Central Bank of Cyprus fines Banque SBA €750,000 for AML compliance failures

The Central Bank of Cyprus (CBC) announced on September 30, 2026, that it has imposed an administrative fine of €750,000 on Banque SBA Cyprus. This regulatory measure stems from findings identified during an audit conducted in 2023, which revealed that the institution failed to comply with established laws regarding the prevention of money laundering and terrorist financing.

The decision was finalized on September 29, 2026, following the CBC’s internal supervisory assessment. According to official statements, the penalty was issued under section 59(6) of the Prevention and Suppression of Money Laundering Activities Law of 2007. The CBC specified that the bank had breached provisions related to Part VIII of the law and the 2019 directive to credit institutions. The regulator noted that the process adhered to administrative law principles, ensuring the bank was granted an opportunity to present explanations prior to the final ruling.

This enforcement action is part of the ongoing efforts by the Central Bank of Cyprus to uphold strict financial security standards and ensure institutional adherence to both domestic and international banking regulations. No further legal challenges or subsequent actions against the bank were announced at this time.