Cyprus MOKAS reports record asset seizures totaling 60 million euros

On October 7, 2026, the head of the Unit for Combating Money Laundering (MOKAS), Maria Kyrmizi-Antoniou, informed the Parliamentary Legal Committee that seized assets linked to criminal investigations have reached over 60 million euros this year. This figure represents a significant increase, as it doubles the 30 million euros recorded in 2025 and marks a substantial rise from the 8 million euros seized in 2024.

The disclosure occurred during discussions regarding a legislative bill aimed at transposing the European Union Directive 2024/1260 into national law. This directive focuses on the recovery and confiscation of criminal assets, enabling the seizure of property even without a prior criminal conviction. The proposed legislation further includes provisions for establishing an Asset Recovery Office within the Police and a separate Asset Management Office to streamline these enforcement operations.

Maria Kyrmizi-Antoniou emphasized that MOKAS actively petitions courts for asset seizures while also fulfilling judicial assistance requests from foreign authorities. The committee’s ongoing review of this bill is part of a broader effort to strengthen national mechanisms against organized crime and financial misconduct, ensuring alignment with current EU legal standards for asset forfeiture.