ON THE FIFTIETH ANNIVERSARY OF THE TURKISH INVASION OF CYPRUS, COMPLIANCE OFFICERS SHOULD ALWAYS REMEMBER WHAT GOES ON IN THE OCCUPIED TERRITORY; CAN YOU SAY CLEAR AND PRESENT DANGER?

If you have ever been to the Republic of Cyprus, you have most likely seen the Green Line, the fortified, and closed, frontier between that EU Member state and the thirty per cent of the country that remains, fifty years later, in the hands of Turkish Army. The anniversary of that invasion should serve as a reminder of what financial crimes are going in behind that border, in an artificial territory not recognized by any country save Turkey; money laundering, fraud and every type of financial crime that one can think of.

I have been to that border in Nicosia, and I wouldn't cross it for any reason; it brought back bad memories of the wartime frontier between Vietnam and Cambodia. You just knew there was evil on the other side, and danger.

Northern Cyprus is also a place where white collar criminals, especially those who are fugitives from justice in Europe, can obtain safe harbor, because Tirkey chooses not to extradite anyone from there. As a compliance officer, your position should always be to consider any financial activity located in, or originating from the so-called "Turkish Republic of Northern Cyprus" as most likely criminal in nature. Why else would anyone from outside Turkey want to operate from there?