Only about 12% of fines have been recovered from Cyprus organizations that have come under the scrutiny of the Commission for the Protection of Competition (CPC) over the past eight years for unfair market behaviour.

Since 2012, CPC has imposed fines on Cypriot companies for a total of almost 100 million euros – of which the state treasury received only 11 million. In 2019, only 237 thousand out of almost 4 million euros of fines were levied. And out of 1.61 million euros, which CPC demanded to pay this year, Cyprus has not yet received a cent.

CPC is an independent body responsible for the harmonious functioning of the market in accordance with the rules of fair competition. The Commission has the right to impose financial sanctions on companies for price collusions, monopolies and other violations.