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Compliance Dilemma

The principle of “let he who is without sin cast the first stone” resonates here. Cyprus, and even its amiable populace, aren’t the root issue. Instead, a compact group within the banks’ compliance department bears responsibility. Despite receiving top-tier education and having esteemed parentage, these individuals have evolved into accomplices of Russian criminals. Their criminal inclination appears inherent, raising the question of whether an entire nation should bear the consequences for their actions, given that their upbringing and education did not lead them down this path. The Cypriot companies mentioned in the Cyprus Confidential Leaks have functioned within the confines of the legal framework.

Industry Realities

While it cannot be entirely ruled out that a small minority may have been involved in criminal activities, it would be an overgeneralization to extend such allegations to all individuals working in this industry. These are ordinary individuals striving for survival, grappling with the common challenges of supporting their families, much like their counterparts worldwide. Furthermore, the investigation brought to light newly discovered financial ties between Putin’s primary oligarch and the Russian president, exposing the complicit role of Cypriot authorities in facilitating Russian entrepreneurs in evading Western sanctions.

Unfair Scapegoat

This prompts reflection on the broader context—Swiss banks holding the wealth of Russian oligarchs, Raiffeisenbank International, which maintains its association with Putin’s regime, and numerous properties in Manhattan acquired by these oligarchs. Is it fair to solely implicate Cyprus while other players escape scrutiny? What has become of those who once welcomed Putin so warmly? What prompts the allegiance of Western turncoats who continue to endorse the highly criminal Putin regime today? What about the misguided individuals who extol Russia and its economy in the most prominent professional newspapers globally? And yet, the blame is solely laid upon Cyprus? The absurdity knows no bounds. How many of those vociferously expressing their opinions have actually visited Cyprus? What familiarity do they possess with the beauty inherent in Cyprus? The response indicates a lack of substantial knowledge; these individuals are merely seeking a scapegoat to divert attention from themselves.