Cyprus's financial intelligence unit received 24,092 suspicious transaction and activity reports during 2025, a sharp rise attributed mainly to crypto-asset service providers and cross-border financial business, according to an annual assessment prepared by Mokas and distributed by CySEC. Crypto-asset firms filed 20,570 submissions, investment firms added 980, and gambling operators contributed 136 reports, according to the assessment and a summary by Kiprinform. The figures show how digital finance has become the largest source of alerts for the country's anti-money laundering body.
Crypto and investment firms dominate
The assessment records that crypto-asset service providers were responsible for 20,570 reports in the year, while investment firms sent in a further 980. Both groups include many Cyprus-licensed entities that operate across the European area under EU freedom to provide services rules. That cross-border business was a major factor behind the overall increase, according to the report.
Domestic reporting rises 16 per cent
Domestic reporting entities submitted 1,183 reports, an increase of 16 per cent from 2024. Banks were the largest traditional domestic group with 597 reports, followed by payment institutions at 340 and gambling service providers at 136. Smaller numbers came from lawyers at 33, company service providers at 32 and accountants at 28. Although gambling is not a leading source of reports, the sector remains part of the domestic reporting picture.
Suspicion triggers highlighted
The assessment lists virtual-asset transactions, the use of money mules, dealings between parties with no apparent relationship, internet fraud, cybercrime and suspected money laundering as among the most common reasons entities submitted reports. These indicators often involved activity that crossed borders or took place through digital channels.
Better quality, but gaps remain
Mokas said the overall quality and usefulness of reports improved in 2025, with more financial intelligence passed to law enforcement and larger sums of assets frozen in domestic and cross-border investigations. It linked the progress to more specific guidance for reporting entities, training and information events, support meetings and cooperation through the anti-money laundering private-public partnership. Despite that, the authorities identified continuing weaknesses in some submissions: poorly explained suspicions, missing paperwork and incomplete details about parties involved. Another 185 reports were turned back at the initial stage because of technical problems, including narratives that did not meet length rules and absent attachments or client identification data. CySEC has asked regulated firms to review the assessment and keep strengthening their reporting.
Intelligence sharing and frozen assets
The financial intelligence unit sent 572 disseminations to law enforcement bodies and state departments, of which 469 went to police and 58 to the tax department. Domestic freezing orders covered more than €10 million across criminal investigations, with over €8 million in immovable property and about €617,340 in crypto-assets. In cases involving international cooperation, foreign freezing orders registered through mutual legal assistance requests reached roughly €17.12 million, while total asset confiscations surpassed €6.5 million. The assessment noted that the unit's workload is growing as digital financial services and cross-border activity expand, and that the value of reports depends on quality as well as volume.
