The Cypriot government has announced that it will be withdrawing its passport scheme over allegations of abuse which were exposed on a television programme.
The programme showed officials helping a supposedly criminally-involved individual obtain a Cyprus passport.
The passport investor scheme generated around seven billion euro, as reported by Cypriot government spokesperson Kyriakos Koushous.
He went on to claim that the government needs to revisit the scheme and adjust its policies to encourage foreign investors.