026-2028

CySEC is now preparing to implement a broader three-year strategy focused on strengthening public-private cooperation, improving reporting standards and intensifying oversight across traditional and digital financial sectors. Regulated entities were reminded that compliance with updated requirements, including registration through the goAML system, remains essential for maintaining market integrity and financial system resilience.

Growing financial crime risks linked to digitalisation and cross-border transactions continue to increase pressure on regulators and private institutions to strengthen monitoring and compliance frameworks.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.