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SICAV plc were fined €303,710 for AML FAILURE by the FIAU

12/01/2022

Southern Cross SICAV plc were fined €303,710 by the FIAU after being found to have committed four breaches of the Prevention of Money Laundering and Funding of Terrorism Regulations.

The fine, and the details as to why the company was fined, was published in an Administrative Measure Publication Notice by the FIAU this week, which came following an off-site compliance review last year.

https://www.independent.com.mt/articles/2022-01-07/local-news/Investment-company-fined-over-300-000-by-FIAU-over-anti-money-laundering-shortcomings-6736239594

FINES