Cyprus Supreme Court upholds freezing of FBME bank accounts linked to Angolan officials

The Cyprus Supreme Court has rejected a request by five account holders—one individual and four legal entities—to overturn a freezing order on their accounts held at the local branch of FBME Bank Ltd. The ruling maintains a temporary freezing order issued by the Nicosia District Court on June 16, 2026, which remains in effect pending further legal developments.

This legal action stems from an ongoing investigation into alleged corruption involving the former President of Angola, José Eduardo dos Santos, and his daughter. The case involves millions of euros held in these specific accounts. Sworn statements from the Unit for Combating Money Laundering (MOKAS) indicate that the freezing of assets is being executed in response to a request for mutual legal assistance submitted by Angolan authorities to the Cypriot Ministry of Justice on May 26, 2026.

FBME Bank’s Cyprus branch closed 12 years ago, and a liquidator was appointed to manage its remaining affairs in 2023. Despite this, the bank's legacy continues to generate significant litigation in the Cypriot court system, particularly regarding international money laundering investigations.