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Cyprus banks overdid it with risk prevention tactics

... of Cyprus, in addition to worldwide new measures against money laundering and tax evasion, have put local banks under great pressure to close client’s accounts.** This has already led to the closure of a lot of companies, most of which are not ‘shell companies’. As noted by Michael Christos, it is an absolute must to terminate shell companies. But Cyprus has now gone to the extreme of be...

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