PwC stresses commitment to sanctions compliance following Cyprus Confidential leak
( November 14, 2023, 18:15 GMT | Official Statement) -- MLex Summary: PwC has said it takes sanctions "extremely seriously" following media reporting today on a leaked cache of millions of documents known as Cyprus Confidential, which showed how professional services firms allegedly created opaque company structures for sanctioned Russians. "Following the Russian invasion of Ukraine, PwC Cyprus has terminated relationships with approximately 150 client groups. Sixty as a result of the introduction of the broader PwC Russia-related sanctions policy implemented in 2022," a PwC spokesman said today. The leak includes documents from the mid-1990s to April 2022.Statement follows....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.