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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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Cyprus Ranks Among EU Leaders In Tertiary-Educated ICT Workforce

High Educational Attainment Sets Cyprus Apart

Recent data from Eurostat showed that Cyprus is expected to rank among the leading European countries for tertiary-educated ICT professionals in 2025. According to the figures, 96.4% of ICT professionals in Cyprus are projected to hold tertiary education qualifications, placing the country among the highest-ranked members of the European Union.

Gender Disparity Remains A Critical Challenge

Despite the high level of educational attainment, the ICT workforce in Cyprus continues to show a significant gender imbalance. Men are projected to account for 85.1% of ICT employees in 2025, while women are expected to represent 14.9% of the sector. In 2024, the split stood at 70.9% for men and 29.1% for women. The figures highlighted a widening gender gap within the country’s ICT workforce.

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European Union Trends And Comparative Analysis

Across the European Union, the number of ICT professionals is projected to increase to 3.4 million in 2025 from 3.2 million in 2024, representing annual growth of 5.1%. Men are expected to account for 83.4% of ICT employment across the bloc, equivalent to approximately 2.8 million workers, while women are projected to represent 16.6%.

National Performance Variability In Gender Representation

Countries within the EU show a varied landscape: the highest percentages of male ICT professionals are reported in the Czech Republic (92.9%), Slovenia (89.1%), Latvia (89.0%), Lithuania (88.9%), and Slovakia (88.4%). On the contrary, nations such as Denmark (30.0%), Sweden (29.8%), Romania (28.6%), Bulgaria (25.6%), and Croatia (25.2%) lead in female participation in the ICT arena.

Educational Background Across The European ICT Sector

Eurostat data also showed that most ICT professionals across the EU hold tertiary education qualifications. By 2025, 74.8% of ICT workers in the bloc are projected to have university-level education, while 25.2% are expected to hold secondary or post-secondary qualifications. Denmark recorded the highest share of tertiary-educated ICT professionals at 97.7%, followed by France at 96.6% and Cyprus at 96.4%. Other countries with high levels of tertiary-educated ICT workers included Ireland at 92.3%, Bulgaria at 91.1%, and Croatia at 90.9%. At the lower end of the ranking, Italy recorded 69.2%, while Portugal stood at 58.8%.

Conclusion

The data perfectly encapsulates the dual narrative in the ICT sector: while countries like Cyprus and Denmark achieve remarkable educational standards among ICT workers, persistent gender disparities remind us that diversity remains an ongoing challenge. As the ICT landscape continues to evolve, strategic policy formation and corporate governance will be pivotal in balancing excellence with inclusivity.