In this episode we examine the evolving regulatory landscape for trusts in Cyprus and the wider European Union, focusing on the tension between anti-money laundering transparency and privacy rights. They highlight the 2026 CyTBOR reforms in Cyprus, which mandate that trustees maintain precise, updated records of beneficial owners such as settlors, protectors, and beneficiaries. Central to this legal shift are the landmark CJEU rulings in cases C-37/20 and C-601/20, which invalidated unrestricted public access to ownership registers to protect individuals from security risks and data misuse. Consequently, while competent authorities retain access to sensitive data for law enforcement, the reforms ensure that trust confidentiality is preserved against disproportionate public disclosure.