The central bank of Cyprus has fined the local branch of PrivatBank EUR 1.535 million. The central bank of Cyprus announced this in a statement, Ukrainian News Agency reports. The fine is imposed for offenses in the field of legislation on the fight against money laundering and financing terrorism. The fine follows checks at the Cyprian branch of PrivatBank in May 2015. The central bank of Cyprus says the branch of PrivatBank can obtain a 15-percent discount (EUR 230,300) if the fine is paid before a certain date. As Ukrainian News Agency earlier reported, in August 2016 the central bank of Italy closed a branch of Latvia-based AS PrivatBank within the fight against money laundering.