MOKAS SEIZED MANSIONS, VEHICLES, CRYPTO AND CASH IN CRIMINAL CASES - VALUE AROUND €91 million - Filenews 30/5 by Eleftheria Paizanou
Close to €91 million is the value of the assets frozen in the previous two years by the Cypriot authorities, in the context of criminal cases both in Cyprus and abroad, following decrees, has increased. These are large sums of money, crypto-assets, real estate, luxury vehicles,, jewellery, paintings and other luxury items.
According to data from the Anti-Cover-up Offences Unit, in 2025 the total value of the frozen assets amounted to €27.6 million, while in 2024 the value of the frozen assets was €63.2 million.
In recent years, there has been an increase in the value of frozen assets. This is attributed to the effort started in 2023 by MOKAS, the Police and the prosecution to more effectively implement illegal revenue recovery measures.
As stated in the annual report of MOKAS, the deprivation of illicit proceeds is an essential measure, as on the one hand it punishes offenders and on the other hand prevents the infiltration of illicit money into the economy. Asset freezing and confiscation strengthen the efforts of competent authorities to recover illicit proceeds.
In detail, last year there was an increase in illegal revenue freezes in domestic cases investigated by the Police, which amounted to more than €10 million. Together with the commitments made following five requests from foreign authorities, the total amount exceeds €27 million, based on MOKAS data.
Specifically, the property frozen by domestic court orders, which were issued following applications by MOKAS, concerns properties worth €8 million, sums of money of €1.55 million, $1,605 and 465 British pounds. At the same time, cryptocurrencies worth more than €617,000, vehicles worth €252,000, jewellery worth €30,000, as well as other luxury items were seized.
At the same time, the property frozen following foreign decrees, which were issued on the basis of requests for judicial assistance from foreign authorities, amounted to €17.1 million. In addition, crypto-assets worth €183,000, real estate worth €7.3 million were frozen, and other luxury items.
It is noted that in 2025 there was an increase in confiscations of property, with their value exceeding €6.5 million. Of this amount, €6.3 million, concerns domestic confiscation orders and the rest foreign confiscation orders.
Suspicious reports have risen
In the meantime, the Financial Intelligence Unit has intensified its efforts to analyse priority reports and increase the number of referrals to competent authorities, both for the investigation of criminal offences and for information for the purpose of detecting and freezing illicit proceeds, as well as to other competent authorities.
The effort led to an increase of about 70% in the transfers made by MOKAS, which amounted to 572 in 2025. At the same time, it exchanged information with corresponding units abroad in 631 cases, while reports were forwarded in another 77 cases.
In addition, reports of suspicious transactions received from obliged entities increased. In particular, a large number of petitions came from obliged entities that are licensed in the Republic, but which provide services in the European area.
Last year, 21,857 reports were submitted to MOKAS, of which 246 concern the Financial Intelligence Unit.
